Shopoff Realty Investments has secured a $50.5 million construction loan from RMWC for its Parkhouse Residences at Uptown Newport project, located at 4239 Uptown Newport Drive in Newport Beach, Calif.
“The Uptown Newport master development has seen great activity over the past year through phase one of development, including the completion of our joint venture apartment project with Picerne Group, One Uptown Newport Apartments, as well as the public park,” said William Shopoff, president and CEO of Shopoff Realty Investments. “As the next project in phase one, Parkhouse Residences will offer a much needed for-sale option for this transforming neighborhood of Newport Beach’s airport area, with a unique product type designed to provide the lock and leave benefits of a condo, with the luxury and privacy of a single-family home.”
The 30-unit boutique luxury condominium project will feature five, five-story buildings with a combination of three-bedroom, half-floo
