Construction Loan Volume Soars in L.A.

Paul Rahimian

Construction loans are increasing in Los Angeles. In the last several years, banking regulations have constrained construction-financing options, but in 2018, construction loan volumes increased. In fact, there were more construction deals closed in 2018 than in the last nine consecutive years. Last year, Parkview Financial secured $335 million in construction financing in the Western US. This year, the firm expects to close $500 million to $550 million in the same region.

“We have seen quite a bit of construction loan activity in Los Angeles. In fact, last year more construction loans were provided here than over the past nine consecutive years,” Paul Rahimian, CEO of Parkview Financial in Los Angeles, tells GlobeSt.com. “Although there has been a lot of chatter about a slowdown, I believe that the momentum from 2018 will continue this year as the demand for construction loans remains high.”