Bakersfield-Delano, CA, July 17, 2024 –– Parkway International Capital Group (PIC-Group) has announced the successful closure of a significant real estate construction loan deal in Bakersfield-Delano California, valued at $7.3 million. The transaction, finalized on July 12, 2024, marks a pivotal moment for both PIC-Group and the borrower, facilitating the commencement of ground construction for a multifamily project.
The borrower, who was shovel-ready but required funding to initiate construction, approached PIC-Group for financial assistance. The loan, with a term of 36 months, was processed swiftly, taking only 28 days from submission to closure.
“We are pleased to have facilitated this crucial stage of the project’s development,” said Peter Aman, CEO of Parkway International Capital Group. “Working with experienced and qualified borrowers, supported by comprehensive documentation, streamlines the financing process significantly. This efficient execution underscores our commitment to delivering timely and effective financial solutions.”
The smooth processing of the loan was also credited to the collaboration with the broker involved in the transaction. Their expertise and proactive approach contributed to overcoming potential challenges and ensuring a seamless closing process.
This successful transaction not only highlights PIC-Group’s capability to support complex real estate ventures but also reinforces its position as a trusted partner in the financial landscape. By enabling timely access to capital, PIC-Group continues to empower developers and investors to realize their strategic goals.