September 30, 2015 -Parse Capital today announced the firm closed a $7.0 million preferred equity investment that will be used to partially fund the ground-up development of a 3 story, Class A, garden project, consisting of 280 residential apartments.
The preferred equity investment is part of a larger $53.9 million financing, which also included a first mortgage loan, provided by PNC Bank and equity capital provided by Real Capital Solutions.
“We are pleased to complete our first partnership with Real Capital Solutions,” said Bill Trefethen, Managing Partner of Parse. “We are excited about the Denver market and looking forward to working with a seasoned real estate group like Real Capital Solutions on future projects”
Commenting on the transaction, Marcel Arsenault from Real Capital Solutions, said: “Real Capital Solutions prides itself on delivering best-in-class assets in great locations. By partnering with Parse Capital, we are able to maintain high levels of liquidity to pursue further investment opportunities. We look forward to follow-on partnerships with Parse Capital.”
About Real Capital Solutions
Real Capital Solutions, based in Louisville, Colorado, is a private equity real estate company with assets under management of over $1 billion. The company owns and operates multifamily, single family residential, condominiums, retail, industrial, commercial, and office assets. RCS focuses on value-add and development investments throughout the U.S. and abroad.