Parse Capital Closes $28.3 Million Preferred Equity Investment In Chicago, Illinois Multifamily Development

July 10, 2015 – Parse Capital (“Parse”) today announced the closing of a $28.3 million preferred equity investment that will be used to partially fund the ground-up development of Exhibit on Superior (“Project”), a mixed-use luxury apartment project in Chicago, Illinois. Once developed, the project will consist of a 34 story, Class A mixed-use high rise, consisting of 298 residential apartments; including studios and one- to three-bedroom residences with condo quality finishes. The preferred equity investment is part of a $113.3 million financing, which also included a first mortgage loan, provided by a syndicate of banks led by PNC Bank, and equity capital provided by the sponsor.