Criteria

Parse seeks to lend to, and invest opportunistically in, assets owned by experienced multifamily developers and sponsors.

Investment Type


Non-control structured equity capital

    • Preferred equity

Investment Criteria


Preferred equity:

    • $5.0 – 75.0 million
    • Last dollar of exposure up to 95%
    • Low-to-mid-teens pricing, scaled to risk
    • 1 – 7 year terms
    • Non-recourse financing
    • Interest only, all accrual
    • Prepayment anytime, subject to minimum multiple

Capital Use


  • Development of new assets
  • Acquisition of existing assets
  • Recapitalization of existing assets
  • Rescue financing

Property Type

 


  • Multifamily
    • Market rate
    • Student
    • Affordable
    • Senior (IL & AL)
    • Adaptive reuse
    • Mixed-use (Multi 70%+)