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%+)