Parse Capital Makes $16.7 Million Preferred Equity Equity Investment in Grapevine, Texas Multifamily Development

April 23, 2018 – Parse Capital (“Parse”) has made a $16.7 million preferred equity investment in Jefferson Silverlake, a luxury apartment development in Grapevine, Texas.
Once complete, the project will consist of 371 market-rate apartment homes in a four-story mid-rise multifamily housing community. Project construction commenced in January 2018, and is expected to be completed in the early part of 2020.
Parse’s investment was part of a larger financing package, which also included a first mortgage loan provided by Prosperity Bank, and a significant equity investment made by the sponsor.