News

Parse Capital Invests $17.4 Million of Preferred Equity in Exton, Pennsylvania Multifamily Development

January 8, 2019 – Parse Capital (“Parse”) has made a $17.4 million preferred equity investment in  Parkview at Oaklands, a luxury apartment project in Exton, Pennsylvania.

Once complete, the project will consist of 291 market-rate apartment homes in a four-story low-rise multifamily housing community. Project construction commenced in August 2018 and is expected to be completed in the Summer of 2020.

Parse’s investment was part of a larger financing package, which also included a first mortgage loan provided by Citizens Bank, and a significant equity investment made by the sponsor and their partners.

Parse Capital Makes $8.5 Million Preferred Equity Investment in New Haven, Connecticut Multifamily Development

December 13, 2018 – Parse Capital (“Parse”) closed a $8.5 million preferred equity investment in 367 Orange Street (“Project”), a luxury mixed-use apartment project located within the increasingly dynamic downtown neighborhood of New Haven, CT.

The Project will consist of 269 market-rate rental units in a seven-story mid-rise multi-family housing community. Project construction commenced in February 2018 and is expected to be completed by the end of 2019. Upon completion, residents will have access to excellent mass transit connections, world class educational and health care institutions and numerous cultural, dining, entertainment and recreational opportunities all located within a short walk of the Project.

Parse’s investment was part of a larger financing package which included a first mortgage loan provided by M&T Bank.

Parse Capital Makes $25.7 Million Preferred Equity Investment in Atlanta, Georgia Multifamily Development

September 11, 2018 – Parse Capital (“Parse”) has made a $25.7 million preferred equity investment in Generation Atlanta, a luxury apartment project in Atlanta, Georgia.

Once complete, the project will consist of 336 market-rate apartment homes in a seventeen-story high-rise multifamily housing community. Project construction commenced in June 2018, and is expected to be completed in the latter half of 2020.

Parse’s investment was part of a larger financing package, which also included a first mortgage loan provided by Santander Bank and Citizens Bank, and a significant equity investment made by the sponsor.

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.

 

 

Parse Capital Makes $14.5 Million Preferred Equity Equity Investment in King of Prussia, Pennsylvania Multifamily Development

March 9, 2018 – Parse Capital (“Parse”) has made a $14.5 million preferred equity investment in Skye 750 (“Project”), a luxury apartment project in King of Prussia, Philadelphia.
Once improved, the Project will consist of 248 market-rate rental units in a five-story mid-rise multifamily housing community. Project construction commenced in January 2018 and is expected to be completed in early-2020.
Parse’s investment was part of a larger financing package, which included a first mortgage loan provided by Citizens Bank, and a significant equity investment made by the sponsor.

 

 

Parse Capital Makes $9.0 Million Preferred Equity Investment in Pasadena, California Multifamily Development

July 18th, 2017 – Parse Capital (“Parse”) has made a $9.0 million preferred equity investment in the development of El Molino (“Project”), a luxury apartment project in Pasadena, California. Once improved, the Project will consist of 105 market-rate and affordable rental units in a six-story, mid-rise multifamily housing community. Project construction commenced in July 2017 and is expected to be completed in mid-2019.

Parse’s investment was part of a larger financing package, which also included a first mortgage loan provided by Comerica Bank, and a significant equity investment made by the project sponsor.


 

 

Parse Capital Makes $70.3 Million Mezzanine Investment in Washington, D.C. Multifamily Development

May 31, 2017 – Parse Capital (“Parse”) has made a $70.3 million mezzanine investment in the development of Portals Residential Phase V Building (“Project”), a luxury apartment project in Washington, D.C.

The Portals Residential building will encompass 373 rental apartments ranging from 506 to 3,400 SF.   The Building will rise 13 levels of and contain a wide variety of sizes and types of units, many with balconies and terraces.  The top four floors feature larger units with private elevator access from the building’s lobby.  The building’s exterior and many of its public areas were designed by Robert A.M. Stern. WDG Architecture was the architect for the building and led the multidisciplinary design team.  The building will be constructed by Balfour Beatty Construction.
The landmark Portals Residential Building will be the next to the last phase of the over 3 Million SF Portals project which already includes the Mandarin Oriental Hotel and three Class A office buildings.   The new residential building has special prominence because it’s at its principal gateway location to the Washington, DC Downtown and the monumental core.
Parse’s investment was part of a larger financing package, which also included a first mortgage loan provided by CapitalSource, and a significant equity investment made by the project sponsor. CBRE’s Capital Markets Group was the advisor on the deal.

 

Parse Capital Makes $6.9 Million Preferred Equity Investment in Tulsa, Oklahoma Multifamily Development

May 4, 2017 -Parse Capital (“Parse”) has made a $6.9 million preferred equity investment in the development of The Cosmopolitan (“Project”), a luxury apartment project in Tulsa, Oklahoma.

Once improved, the Project will consist of 264 market-rate rental units in a four-story, mid-rise multifamily housing community. Project construction will commence in July 2017, and is scheduled to be completed at the end of 2019.

Parse’s investment was part of a larger financing package, which also included a first mortgage loan provided by Prosperity Bank with Valley National Bank as the participating lender, and a significant equity investment made the project sponsor.


 

Parse Capital Makes $8.2 Million Preferred Equity Investment in Harrison, New Jersey. Multifamily Development

January 26, 2017 – Parse Capital (“Parse”) has made a $8.2 million preferred equity investment in an the development of One Harrison (“Project”), a luxury apartment project in Harrison, New Jersey.

Once improved, the Project will consist of 257 market-rate rental units in a five-story mid-rise multifamily housing community. Project construction commenced in February 2017 and is expected to be completed in mid-2019.
Parse’s investment was part of a larger financing package, which also included a first mortgage loan provided by PNC Bank, and a significant equity investment made by the project sponsors.

 

Parse Capital Makes $13.0 Million Preferred Equity Investment in Pittsburgh, Pennsylvania Multifamily Development

October 7, 2016 – Parse Capital (“Parse”) has made a $13.0 million preferred equity investment in the development of Mission Lofts Riverfront Landings (“Project”), a luxury apartment project in the Strip District outside of downtown Pittsburgh, Pennsylvania.

Once improved, the Project will consist of 364 market-rate rental units in five-story mid-rise multifamily housing community and is expected to be completed in mid-2018.
Parse’s investment was part of a larger financing package, which also included a first mortgage loan provided by Fifth Third Bank, and a significant equity investment made by the project sponsor.