News

Parse Capital Announces Closing of a $7,286,000 Mezzanine Investment to Fund Class “A” Multifamily Development

June 1, 2014 – Parse Capital, LLC, in partnership with a premier sponsor, announced today the proposed ground-up development of a 198-unit multifamily project in Houston, Texas. The partnership plans to develop the Class “A” luxury multifamily development with a podium style structure, and is scheduled to be completed in the fall of 2015. Parse Capital provided a $7.3 million mezzanine investment to fund the development of the apartment community, which totaled nearly $37 million.

Parse Capital Announces Closing of a $14,700,000 Preferred Equity Investment to Fund Class “A” Multifamily Development

May 20, 2014 – Parse Capital, LLC, in partnership with two premier sponsors, announced today the proposed acquisition of a vacant 20-story high rise office building in downtown Atlanta, Georgia. The partnership plans to redevelop the building into a 328-unit Class “A” luxury multifamily development scheduled to be completed in the summer of 2015. Parse Capital provided a $14.7 million preferred equity investment to fund the acquisition and redevelopment of the property, which totaled $53 million. “Our ability to offer developers flexibility and certainty of close is key in helping our clients finance multifamily development projects successfully and expeditiously,” said William Trefethen, Managing Partner of Parse Capital. “In this particular case, the developer required reliable execution from an experienced investor that both understood the asset strategy, and took a balanced approach to negotiating the transaction documents.”

From the sponsor: “We saw a great opportunity to repurpose a vacant office building in a prime location in downtown Atlanta where there is incredible demand for additional multifamily residences. We believe this partnership will be a tremendous success.”

Parse Capital Announces Closing of a $12,250,000 Preferred Equity Investment to Fund Class “A” Multifamily Development

January 22, 2014 – Parse Capital, LLC announces the closing of a $12.25 million preferred equity investment in an entity that is developing the second of three phases that, upon completion, will constitute a Class “A” luxury multifamily development known as Optima Sonoran Village, which is located in Scottsdale, Arizona. Scheduled to be completed in the summer of 2016, Phase II will comprise a total of three buildings, housing 400 condo-quality luxury rental units, an estimated 5,400 square feet of commercial space, and resort style amenities, including a fitness center, indoor basketball and racquetball courts, lounge and game room, two outdoor pools and heated spas, landscaped open spaces, green roofs and streetscape improvements.

“Our ability to offer developers flexibility and certainty of close is key in helping our clients finance multifamily development projects successfully and expeditiously,” said William Trefethen, Managing Partner of Parse Capital. “In this particular case, the developer required reliable execution from an experienced preferred equity investor that both understood the asset strategy, and took a balanced approach to negotiating the transaction documents.”

Parse Capital Announces Closing of a $8,900,000 Mezzanine Loan to Fund Class “A” Multifamily DevelopmentDevelopment

July 1, 2013 – Parse Capital, LLC announces the closing of an $8.9 million mezzanine loan to finance the development of a class “A” apartment community in Los Angeles County. Upon completion in the fall of 2014, the LEED silver, transit-oriented project will be comprised of 349 rental units housed in two, four-story buildings offering a range of living options and resort style amenities.

“Our ability to offer borrowers flexibility and certainty of close is key in helping our clients finance multifamily development projects successfully and expeditiously,” said William Trefethen, Managing Partner of Parse Capital. “In this particular case, the developer required reliable execution from a mezzanine lender that both understood the asset strategy, and took a balanced approach to negotiating inter-creditor issues with the construction lenders.