Parse Capital Announces Closing of a $12.3 Million Preferred Equity Investment In Scottsdale, Arizona Multifamily Development

January 22, 2014 – Parse Capital (“Parse”) announces the closing of a $12.3 million preferred equity investment in an entity that is developing Optima Sonoran Village – Phase II (“Project”), the second of three phases that, upon completion, will constitute a Class “A” luxury multifamily development located in Scottsdale, Arizona. The project is scheduled to be complete in the summer of 2016, Phase II will comprise a total of three buildings, housing 394 luxury 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.”