PARSE CAPITAL INVESTS $14.3 MILLION OF PREFERRED EQUITY IN KISSIMMEE, FLORIDA MULTIFAMILY DEVELOPMENT

April 26, 2019 – Parse Capital (“Parse”) has made a $14.3 million preferred equity investment in Amber Pointe (“Project”), a luxury apartment project in Kissimmee, FL.

Once developed, the project will consist of 315 market-rate apartment homes in a four-story low-rise multifamily housing community. Project construction commenced in Spring 2019 and is expected to be completed in the Fall of 2021.

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 sponsor and their partners.