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.