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 Riverfront Landing (“Project”), a luxury apartment project in the Strip District outside of downtown Pittsburgh, Pennsylvania.

Once developed, the project will consist of 364 market-rate rental units in five-story wrap multifamily 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.