Parse Capital Makes $14.5 Million Preferred Equity Equity Investment in King of Prussia, Pennsylvania Multifamily Development

March 9, 2018 – Parse Capital (“Parse”) has made a $14.5 million preferred equity investment in Skye 750 (“Project”), a luxury apartment project in King of Prussia, Philadelphia.
Once improved, the Project will consist of 248 market-rate rental units in a five-story mid-rise multifamily housing community. Project construction commenced in January 2018 and is expected to be completed in early-2020.
Parse’s investment was part of a larger financing package, which included a first mortgage loan provided by Citizens Bank, and a significant equity investment made by the sponsor.