Parse Capital Makes $14.5 Million Preferred 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 the development of 750 Moore Road (“Project”), a luxury apartment project in King of Prussia, Pennsylvania.

Once developed, the project will consist of 248 market-rate rental units in a five-story podium 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.