Parse Capital Makes $6.9 Million Preferred Equity Investment in Tulsa, Oklahoma Multifamily Development

May 4, 2017 -Parse Capital (“Parse”) has made a $6.9 million preferred equity investment in the development of The Cosmopolitan (“Project”), a luxury apartment project in Tulsa, Oklahoma.

Once improved, the Project will consist of 264 market-rate rental units in a four-story, mid-rise multifamily housing community. Project construction will commence in July 2017, and is scheduled to be completed at the end of 2019.

Parse’s investment was part of a larger financing package, which also included a first mortgage loan provided by Prosperity Bank with Valley National Bank as the participating lender, and a significant equity investment made the project sponsor.