Parse Capital Announces Closing of a $12,277,400 Preferred Equity Investment to Fund Class “A” Multifamily Development

March 31, 2015 – Parse Capital, LLC, in partnership with a premier sponsor, announced today the proposed ground-up development of a 186-unit multifamily project in Santa Clara, California. The partnership plans to develop the Class “A” luxury multifamily development and is scheduled to be leasing up in the fall of 2016. Parse Capital provided a $12.3 million preferred investment to fund the development of the apartment community, which totaled approximately $75.0 million. “Our ability to offer developers flexibility and certainty of close is key in helping our clients finance multifamily development projects successfully and expeditiously across the country” said William Trefethen, Managing Partner of Parse Capital. “In this particular case, due to the sponsor’s professionalism and deep transactional expertise we were able to complete a complex transaction in an expeditious fashion. We look forward to developing our partnership together and investing in their pipeline of projects.”

From the sponsor: “Parse’s capital markets expertise, industry knowledge and submarket-specific knowledge provided for a smooth closing process on a complicated transaction. We look forward to growing our relationship with Parse.”