Parsonex Breaks Ground On Grand Junction OZ Project

Parsonex Capital Partners, a sponsor of private placement funds, has broken ground on its second qualified opportunity zone project, Brookwillow Estates, a multifamily development located in Grand Junction, Colorado.

Parsonex Capital Partners, a sponsor of private placement funds, has broken ground on its second qualified opportunity zone project, Brookwillow Estates, a multifamily development located in Grand Junction, Colorado.

Brookwillow Estates, which is being co-developed by Senergy Builders, is an infill project that will include 36 Energy Star-rated condominium units. The property is located less than one mile from Parsonex’s first completed opportunity zone development project, Sundance Townhomes, also co-developed by Senergy Builders.

Parsonex said that Brookwillow Estates will help fill the current housing inventory gap in Grand Junction, which had 222 active listings as of February 2022, citing a report published by Bray Real Estate. The company added that overall living expenses in Grand Junction are a third less than in Denver.

“Grand Junction has recently been coined, ‘The New West’ due to the number of residents flocking to the area,” said Jonathan Miller, chief executive officer and president. “Given its prime location between the Rocky Mountains and Moab Desert, Grand Junction is a highly desirable place to live, and there is a strong demand for three-bedroom rentals.”

In other company news, Parsonex recently hired Chad Whatley as senior vice president of capital markets.

Parsonex Capital Partners, headquartered in Englewood, Colorado, focuses on real estate development, qualified opportunity zones and special situations.