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Parallel Company

Austin, TX

Parallel was founded in 2016 by a proven team of experienced student housing professionals. The team is led by David M. Pierce and Kristen Penrod who prior to forming Parallel, developed over 11,000 beds of purpose-built student housing developments both off-campus and on-campus valued at over $900 million in development costs. Pierce and Penrod previously led the development team at University House Communities, a subsidiary of Inland American Real Estate Investment Trust. Their developments were key assets in a record-breaking $1.4 billion portfolio transaction in 2016. They have a proven track record of delivering complex mid-rise and hi-rise urban infill and student housing developments on time and on budget in some of the nation’s most competitive markets.