About

KRISTEN PENROD

PRINCIPAL

Phone: 512.265.1130

Mrs. Penrod manages development activities from site selection through construction completion. She also is focused on the financial performance and reporting of the company and its investments.

Mrs. Penrod brings over 15 years of development experience to Parallel’s team. Mrs. Penrod co-founded Parallel after the sale of the University House Communities portfolio in 2016. Mrs. Penrod began her career with FirstWorthing in 2006 as an Analyst. When FirstWorthing was acquired by University House Communities (a wholly-owned subsidiary of Inland American Real Estate Investment Trust) in 2008 she continued her real estate development career and became Vice President of Development. While at University House Communities, Mrs. Penrod led the completion of 7,500 beds with total development costs in excess of $700 million in 10 states across the United States. She was also a key management team member in the total portfolio development of over 11,000 beds. The projects ranged in size from $16 million to $125 million, and every project was delivered on time and within budget. Most notably, Mrs. Penrod led the delivery of University House Austin which has received numerous design and construction awards including the “Best New Student Housing Development” in 2016 by Student Housing Business Journal.

Mrs. Penrod earned a bachelor’s degree in business administration from the University of Texas at Austin and is a member of the U.S. Green Building Council and a member for ULI’s National Student Housing Council.