The principals of Parallel have over 30 years of experience developing over $900 million of properties.
Parallel CO 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.