Recent Transactions

$10,000,000Procured a non-recourse, fixed-rate loan to refinance this 24,885 square foot retail center in Urbana, Maryland. Financing for this transaction was obtained from a local bank.
Retail Center
Urbana, MD
$22,380,000Secured a permanent loan to refinance this multi-family development, consisting of townhomes and apartments, in Ellicott City, Maryland. Financing was provided by one of our correspondent lenders.
Multi-Family Community
Ellicott City, MD
$19,500,000Procured a 10-year, non-recourse permanent loan to refinance this 202,000 square foot, anchored shopping center in Lynchburg, Virginia. A CMBS lender provided the financing for this transaction.
Anchored Shopping Center
Lynchburg, VA
$30,100,000Arranged the sale and procured the acquistion loan for this anchored retail center in Decatur, Georgia. The 136,334 square foot property was 92% leased at closing. One of our correspondent lenders provided the financing for this transaction.
Anchored Retail Center
Decatur, GA
$25,000,000Secured a 10-year, 5.25% fixed rate, permanent loan for the acquisition of this office building in Rockville, Maryland. The property consists of two buildings with 141,859 rentable square feet. A local bank provided the financing for this transaction.
Office Building
Rockville, MD
$7,500,000Procured a 15-year, 4.6% fixed rate, permanent loan for this retail center in Frederick, Maryland. The property contains three buildings, two inline buildings, a leased pad site, as well as parking. Financing was provided by one of our correspondent lenders.
Retail Center
Frederick, MD
$4,000,000Procured a fixed-rate, permanent loan for the acquisition of this 100,337 square foot industrial building in Manassas, Virginia. A national bank provided the financing for this transaction.
Industrial Building
Manassas, VA
$41,000,000Procured a construction permanent loan for this 224-unit apartment community. The property located in Gaithersburg, Maryland, also includes ground level retail and underground parking. Financing was provided by one of our correspondent lenders.

Apartment Community
Gaithersburg, MD
$36,000,000Secured a fixed-rate, permanent loan to refinance this 251,993 square foot, anchored retail center in Gaithersburg, Maryland. The property was 95% leased at closing. One of our correspondent lenders, a life insurance company, provided the financing for this loan.
Anchored Retail Center
Gaithersburg, MD
$21,730,000
Procured a floating rate, construction loan for this 204-unit, seven building, garden-style apartment community in Frederick, Maryland. A national bank provided the financing for this development.

Apartment Community
Frederick, MD
$7,000,000Procured a fixed-rated, permanent loan for the acquisition of this 17,235 square foot, retail center in Rockville, Maryland. Financing was provided by one of our correspondent lenders.
Retail Center
Rockville, MD
$7,400,000Secured a fixed-rate, permanent loan for the acquistion of this retail center in Culpeper, Virginia. The property is 95,447 square feet and was 98% leased at closing. One of our correspondent lenders provided the financing for this transaction.
Retail Center
Culpeper, VA
$22,000,000Procured a permanent fixed-rate loan to refinance this 121,970 square foot, grocery-anchored shopping center in Burtonsville, Maryland. Financing was provided by one of our correspondent lenders.
Anchored Shopping Center
Burtonsville, MD
$25,000,000Secured a fixed-rate, permanent loan for the acquistion of this Class A office building in downtown Annapolis, Maryland. A correspondent lender provided the financing for this transaction.
Office Building
Annapolis, MD
$42,000,000Procured a $42,000,000 permanent loan for this newly renovated Class A, office building. This 164,001 square foot property is located in the heart of the Rosslyn-Ballston Corridor in Arlington, Virginia. The loan closed in 17 days with financing provided by a correspondent lender.

Office Building
Arlington, VA
$11,000,000Secured a fixed-rate, permanent loan for the acquisition of this 118,700 square foot, three building, industrial/retail portfolio in Alexandria, Virginia. Financing was obtained from a local bank.
Industrial/Retail Portfolio
Alexandria, VA
$6,200,000
Procured a fixed-rate, permanent loan for this two-story, Class-A medical office building located in Lorton, Virginia. The property contains 20,947 rentable square feet and is 100% leased. A local bank provided the financing for this transaction.

Medical Center
Lorton, VA
$8,000,000Secured a fixed-rate permanent loan to refinance this 106,945 square foot industrial building. The property is located in Newington, Virginia and is 94% leased. A local bank provided the financing for this transaction.
Industrial Building
Newington, VA
$4,700,000Secured a fixed-rate, permanent loan for this office park in Rockville, Maryland. The property is comprised of four, two-story buildings situated on 2.98 acres of land and contains 33,600 rentable square feet. Financing was provided by one of our correspondent lenders.
Office Park
Rockville, MD
$65,000,000Procured a construction loan for this 327-unit, Class A, apartment project in Merrifield, Virginia. Financing was provided by a national bank.
Apartment Project
Merrifield, VA
$20,000,000
The project, which spans two city blocks in Northwest Washington, DC, anchored by a Giant grocery, contains approximately one million square feet of mixed-use development including residential, retail and hotel uses. Financing was procured from a private investor.

Mixed-Use Development
Washington, DC
$5,300,000
Secured a fixed-rate, permanent loan to refinance this apartment building in Rockville, Maryland. A national bank provided the financing for this transaction.

Apartment Building
Rockville, MD
$3,500,000Secured a permanent loan to refinance this 84,520 s.f. warehouse in Elkridge, Maryland. A life company provided financing for this transaction.

Flex/Industrial Warehouse
Elkridge, MD
$70,000,000Obtained a $70,000,000 permanent loan to refinance this 284,904 square foot, Class A office building in southeast Washington, D.C. The property is 100% leased and a national life insurance company provided the financing.
Office Building
Washington, DC
$10,000,000Procured a permanent loan to refinance this anchored shopping center in Millsboro, Delaware. Financing was provided by a national insurance organization.
Shopping Center
Millsboro, DE
$7,700,000Procured a non-recourse, construction/permanent loan for this Class A, two-story medical office building in Woodbridge, Virginia. A local bank provided the financing for the development of property.
Medical Office Building
Woodbridge, VA
$38,000,000Obtained a 15-year, permanent loan for the acquistion of this grocery-anchored shopping center in Severna Park, Maryland. A life company provided the financing for this project.
Shopping Center
Severna Park, MD
$10,575,000Secured a bridge loan for the acquisition of two medical office buildings in Charlotte, North Carolina. Financing was provided by a balance sheet lender.
Two Medical Office Buildings
Charlotte, NC
$4,500,000Obtained a permanent loan to refinance this Class B apartment building located in Silver Spring, Maryland. A local bank provided the financing for this property.
Apartment Building
Silver Spring, MD
$14,700,000Obtained a fixed-rate permanent loan for this multi-building retail center in Washington, DC. A regional bank provided the financing for this transaction.
Retail Center
Washington, DC
$3,000,000Procured the loan to refinance this one-store flex building located in Gaithersburg, Maryland. The property contains 41,895 net rentable square feet and is 100% leased. Financing was provided by one of our correspondent lenders.
Flex Building
Gaithersburg, MD
$3,800,000Secured a fixed-rate permanent loan to refinance this industrial property in Gaithersburg, Maryland. Financing was provided by one of our correspondent lenders.
Industrial/Flex Building
Gaithersburg, MD
$16,000,000Secured a fixed-rate loan for the leased fee interest for this grocery-anchored retail center located in Bethesda, Maryland. Financing was provided by one of our correspondent lenders.
Retail Center
Bethesda, MD
$17,850,000Procured a $17,850,000 construction loan for this 49.2 acre planned mixed-use development with retail and residential located in Frederick, MD. Financing was provided by a local bank.
Mixed-Use Development
Frederick, MD
$32,910,000Procured a construction loan for an apartment building in Charlottesville, Virginia. Financing was provided by HUD under their 22(d)(4) loan program.
Apartment Building
Charlottesville, VA
$3,200,000Procured a non-recourse loan for the purpose of refinancing a 17,100 SF retail center in Woodbridge, Virginia. Financing was provided by a life insurance company.
Retail Center
Woodbrige, VA
$5,200,000
Secured fixed-rate permanent financing to refinance a three-strory office building in Northern Virginia. Financing included structuring around high vacancy and near term rollover.

Office Building
Fairfax, VA
$6,000,000Procured a fixed-rate permanent loan to refinance this property which consists of two flex buildings totaling 109,542 square feet. Financing was provided by a national life insurance company.

Two Flex Buildings
Sterling, VA
$5,000,000
Secured a fixed-rate permanent loan to refinance this three-story office building in Sterling, Virginia. Financing was provided by a national life insurance company.

Office Building
Sterling, VA
$32,000,000Procured a fixed-rate, permanent loan for three Class A office buildings totaling 276,059 square feet in Chantilly, Virginia. Financing was provided by a CMBS lender.

Class A Office Portfolio
Chantilly, VA
$25,000,000Arranged a preferred equity loan in the amount of $25,000,000 for this office building in downtown Washington, DC. Financing was provided by a public REIT.
Office Building
Washington, DC
$5,900,000Obtained a permanent loan to refinance this 61,000 square foot, anchored shopping center in Chesterfied, Virginia. A local savings bank provided financing for this transaction.
Shopping Center
Chesterfield, VA
$17,000,000Secured a $17,000,000 fixed-rate permanent loan to refinance this 93,328 square foot shopping center in Towson, Maryland. Financing was provided by a life insurance company.
Shopping Center
Towson, MD
$10,500,000
Secured a fixed-rate, permanent loan to refinance this office portfolio of two buildings in Reston, Virginia. Financing was obtained from an international bank.

Office Portfolio
Reston, VA
$17,000,000Procured at fixed-rate, permanent loan for this high quality, five-story office building in Washington, D.C., near the U.S. Capitol. Financing was obtained from one of our correspondent lenders.
Office Building
Washington, DC
$4,300,000Secured a permanent loan to refinance this anchored shopping center in Frederick, Maryland. Financing was provided by one of our correspondent lenders.
Shopping Center
Frederick, MD
$4,800,000Obtained a $4,800,000 loan to refinance a portfolio of seven fast food restaurants in the Maryland, Virginia and Washington D.C. area. Financing was provided by a local credit union.

Fast Food Portfolio
DC, MD, VA
$100,000,000Secured a fixed-rate permanent loan for this B+ office complex in Bethesda, Maryland. The complex is comprised of three 11-story buildings, a parking garage and is situated in a prime location. Financing was provided by a life insurance company.
Office Complex
Bethesda, MD
$18,675,000Procured $18,675,000 fixed-rate, mezzanine/ second trust funding for a Class B+ office building in Arlington, Virginia. The existing first trust is very low leverage, therefore, the total of the first and second trust will be below 50% loan-to-value and more
Mezzanine Funding
Arlington, VA
$9,650,000
Procured a fixed-rate, 15-year loan to refinace this 136,762 square foot office building located in Bethesda, Maryland. This six-story building was constructed in 1981 and is equipped with three elevators.

Class A Office Building
Bethesda, MD
$9,175,000Refinanced this long-term ground lease for a 177,000 square-foot Class A office building located in Bethesda, Maryland with a fixed-rate,11-year loan in the amount of $9,175,000. Financing was provided by one of our correspondent lenders.

Long-Term Ground Lease
Bethesda, MD
$16,360,000Procured a $16,360,000, fixed-rate, permanent loan for this 10-story, 84-unit luxury apartment building located in Washington, DC. Financing was provided by one of our correspondent lenders.

Apartment Building
Washington, DC
$80,000,000Procured a $80,000,000 loan for one of the most luxurious and historic apartment buildings in Washington, D.C. and also considered one of Washington’s “Best Addresses.” The loan will be used to refinance the current debt and the remaining ongoing renovations will be funded by the borrower.

Apartment Building
Washington, DC
$11,500,000Secured the loan for a developer to refinance three commercial properties located in Gainesville and Manassas, Virginia. The portfolio consists of an office building, flex/warehouse space and a ground lease for a daycare center.

Portfolio
Gainesville, VA
$8,700,000Refinanced this 205,300 square-foot Class A office building located in Bethesda, Maryland with a fixed-rate,11-year loan in the amount of $8,700,000. Financing was provided by one of our correspondent lenders.
Class A Office Building
Bethesda, MD
$20,000,000
Secured a 10-year, fixed-rated loan in the amount of $20,000,000 to refinance this 143,500 square foot shopping center in Silver Spring, Maryland. Financing was provided by one of our correspondent lenders.

Shopping Center
Silver Spring, MD
$15,600,000
Obtained a fixed-rate Fannie Mae loan for this established multi-family property. The apartment community is located in Santee, California, a San Diego suburb.

Apartment Community
Santee, CA
$6,325,000Obtained financing for these garden-style apartments in Chula Vista, California, a suburb of San Diego. The loan was provided by Fannie Mae.
Garden Apartments
Chula Vista, CA
$2,640,000Obtained financing for the acquisition of this 4-story office building in Gaithersburg, Maryland.
Office Building
Gaithersburg, MD
$7,730,000Procured a $7,730,000, fixed-rate, permanent loan for the acquisition of this office building located in Warrington, Pennsylvania. Financing was provided by a life insurance company.
Class A Office Building
Warrington, PA
$2,300,000Obtained financing for this four-story 28,511 rentable square foot office building located in the City of Fairfax. The property is 80% leased by the county government.
Office Building
Fairfax, VA
$4,000,000
Financing was provided by one of our correspondence lenders for this medical office building in Silver Spring, MD.

Medical Office Building
Silver Spring, MD
$17,040,000
Obtained a $17,040,000 aquisition loan to purchase this mixed-use/multi-family property in Annapolis, MD.

Mixed-Use/Multi-Family
Annapolis, MD
$2,000,000Secured a $2,000,000 non-recourse, loan for the purpose of refinancing a retail center. This 13,706 square foot retail property is located in Gaithersburg, MD, a very strong retail submarket.

Retail Center
Gaithersburg, MD
$1,600,000Procured a $1,600,000, non-recourse, permanent loan for a 39,482 square foot property in Rockville, MD, a very strong industrial submarket just outside the Capital Beltway.

Two Flex/Warehouse Buidlings
Rockville, MD
$3,650,000Procured a $3,650,000 fixed, permanent loan for the purpose of refinancing a 24,861 square foot, Class B office building located in Reston, Virginia.
Class B Office Building
Reston, VA
$23,500,00Procured a $23,500,000, fixed-rate, permanent loan for an office building located in Washington, DC. The building was purchased in 1997.
Class B Office Building
Washington, DC
$19,000,000Procured a $20,180,000 fixed rate, permanent loan for the purpose of refinancing a 124,620 square foot, Class A office building located in North Bethesda, Maryland. Built in 1972, the property was substantially renovated and repositioned in 2006- 2007.
Class A Office Building
North Bethesda, MD
$17,500,000Procured a $17,500,000, ten year, fixed rate loan for its 304 unit apartment community located in Weymouth, Massachusetts.
Apartment Community
Weymouth, MA
$23,500,000Secured a $25,400,000 acquisition loan for a portfolio, which includes eight industrial buildings being sold. The portfolio, which totals 484,709 rentable square feet, is located in Alexandria, Virginia. The purchase price was $39,000,000 and the requested loan to value was 65%.
8 Industrial Buildings
Alexandria, VA
$5,100,000Procured a $5,100,000 fixed rate, acquisition loan for a 68,629 square foot,single story flex/office building located in Herndon, Virginia. The property was built in 1985 and was 83% leased to good quality tenants with steady rollover over the next ten years.
Flex Office Building
Herndon, VA
$6,000,000Secured a permanent loan for a medical office building in Lorton, VA to payoff the existing construction loan.

Medical Office Building
Lorton, VA
$15,000,000Secured a $15,000,000, fixed-rate, permanent loan for a Class A office building located in Washington, DC. The building was purchased in 2000 and the property has never been below 95% leased during their ownership.
Class A Office Building
Washington, DC
$25,150,000Procured a $25,150,000 construction loan for the development of 186 garden-style apartments located in Elkridge, Maryland.
186 Garden Style Apartments
Elkridge, MD
$16,000,000Obtained financing for a $16,000,000 construction loan for the development of 168 garden-style apartments located in Teays Valley, West Virginia. Teays Valley is a developing area approximately 16 miles northwest of the city of Charleston.
168 Garden Style Apartments
Teays, WV
$22,000,000Secured a $22,000,000, fixed-rate, permanent loan for an office building located in Reston, VA.
Office Building
Reston, VA
$10,000,000Secured financing for with a fixed-rate, permanent loan for a shopping center, located in Burke, Virginia.
Shopping Center
Burke, VA
$20,000,000Secured a $20,000,000 fixed, permanent loan for this 81,685 square foot retail property located in Arlington, Virginia and is part of a mixed-use condominium development.
Retail Property
Arlington, VA
$18,000,000Procured an $18,000,000, fixed-rate, permanent loan for a shopping center located in Gaithersburg, Maryland.
Shopping Center
Gaithersburg, MD
$19,350,000Obtained financing with a fixed, permanent loan for a 200-unit, apartment complex. The apartments are located in the heart of Charlottesville, only three miles from the University of Virginia and approximately four miles from downtown Charlottesville.
200-Unit Apartment Complex
Charlottesville, VA
$15,000,000Obtained a $15,000,000 revolving line of credit for residential land/development. The property is a 121.98-acre site located in Wilmington, North Carolina.
Residential Development
Wilmington, NC
$13,650,000Secured an acquisition loan for a Class B office building located in Silver Spring, Maryland.
Class B Office Building
Silver Spring, MD
$16,000,000Secured a $16,000,000 permanent loan for a technology center located in Germantown, MD.
Technology Center
Germantown, MD
$27,120,000Procured a mezzanine loan for a 119,369 SF, Class B office building. The building was constructed in 1955 and substantially renovated in 1988. The property is encumbered with an unsubordinated ground lease, which expires in 2057. The D.C. Government leases the majority of the building at a substantially below market rent and has occupied the building since 1987.
Class B Office Building
Washington, DC
$15,000,000Procured a $15,000,000 fixed, permanent loan for a mixed-use building located in Alexandria, Virginia.
Mixed-Use Building
Alexandria, VA

Charles O. DuBose, Jr.

Charles O. DuBose, Jr.
Managing Director

804.565.2013 | cdubose@phillipsrc.com

Mr. DuBose joined Phillips Realty Capital in 2002 to establish a local presence in Richmond, Virginia. He currently focuses on originating loans in the Eastern and Central Virginia markets. Mr. DuBose's background includes various finance related positions in both commercial and investment banking with Bank of America and Wachovia Securities. Mr. DuBose earned his Bachelor of Arts degree in Economics from Davidson College in 1990 and a master's in business administration from the Kenan-Flagler Business School at the University of North Carolina-Chapel Hill in 1998.

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Recent Transactions

Charles O. DuBose, Jr.

Charles O. DuBose, Jr.Managing Director

Charles O. DuBose, Jr.
Managing Director