Entries by erobirds

PRC Structures $141.8 Million Bridge Financing for Recently Delivered Apartments Near Amazon HQ2

Bethesda, MD, November 30, 2020 – Phillips Realty Capital announced that its client, Erkiletian Development Company, closed on a $141,789,000 bridge loan from global investment firm KKR to recapitalize The Sur, a recently delivered Class-A 360-unit luxury apartment community in the National Landing submarket of Arlington, Virginia near Amazon’s HQ2 and Virginia Tech’s Innovation Campus […]

PRC Arranges $12,500,000 for Peterson Companies’ National Harbor Office Building

Bethesda, MD, September 23, 2020 – Working on behalf of repeat client Peterson Companies, Phillips Realty Capital Principal Mark Remington structured $12,500,000 permanent financing from Fulton Bank for 6710 Oxon Hill Road, a 117,005 SF office building located in the National Harbor complex in Oxon Hill, Maryland. Remington said, “Peterson is a blue-chip sponsor, long-term […]

PRC Completes Full Cycle Sale & 1031 Exchange with the Acquisition of Class A Apartments in Plano, TX

Bethesda, MD, August 18, 2020 – Phillips Realty Capital (PRC) is pleased to announce that a family office client operating as The Generic Management partnered with CAF Capital Partners to jointly purchase a five-story, 459-unit Class A apartment building in Plano, TX. The acquisition was financed by a combination of 1031 exchange proceeds from a […]

PRC Structures $27.8M Investment with Argosy for Woodfield OZ-Qualified Apartments

Bethesda, MD, January 14, 2020 – Phillips Realty Capital (PRC) announced that a $27,800,000 equity financing on behalf of Woodfield Development has closed and funded. Argosy Real Estate Partners (AREP) provided a joint venture equity investment toward the development of Morrison Yard, a 380-unit, trophy multifamily community in Charleston’s Morrison Drive (NoMo) neighborhood on the […]