PRC Structures $71,550,000 Refinance for Chicago Data Center Portfolio
/in News /by erobirdsBethesda, MD, April 7, 2021 – Phillips Realty Capital announced that its client, Element Critical and Safanad Inc., closed on a $71,550,000 project loan for their Chicago data center portfolio. The loan from Annaly Capital Management, Inc.’s commercial real estate group will be used to enhance and expand two data center facilities located across the […]
PRC Advises on RAS’s Acquisition of Class A Apartment Complex in Nassau’s Wildlight Community
/in News /by erobirdsBethesda, MD, March 4, 2021 – RAS Property Group of Boca Raton announced its off-market acquisition of The Lofts at Wildlight, a brand new 279-unit apartment garden style apartment complex in the Wildlight master planned community located 20 minutes north of downtown Jacksonville, Florida. RAS acquired the asset for $55.8 million. The Property is comprised […]
Capital Markets Insights: Steepening Treasury Yield Curve Signals Opportunity
/in News /by erobirdsBethesda, MD, February 19, 2021 – As we all witnessed this week, Treasury yields continued to drift higher, with the 10 and 30-year Treasury hitting levels not seen since a full year ago. The benchmark 10-year yield leaped above 1.30% and the 30-year U.S. yield also rose – hitting above 2.1% – which were both […]
PRC Structures $141.8 Million Bridge Financing for Recently Delivered Apartments Near Amazon HQ2
/in News /by erobirdsBethesda, 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
/in News /by erobirdsBethesda, 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
/in News /by erobirdsBethesda, 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 Announces $29,000,000 Bridge Financing for Reston Metro Center One
/in News /by erobirdsBethesda, MD, May 29, 2020 – Phillips Realty Capital (“PRC”) announces that it has arranged $29 million in financing for Reston Metro Center One (the “Property”), a 124,076 SF office building located at 12120 Sunrise Valley Drive and within walking distance of the future Reston Town Center Silver Line Metrorail Station. The PRC team worked […]
PRC Secures $49,625,000 Acquisition Loan for Two Herndon Office Buildings
/in News /by erobirdsBethesda, MD, January 16, 2020 – A joint venture between Goodstone LLC and Waterfall Asset Management LLC announced that it secured $49,625,000 of debt financing from Bridge Investment Group to acquire and renovate Northridge I & II, two separate but contiguous properties that jointly offer 258, 452 square feet of office space in Herndon, Virginia […]
PRC Structures $27.8M Investment with Argosy for Woodfield OZ-Qualified Apartments
/in News /by erobirdsBethesda, 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 […]
PRC’s Mark Remington Share Insights on Hotel Financing
/in News /by erobirdsBethesda, MD, November 7, 2019 – PRC’s Mark Remington was part of a panel discussion on “The Anatomy of the Capital Stack & Creative Financing” at Bisnow’s Hotel Leadership, Investment & Management Summit. …The pullback on LTV creates more opportunities for gap financing … Another source that can fill the gap is EB-5 financing, said […]