PRC Secures $36.5 Million for Reynolds Development’s Altria Building
Bethesda, MD, June 20, 2017 – Phillips Realty Capital today announced that it secured $36,500,000 of permanent financing on behalf of Reynolds Development for the Altria Building at Reynolds Crossing located at 6603 W. Broad Street in Richmond, Virginia. Phillips Realty Capital Managing Director Charles DuBose arranged the financing. Located in the Reynolds Crossing mixed-use […]
PRC Arranges $200 Million from TH Real Estate for Lerner’s 1775 Tysons Boulevard
Bethesda, MD, June 19, 2017 – Phillips Realty Capital announced that a $200,000,000 transaction on behalf of Lerner Enterprises has closed and funded. Permanent financing for 1775 Tysons Boulevard, the world-class 17-story office tower in Tysons, Virginia, was provided by TH Real Estate, the real estate investment management arm of TIAA (Teachers Insurance and Annuity Association […]
PRC Insights – 4 Reasons Why CMBS is Ready for a Refresh
4 Reasons Why CMBS is Ready for a Refresh Last year, several credit ratings agencies were sounding the alarm that CMBS may be on the verge of a 2007-style downward spiral. Part of the reason for that worry is the uncertainty about the new risk retention rules that went into effect in December as part […]
Steve Shaw in the Washington Business Journal
Bethesda, MD, May 19th, 2017 – Phillips Realty Capital CEO Steve Shaw recently weighed in with Washington Business Journal on CMBS debt approaching maturity: The troubled properties are mostly suburban, suffer from high vacancy rates, aren’t close to a Metro station, need substantial and costly renovations or are in parts of the region where demand for […]
PRC Arranges $26.5 Million Permanent Financing for RMJ Development’s Evergreens at Columbia Town Center
Bethesda, MD, March 20, 2017 – Phillips Realty Capital announced that a $26,500,000 transaction on behalf of the RMJ Development Group has closed and funded. Permanent financing for The Evergreens at Columbia Town Center, a 156-unit active adult apartment community in Columbia, MD, was provided by PGIM Real Estate Finance. The financing was structured by […]
PRC Arranges $90 Million in Permanent Financing for Rushmark’s West Broad Residences
Located in the heart of Falls Church at 301 West Broad Street, the seven-story complex features 285 residential units, a 60,000 square foot Harris Teeter grocery store, 2,250 square feet of ancillary retail, and an underground parking garage. Apartments started leasing in January, and the Harris Teeter store opened in July. Rushmark structured a creative land acquisition strategy […]
PRC Secures $24 Million in Financing for Monument’s 8th & Main Apartments
Bethesda, MD (September 13, 2016) – Phillips Realty Capital today announced that it secured $24,000,000 of permanent financing on behalf of The Monument Companies (“Monument”) for its newly renovated 8th & Main Apartments located in the heart of downtown Richmond, Virginia. Phillips Realty Capital today announced that it secured $24,000,000 of permanent financing on behalf […]
PRC Structures $18.7 Million Construction Loan for Residence Inn Adjacent to Virginia Tech
Bethesda, MD (July 18, 2016) – Phillips Realty Capital today announced that it secured an $18,667,500 construction loan on behalf of Newport Hospitality Group, Inc. and Collegiate Inn of Blacksburg, LLC. for the development of a new Marriott Residence Inn adjacent to the campus of Virginia Tech in Blacksburg, Virginia. Phillips Realty Capital today announced […]
Phillips Structured $43.25 Million for Portland Canopy by Hilton
Portland, OR & McLean, VA (June 30, 2016) – Today Canopy by Hilton, Hilton Worldwide’s (NYSE:HLT) hotel brand that redefines the lifestyle hotel category, and The Buccini/Pollin Group, unveiled plans for Canopy’s first hotel in Portland, Oregon. Today Canopy by Hilton, Hilton Worldwide’s (NYSE:HLT) hotel brand that redefines the lifestyle hotel category, and The Buccini/Pollin […]
Reina Abboud and Jessie Way Join Phillips Realty Capital
Washington, DC (April 1, 2016) – Phillips Realty Capital is pleased to welcome two new team members, Reina Abboud, Financial Analyst, and Jessie Way, Director of Transaction Services. Phillips Realty Capital is pleased to welcome two new team members, Reina Abboud, Financial Analyst, and Jessie Way, Director of Transaction Services. Reina Abboud joins Phillips Realty […]
