PRC Celebrates 20 Years of Underwriting Excellence
Bethesda, MD, January 23, 2018 – January 2018 marked William Wrench’s twentieth year at Phillips Realty Capital where he serves as Chief Underwriter. His leadership and record of excellence have helped Phillips to earn the trust of borrowers and lenders alike. At Phillips Realty Capital, we often say that our people are our “secret sauce.” That […]
Harmon Handorf Joins Phillips Realty Capital
Bethesda, MD, January 16, 2018 – Phillips Realty Capital is pleased to welcome Harmon Handorf as Director of Underwriting. Prior to joining PRC, Harmon worked as the Director of Finance at RLJ Lodging Trust with responsibility for capital markets, real estate transactions, and segments of investor relations. Before joining a publicly traded lodging REIT, Harmon spent […]
PRC Arranges $19.175 Million Bridge Loan for BG Capital Managment Acquisition of Landmark at Waverly Place
Bethesda, MD, November 6, 2017 – Phillips Realty Capital announced that a $19,175,000 transaction on behalf of BG Capital Management has closed and funded. Ares Management provided a bridge loan for BG Capital Management’s acquisition and renovation of Landmark at Waverly Place, a 208-unit garden style apartment project located in Melbourne, Florida. The acquisition financing […]
PRC Works with Hunt Mortgage on Acquisition of a Multifamily Property in Williamsburg, VA
Bethesda, MD, October 23, 2017 – Phillips Realty Capital recently worked with Hunt Mortgage Group to secure $8.5 million in financing for the acquisition of Stratford at Williamsburg, a 156–unit apartment community in Williamsburg, Virginia. Hunt Mortgage recently released a press release which can be read in its entirety on their website or below. Hunt Mortgage […]
PRC Structures $61.5 Million Capital Stack Including Construction Loan & Preferred Equity for 1401 Pennsylvania Avenue
Bethesda, MD, September 5, 2017 – CAS Riegler Companies (CASR), Neighborhood Restaurant Group (NRG), and May Development (May) announced that a new Class-A apartment and retail development at 1401 Pennsylvania Avenue, SE is fully funded. The companies secured a $44,536,250 loan with EagleBank and a $17,000,000 preferred equity investment provided by EB5 Capital. Phillips Realty […]
PRC Arranges $31.3 Million Equity Financing for Woodfield’s Valley Forge Apartments
Bethesda, MD, August 14, 2017 – Phillips Realty Capital announced that a $31,300,000 transaction on behalf of Woodfield Investments has closed and funded. A large global investment management company provided the joint venture equity investment towards the acquisition and development of Woodfield’s Valley Forge Class A luxury apartment community located in King of Prussia, PA. […]
PRC Arranges $30 Million for Goodstone’s Repositioning of Vacant Office
Bethesda, MD, July 31, 2017 – Phillips Realty Capital secured a $30,000,000 first mortgage loan from Blue Vista Finance for Goodstone LLC’s extensive renovation and repositioning of 6116 Executive Boulevard in North Bethesda, Maryland. The financing was structured by Phillips Realty Capital’s John Sieber, David Foulk, and Patrick Kelly, based on market analysis by Bill […]
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 […]
