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 […]
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 […]
