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 Announces $29,000,000 Bridge Financing for Reston Metro Center One
Bethesda, 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
Bethesda, 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
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 […]
PRC’s Mark Remington Share Insights on Hotel Financing
Bethesda, 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 […]
PRC Structures $28.8M Acquisition Loan for Purchase of Class A Office in New Jersey
Bethesda, MD, October 30, 2019 – Phillips Realty Capital announced that a $28,795,000 transaction on behalf of Legacy Investing, LLC, a repeat client, has closed and funded. Bridge Investment Group provided non-recourse financing for Legacy to acquire a 205,000 square foot Class-A office building located at 77 Corporate Drive in Bridgewater, NJ. Phillips Realty Capital’s […]
PRC Works with Madison Marquette on the Recapitalization of One Light Street
Bethesda, MD, October 28, 2019 – Phillips Realty Capital’s Mark Remington is proud to have worked with Madison Marquette and Bridge Investment Group on the $185 million recapitalization of One Light Street. Located in the heart of downtown Baltimore, One Light Street is a new trophy mixed-use high rise featuring luxury residential apartments, Class A […]
PRC Structures $67 Million Data Center Value-Add Capital for Element Critical
Bethesda, MD, August 26, 2019 – Phillips Realty Capital announced that a $67,000,000 transaction on behalf of Element Critical and its sponsors, Safanad and Industry Capital, has closed and funded. A team led by Bryan Leigh at EagleBank provided the funds to refinance and improve the 199,097 SF Tier III data center and office building […]
