PRC Secures $62.24 Million Capital Stack for Legacy’s Acquisition of a Data Center Outside of Atlanta
Bethesda, MD, August 6, 2018 – Phillips Realty Capital (PRC) announced that two transactions totaling $62,240,000 have closed and funded on behalf of Legacy Investing, LLC for the acquisition and joint venture operation of a fully-leased Tier IV data center located in Alpharetta, GA. Phillips Realty Capital Managing Director Adam Bieber and Director William Lawson […]
PRC Secures $22.5 Million Financing for Rappaport’s WesTech Corner Retail Center
Bethesda, MD, June 7, 2018 – Phillips Realty Capital announced that a $22,500,000 transaction on behalf of repeat client Rappaport has closed and funded. United Bank provided permanent financing for WesTech Corner, a 41,262-square-foot community shopping center located at the intersection of Route 29 and Prosperity Drive in Silver Spring, Maryland. Mark Remington, Principal at […]
PRC in the News: MBA Dealmaker 6/6/18
Bethesda, MD, June 6, 2018 – Phillips Realty Capital is in today’s issue of MBA Dealmaker with which can be read in its entirety on their website or below. The article covers the recent closings of Crowne Plaza Dulles and Bexley Lake Forest. Phillips Realty Capital, Bethesda, Md., secured $70 million in commercial mortgage-backed securities and […]
PRC Secures $40 Million Financing for Weinstein Properties’ Acquisition of Bexley Lake Forest
Bethesda, MD, June 4, 2018 – Phillips Realty Capital announced that Weinstein Properties secured $40,000,000 of long-term financing from New York Life Insurance Company to purchase a 334-unit Class A apartment complex 30 minutes north of Dallas, Texas. Phillips Realty Capital Managing Director Charles DuBose structured the long-term, fixed-rate loan. Located just outside downtown McKinney, […]
PRC Arranges $30 Million Financing for Rocks Engineering’s Crowne Plaza Dulles Airport Hotel
Bethesda, MD, May 9, 2018 – Phillips Realty Capital announced that a $30,000,000 transaction on behalf of Rocks Engineering Company has closed and funded. Bank of America Merrill Lynch’s CMBS team provided permanent financing for the recently renovated 324-room Crowne Plaza Dulles Airport Hotel in Herndon, Virginia. Mark Remington, Principal at Phillips Realty Capital, arranged […]
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 […]
