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 […]
Phillips Realty Capital Welcomes Malcolm Shaw
Bethesda, MD, July 2, 2019 – Phillips Realty Capital announced that it has hired Malcolm Shaw as a managing director in its Bethesda, Maryland headquarters. He will be part of the production team, structuring debt and equity financing for the privately-owned mortgage banking firm’s commercial real estate clients. Prior to joining PRC, Shaw served as a […]
PRC Structured in Excess of $700M in Q12019, Firm’s Best Quarter Ever
Bethesda, MD, May 8, 2019 – Phillips Realty Capital announced that 1Q2019 was the best quarter in the mortgage banking firm’s 85-year history. Backed by best-in-class underwriting professionals, the production team structured more than $700 million of capital across property types and markets. The firm secured financing for retail, multifamily, office, cold storage industrial, hotel, […]
PRC Works with Brennan Investment Group on Development of Headquarters and Cold Storage Distribution Facility
Bethesda, MD, March 8, 2019 – Phillips Realty Capital is proud to have worked with Brennan Investment Group to secure development financing for a new headquarters and cold storage distribution facility for Poultry Products Northeast in Londonderry, New Hampshire. Financing was arranged by John Sieber and William Lawson and provided by Camden National Bank, a […]
PRC Structures $63 Million for Ohana Waikiki Malia Hotel in Honolulu
Bethesda, MD, February 6, 2019 – Phillips Realty Capital announced that a $63,000,000 transaction on behalf of Lucky Hotels USA has closed and funded. Benefit Street Partners provided fixed-rate permanent financing secured by the 327-room OHANA Waikiki Malia Hotel located in Honolulu, Hawaii. The financing was structured by John R. Sieber, Jr., CMB, a Principal […]
