PRC Structures $57.5 Million from Rialto for Highbrook’s Value-Add Acquisition of Florida Industrial Portfolio
Bethesda, MD, August 26, 2021 – Phillips Realty Capital (“PRC”) is pleased to announce the closing of a $57.5 million bridge loan for the acquisition and repositioning of a four property, 740,400 square foot industrial portfolio located in Miami and Tampa, Florida. The PRC team worked exclusively on behalf of repeat client HighBrook Investors (“HighBrook”), […]
PRC Arranges $96.2 Million to Redevelop Two Apartments Properties Near Boston University & Harvard University
Bethesda, MD, June 15, 2021 – Phillips Realty Capital (PRC) announced that the firm structured loans totaling $96,200,000 for its client, The Hamilton Company, to refinance and completely renovate two apartment properties located within close proximity to Boston University and Harvard University. PRC Managing Director Adam Bieber led the capital raise along with Harmon Handorf, […]
PRC Facilitates $23.4 Million Refi of Class-A Apartments in Richmond’s Manchester Submarket
Bethesda, MD, May 11, 2021 – Phillips Realty Capital represented Thalhimer Realty Partners on its recent refinancing of The Overlook at City View. From Alliant Credit Union: Alliant Credit Union announced the closing of a $23.4 million loan to refinance a recently constructed, Class A, mixed-use property containing 128-unit residential units and 8,000 SF of retail […]
PRC Structures $58 Million Debt & Equity for Varsity Investment to Build Upper Marlboro Apartments
Bethesda, MD, May 10, 2021 – Phillips Realty Capital (PRC) announced that its client Varsity Investment Group closed on a $45.1M construction loan from United Bank, for the development of St. Joseph Apartments, a four-story, stick-built, elevatored, 268-unit project in Upper Marlboro, Maryland. PRC’s Mark Remington and Alec Jenkins sourced and structured the $58M capital […]
PRC Structures $38,950,000 Equity Financing for IDI’s Rivergate II Apartments
Bethesda, MD, April 28, 2021 – Working on behalf of The IDI Group Companies, a repeat client, Phillips Realty Capital structured $38,950,000 equity financing for the development of a 318-unit mid-rise multifamily community adjacent to IDI’s 402-unit Rivergate North apartment complex in Woodbridge, VA. The project is located within a Qualified Opportunity Zone and is […]
PRC Structures $71,550,000 Refinance for Chicago Data Center Portfolio
Bethesda, MD, April 7, 2021 – Phillips Realty Capital announced that its client, Element Critical and Safanad Inc., closed on a $71,550,000 project loan for their Chicago data center portfolio. The loan from Annaly Capital Management, Inc.’s commercial real estate group will be used to enhance and expand two data center facilities located across the […]
PRC Advises on RAS’s Acquisition of Class A Apartment Complex in Nassau’s Wildlight Community
Bethesda, MD, March 4, 2021 – RAS Property Group of Boca Raton announced its off-market acquisition of The Lofts at Wildlight, a brand new 279-unit apartment garden style apartment complex in the Wildlight master planned community located 20 minutes north of downtown Jacksonville, Florida. RAS acquired the asset for $55.8 million. The Property is comprised […]
Capital Markets Insights: Steepening Treasury Yield Curve Signals Opportunity
Bethesda, MD, February 19, 2021 – As we all witnessed this week, Treasury yields continued to drift higher, with the 10 and 30-year Treasury hitting levels not seen since a full year ago. The benchmark 10-year yield leaped above 1.30% and the 30-year U.S. yield also rose – hitting above 2.1% – which were both […]
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 […]
