Apartment Community
Gaithersburg, MD
Procured a floating rate, construction loan for this 204-unit, seven building, garden-style apartment community in Frederick, Maryland. A national bank provided the financing for this development.
Office Building
Arlington, VA
Procured a fixed-rate, permanent loan for this two-story, Class-A medical office building located in Lorton, Virginia. The property contains 20,947 rentable square feet and is 100% leased. A local bank provided the financing for this transaction.
The project, which spans two city blocks in Northwest Washington, DC, anchored by a Giant grocery, contains approximately one million square feet of mixed-use development including residential, retail and hotel uses. Financing was procured from a private investor.
Secured a fixed-rate, permanent loan to refinance this apartment building in Rockville, Maryland. A national bank provided the financing for this transaction.
Apartment Building
Rockville, MD
Flex/Industrial Warehouse
Elkridge, MD
Secured fixed-rate permanent financing to refinance a three-strory office building in Northern Virginia. Financing included structuring around high vacancy and near term rollover.
Office Building
Fairfax, VA
Two Flex Buildings
Sterling, VA
Secured a fixed-rate permanent loan to refinance this three-story office building in Sterling, Virginia. Financing was provided by a national life insurance company.
Office Building
Sterling, VA
Class A Office Portfolio
Chantilly, VA
Secured a fixed-rate, permanent loan to refinance this office portfolio of two buildings in Reston, Virginia. Financing was obtained from an international bank.
Fast Food Portfolio
DC, MD, VA
Procured a fixed-rate, 15-year loan to refinace this 136,762 square foot office building located in Bethesda, Maryland. This six-story building was constructed in 1981 and is equipped with three elevators.
Class A Office Building
Bethesda, MD
Long-Term Ground Lease
Bethesda, MD
Apartment Building
Washington, DC
Apartment Building
Washington, DC
Portfolio
Gainesville, VA
Secured a 10-year, fixed-rated loan in the amount of $20,000,000 to refinance this 143,500 square foot shopping center in Silver Spring, Maryland. Financing was provided by one of our correspondent lenders.
Shopping Center
Silver Spring, MD
Obtained a fixed-rate Fannie Mae loan for this established multi-family property. The apartment community is located in Santee, California, a San Diego suburb.
Apartment Community
Santee, CA
Financing was provided by one of our correspondence lenders for this medical office building in Silver Spring, MD.
Medical Office Building
Silver Spring, MD
Obtained a $17,040,000 aquisition loan to purchase this mixed-use/multi-family property in Annapolis, MD.
Mixed-Use/Multi-Family
Annapolis, MD
Retail Center
Gaithersburg, MD
Two Flex/Warehouse Buidlings
Rockville, MD
Medical Office Building
Lorton, VA
Friday, February 19, 2010
Phillips Realty Capital, a 77-year-old mortgage bank that focuses on the Mid-Atlantic region, wants to step up its role as an advisor to cash-strapped property owners. The Bethesda, Md., firm plans to hire an undetermined number of commercial real estate specialists this year for a growing team that helps borrowers work out underwater loans. The group, for example, seeks to arrange loan extensions, raise debt or equity, or line up joint-venture partners.
The process can involve negotiating with special servicers and B-note holders on commercial MBS loans. "Capital is not going to come unless it has the right traffic cop to get it there, and that's where we come in," said chief executive C. Stephen Shaw. Phillips currently has some advisory contracts, but Shaw declined to specify the amount. He said that all told, the company has $500 million of active loan applications or advisory contracts.
Before the credit market tanked in 2007, Phillips arranged about $1.5 billion of mortgages a year on all property types. Most were placed with insurance companies, though some also went to banks and CMBS programs. Going forward, Phillips will also solicit capital from fund managers, investment shops, mortgage REITs and private equity vehicles. Staffers working on the advisory initiative include mortgage veterans Richard Bopp, Ryan Pinson and Fabrice Vasques, who joined Phillips last year. They previously worked on a 15-member commercial real estate finance team, led by Bopp, in the Tysons Corner, Va., office of Capmark. That lender and fund operator, based in Horsham, Pa., went bankrupt in October.
All three left Capmark last spring. Bopp and Vasques joined Phillips as managing directors soon after, but Pinson worked as a consultant to the FDIC before joining as a director in December. They report to Shaw, who now oversees an 18-member team of lending and analytics specialists. Phillips, which focuses on commercial property owners and developers in Maryland, Virginia and Washington, services about $1.6 billion of nonrecourse loans, most of which were funded by life insurers.