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, and single-family rental properties in seven states across the country.
“Our first quarter has been outstanding, and we are confident that this momentum will carry into the balance of 2019,” said Joseph C. Tilley, Phillips Realty Capital Chief Operating Officer. “Capital is abundant, and our deep relationships with all types of capital providers allow us to find the most effective sources for our clients. On the other hand, product is scarce. Our history working with experienced developers and property owners enables us to offer attractive investment opportunities for capital providers.”
Speaking about changes in the market, Tilley explained, “Transactions have grown more complex. Our expert underwriting team has the ability to structure capital configurations to meet the objectives of everyone involved. The alignment of our relationships and capabilities has resulted in a robust pipeline. We are excited about the coming months.”
ABOUT PHILLIPS REALTY CAPITAL
Phillips Realty Capital is a leader in Washington, D.C. commercial real estate finance, structuring in excess of $1.2 billion in debt and equity transactions a year and servicing a $2.5 billion loan portfolio on behalf of 25 institutional investors. Established in 1933 and still privately owned, Phillips has a proven track record of collaborating with premier property owners, lenders, and investors to structure the most competitive transactions available in the market. With offices in Bethesda, Richmond, Charlottesville, and Alexandria, dedicated teams of experts deliver reliable financial analysis, precise valuations, and deep knowledge of capital markets to structure capital stacks that leverage debt and equity financing to maximize the value of client assets.