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
As a correspondent Mortgage Banker, Phillips Realty Capital provides comprehensive loan servicing on many of the loans that we originate. Phillips currently services more than 200 loans, with an outstanding balance in excess of $1.6 billion, held by approximately 15 different capital sources, including life insurance companies, pension funds and other capital market sources.
In 2007, in an effort to increase our level of service to our Lenders and clients, Phillips Realty Capital executed a Sub-Servicing Agreement with Essex Financial Services in Denver, CO. Under this Agreement, Phillips outsourced the traditional loan administration functions to Essex. These include the collection and remittance of monthly payments, the management of escrow accounts, and the compliance with individual Lender requirements on insurance, real estate taxes and U.C.C. filings.
This outsourced arrangement has enabled Phillips to focus on higher-level servicing responsibilities, such as the processing of all Lender and Borrower requests. This includes ongoing asset surveillance of all the properties in the Phillips servicing portfolio, including the preparation of Watchlists on behalf of its Lenders. Phillips also re-underwrites each property in the servicing portfolio on an annual basis and reports on the Lender's risk position based on current market conditions. In addition, each year, Phillips performs a physical property inspection of each property in its servicing portfolio advising each Lender of the condition of their collateral asset.
The Phillips servicing arrangement with Essex Financial Services has been warmly received by our borrowers and regarded by many of our Lenders as an industry model for the future. Our goal remains to provide a superior level of customer service that rivals any in the mortgage banking industry.