BETHESDA, MD—Locally-based Phillips RealtyCapital expects to end this year with $1.4 billion or soin transactions. A few of these deals were financed withEB5 capital, an intriguing new source of fundingfor commercial real estate projects.
One example is MRP Residential and Florida Rock Properties'Capitol Riverfront mixed-use project, which has closed on a totalof $82 million of construction financing for their CapitolRiverfront mixed-use project. Of that amount, $17 million in the form of preferred equity has been provided viaEB5 capital, arranged by Phillips Realty.
Another example is Doug Jemal's spec project at 1000 F St., CFOJoe Tilley tells GlobeSt.com. "Our EB5 capitalgroup will be providing that funding for that project as well," hesays.
Continue Reading for Free
Register and gain access to:
- Breaking commercial real estate news and analysis, on-site and via our newsletters and custom alerts
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical coverage of the property casualty insurance and financial advisory markets on our other ALM sites, PropertyCasualty360 and ThinkAdvisor
*May exclude premium content
Already have an account?
Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
Erika Morphy
Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.
