Phillips Realty Arranges $26.5M in Financing for Multifamily Development in Metro D.C.

by Taylor Williams

COLUMBIA, MD. — Phillips Realty Capital has structured $26.5 million in permanent financing for The Evergreens at Columbia Town Center, a 156-unit apartment development in Columbia, roughly midway between Washington, D.C. and Baltimore. Adam Bieber of Phillips arranged the financing on behalf of RMJ Development Group, a firm based in McLean, Va. PGIM Real Estate Financing, a division of Prudential Financial Inc., provided the funds.

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