Phillips Realty Capital Arranges $90M Loan for Mixed-Use Project in Metro D.C.
FALLS CHURCH, VA. — Phillips Realty Capital has arranged a $90 million permanent loan for West Broad Residences, a newly built seven-story mixed-use complex in Falls Church, roughly nine miles west of Washington, D.C. Developed by Rushmark Properties, the property features 285 residential units, a 60,000-square-foot Harris Teeter grocery store, 2,250 square feet of ancillary retail space and an underground parking garage. West Broad’s apartments began leasing in January and the Harris Teeter opened in July. Stephen Shaw Jr., John Sieber Jr. and Emily Beeler of Phillips Realty Capital arranged the financing on behalf of Rushmark Properties.