Bethesda’s Phillips Realty Capital Acquired

Bellwether Enterprise Real Estate Capital LLC (BWE), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc. (Enterprise), announced in January that it acquired Bethesda-based, Phillips Realty Capital (Phillips).

Based in Bethesda, with offices in Alexandria, Charlottesville and Richmond, VA, Phillips has been a fixture in the Washington, D.C. real estate community for 85 years. Led by C. Stephen Shaw, Jr., now executive vice president, the team of experienced commercial real estate finance professionals will now be part of a national, privately-owned platform that will provide expanded financing solutions for its clients.

“Shaw and his team have deep roots in the D.C. region’s commercial real estate market and a strong culture like ours,” said DJ Effler, president of BWE. “The team is an ideal partner for BWE, and we are thrilled to have them join as our largest production office.”

Shaw and his team have historically originated over $1.5 billion in annual production, with total volume for 2021 expected to hit $1.9 billion thanks to a focus on multi-family lending and strong borrower relationships.

Shaw, who served as president and CEO of Phillips, has structured and originated over $10 billion in commercial real estate financing during his 40-plus-year career. In addition to his roles in investor relations, strategic development and structuring new business opportunities, Shaw serves on the board of directors for several companies.

“Our team has developed deep personal relationships with its debt and equity clients over the years,” said Shaw. “With direct access to Fannie, Freddie and FHA lending, as well as extensive life company, CMBS, bank and debt fund relationships, we look forward to using BWE’s national platform to share new opportunities with our client partners. Additionally, BWE has a proprietary bridge lending program that we are excited to offer to borrowers.”

John R. Sieber, executive vice president, Daniel S. Shiff, senior vice president, Joseph C. Tilley, director of financial operations, David C. Foulk, senior vice president, William Wrench, vice president, Mark Remington, senior vice president, Adam Bieber, senior vice president and Charles DuBose, senior vice president, are among the 20 employees who will also join the BWE team.

From Phillips Realty Capital:

“We are pleased to share exciting news that today BWE (Bellwether Enterprise) announced their acquisition of Phillips Realty Capital. BWE is a national, full-service commercial and multifamily mortgage banking company with 30 production offices across the country and an integrated servicing platform based in Cleveland. It is employee-owned and a subsidiary of Enterprise Community Investment, a national nonprofit investing in, creating and preserving affordable homes in diverse communities across the country.

Continuity and culture are as important to BWE as they are to us. We want you to know that we are the same people, with the same approach, now part of something bigger.”