Phillips Realty Capital CFO to Serve in Dual Role as CFO at EB5 Capital
Bethesda, MD, July 17, 2015 -- Phillips Realty Capital today announced that Chief Operating and Financial Officer, Joe Tilley has taken on a new companion role as the CFO of EB5 Capital, Phillips Realty Capital’s joint venture partner and leader in the EB-5 immigrant investor industry.
The Phillips Realty Capital/EB5 Capital joint venture brings together real estate finance and EB-5 investing expertise to match qualified immigrant investors with prominent real estate development partners to finance high-quality mixed-use, hospitality, and residential development projects. The Phillips Realty Capital/EB5 Capital team offers the ability to provide non-recourse construction financing that can take the form of a senior loan, mezzanine loan, preferred equity or joint venture equity.
“Many of our clients see EB-5 financing as an attractive source of lower-cost capital to add to their capital stack,” said Phillips Realty Capital CEO, C. Stephen Shaw, Jr. “The combined real estate, finance, and EB-5 program expertise of the Phillips/EB5 Capital team is unmatched in the industry. Joe’s leadership as CFO at both organizations strengthens the joint venture and our shared commitment to best-in-class business practices.”
“We welcome Joe’s passion for precision,” said Angelique Brunner, Founder & President of EB5 Capital. “Joe stepping into the CFO role at EB5 Capital further enables us to provide investors and developers an unparalleled level of professionalism and institutional practices. It also enables me and the rest of our team to focus on raising capital and identifying promising economic development opportunities.”
Tilley remains responsible for overseeing all aspects of Phillips Realty Capital's operations and all financial reporting and accounting functions. In addition, he will continue to oversee the management of the firm’s $2 billion loan servicing portfolio. As CFO of EB5 Capital, Tilley is responsible for the oversight of all of the finances of EB5 Capital and its investments. This includes project and tax reporting to foreign investors, as well as establishing controls maintained for the safeguarding of investments and all EB5 Capital assets.
“We’ve seen tremendous growth at both companies this past year,” said Tilley. “There is really great synergy between the two firms. I am excited to provide financial and strategic leadership for both Phillips and EB5 Capital.”
To accommodate Tilley’s dual roles, Phillips Realty Capital appointed Nancy Oliver to serve as its Accounting Manager. Ms. Oliver spent the previous three years with Phillips Realty Management where she oversaw all accounting functions related to the company’s portfolio of managed properties. Prior to Phillips, she worked as an Account Manager for Human Vision, LLC, a real estate development company. Additionally, EB5 Capital appointed Caroline Andersen as Director of Finance and Accounting, working under Tilley’s leadership. After beginning her accounting career at Baker Tilly Virchow Krause, LLP, Ms. Andersen served as the Assistant Controller for the Washington Redskins.
About Phillips Realty Capital
Phillips Realty Capital is a leader in Washington, D.C. commercial real estate finance, structuring approximately $1.2 billion in debt and equity transactions each year, and servicing a $2.0 billion loan portfolio on behalf of 24 institutional investors. Established in 1933, Phillips has a proven track record of collaborating with premier property owners, lenders, and investors to structure the most competitive transactions available in the market. With offices in Bethesda, Richmond, and Charlottesville, dedicated teams of experts deliver reliable financial analysis, precise valuations, and deep knowledge of capital markets to engineer the proper capital structure to meet each client’s needs.
About the EB-5 Visa Program
Administered by the United States Citizenship and Immigration Services (USCIS), an agency of the Department of Homeland Security, the EB-5 Immigrant Investor Program offers foreign nationals and their families the opportunity to become permanent residents of the United States in exchange for investing in a business that creates jobs for American workers. The program’s name, “EB-5,” comes from the visa category for which immigrant investors apply – the Employment-Based 5th Visa.
About EB5 Capital, Phillips Realty Capital’s Joint Venture Partner
EB5 Capital partners with foreign investor clients to help them gain permanent residency in the United States by matching them with promising investment opportunities and structuring projects to fulfill the mission of the EB-5 Program. EB5 Capital’s President, Ms. Angelique Brunner, first began raising EB-5 funds in 2007, and her first Regional Center was among the first approved by the United States Citizenship and Immigration Services (USCIS) in April 2008. EB5 Capital has raised capital for 13 transactions from more than 400 immigrant investors in nearly 50 countries, with a 100% approval rate for all past immigrant investor visa petitions.
In 2013, the principals of Phillips Realty Capital formed a joint venture with EB5 Capital, leveraging the significant real estate and capital markets experience of both teams to find high-quality investment opportunities for immigrant investors with prominent real estate partners. Several principals and investment analysts at Phillips have dual roles at EB5 Capital. EB5 Capital operates USCIS-authorized EB-5 Regional Centers a around the country, most notably in Washington, D.C., California, and New York, offering investors a level of choice, safety and flexibility unmatched in the industry. Read more at www.eb5capital.com.