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How A Hedge Fund Came To Finance a Middle-Market Apartment Deal

Or, a story about untapped capital for smaller deals.

By Erika Morphy | erikamorphy | Updated on August 15, 2017

Woodfield Valley Forge

BETHESDA, MD–When the locally-based Phillips Realty Capital set about to secure joint venture equity investment for the acquisition and development of an apartment community in King of Prussia, PA, it was not expecting a virtual fisticuffs among the potential lenders. But that is what it got.

“It was a fist fight between short and long term equity and short and long term debt for this deal,” Adam Bieber, managing director at Phillips Realty Capital tells GlobeSt.com.

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