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Bellwether Enterprise boosts its Potomac-area presence with acquisition – Crain's Cleveland Business


Phillips Realty Capital, a Bethesda, Maryland, commercial mortgage concern that has served the Washington, D.C., area for 85 years, is the latest out-of-town acquisition for Bellwether Enterprise Real Estate Capital LLC, the Cleveland-based commercial and mortgage banking unit of Enterprise Community Investment Inc., the affordable-housing provider founded in Columbia, Maryland.

The acquisition, which Bellwether Enterprise announced on its website, brings to the company offices in Alexandria, Charlottesville, and Richmond, Virginia, as well as Bethesda. Led by C. Stephen Shaw Jr., who has joined Bellwether as an executive vice president, the deal adds 20 mortgage professionals and team members to Bellwether Enterprise.

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

Shaw and his team expected to hit $1.9 billion when loan production for 2021 is completed, and historically originated over $1.5 billion in annual production. Shaw said in the statement that Phillips Realty Capital was attracted to Bellwether Enterprise by its national platform and ability to offer more options for Phillips clients as well as its proprietary bridge lending program.

Bellwether Enterprise is a national, full-service commercial and multifamily mortgage banking company. It had loan volume of almost $11 billion in 2020. As a subsidiary of Enterprise Community Investment, it has production offices across the country and an integrated servicing platform based in Cleveland.



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