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BWE Expands Presence in Washington, D.C. with Experienced Commercial Real Estate Finance Firm


Bellwether Enterprise Real Estate Capital LLC (BWE), the commercial and multifamily mortgage banking subsidiary of Enterprise Community Investment Inc. (Enterprise), announced today that it has acquired Washington, D.C. area-based, Phillips Realty Capital (Phillips). With offices in Bethesda, MD as well as 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.

BWE provides flexible financing solutions for clients covering the entire spectrum of commercial and multifamily real estate. For more information on BWE’s products and services, visit us at:

BWE is a national, full-service commercial and multifamily mortgage banking company. As a subsidiary of Enterprise Community Investment, BWE has production offices across the country and an integrated servicing platform based in Cleveland. With local market expertise, national lending relationships and financing structure experience, we provide clients with competitive, creative solutions for their financing needs. BWE provides loans for a range of institutional investors including life insurance companies, pension funds, commercial banks and CMBS lenders and is a Fannie Mae Delegated Underwriting and Servicing (DUS®) lender, Freddie Mac Optigo™ seller/servicer for Conventional and Targeted Affordable Housing Loans, Federal Housing Administration (FHA) approved Multifamily Accelerated Processing (MAP) lender and U.S. Department of Agriculture (USDA) Section 538 Rural Development lender.

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