Phillips family office refinances 295-unit Charlotte apartment project

Phillips Collective has refinanced Seventeen Hundred on East, its 295-unit apartment community at 1755 Lombardy Circle in Charlotte, North Carolina, with 115 million dollars of bridge debt provided by Dwight Investment Management. The proceeds retire the construction loan on the property, fund an interest reserve and return capital to the sponsor. The development spans the 1700 block of East Boulevard in the Dilworth area and covers roughly 650,000 square feet across three brick buildings, with around 100,000 square feet of amenity space and 6,500 square feet of ground-floor retail. The family office describes the asset as a resort-inspired scheme with bespoke layouts and penthouse suites, and the property is managed by Greystar. Charlotte has absorbed one of the heaviest apartment construction pipelines in the southeast over the past three years, which has made construction-loan takeouts harder to arrange for recently delivered assets. A bridge facility of this size on a newly completed lease-up therefore says as much about the lender’s view of the submarket as it does about the sponsor.

About Phillips Collective: The Brian and Brittani Phillips family office

Phillips Collective describes itself in its own words as the family office of Brian and Brittani Phillips, focused on technology and real estate investments across the southeast of the United States. It is based on West Carson Boulevard in Charlotte, North Carolina, and states that it looks for opportunities in the rapidly evolving technology and real estate sectors with the aim of creating long-term value. Brian Phillips serves as chairman and Brittani Phillips as chief investment officer. The portfolio the office publishes spans both halves of that mandate. On the technology side it lists MedShift, founded in 2015 and working on enterprise technology, and Photonic Apparel, a wearable technology business. On the property side it lists Seventeen Hundred on East and the Morrison House, a historic preservation project dating to 1889. The office also holds a board seat at the Creative Player Foundation. The combination of an operating technology holding and a large ground-up multifamily development is unusual for a family office of this size and points to a willingness to carry development risk directly rather than through funds.

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Article Source: Commercial Observer [September 3, 2026]