Needham, MA - Potomac Realty Capital, LLC (“Potomac”), a full service commercial capital provider, closed a $500,000 mezzanine loan for a luxury condo property (the “Property”), located in South Florida. The loan is for a one year term and carries a rate of 12%. The borrower will use the proceeds of the loan to re-finance the Property. Potomac closed the loan in less than one week. Dan Palmier, President & CEO of Potomac said, “This repeat borrower required a refinance and knew where to turn to get this deal funded quickly. The longstanding relationship allowed us to fund the loan in record time. We expect to exit the loan with a more advantageous permanent structure within 12 months.”
Potomac finances real estate transactions designed for visionary entrepreneurs who value creative financial solutions, strong relationships and outstanding service. Since it was formed in June of 2004, Potomac has originated over $2 billion in commercial mortgage loans. Their mission is to offer innovative financing solutions nationwide for a broad range of real estate types, including those that require more flexible underwriting. Potomac is headquartered in Needham, MA, with offices in New York, Miami, Maryland and Atlanta. For more information regarding Potomac Realty Capital, please contact Dan Palmier at (781) 972-6800.
Media Contact: Elizabeth Sarhaddi
Vice President, Marketing
Potomac Realty Capital