Needham, MA - Potomac Realty Capital, LLC (“Potomac”), a full-service provider of bridge, mezzanine and permanent commercial real estate loans, structured and closed a $6 million bridge loan for the development of Village Retail Center in West Greenwich, Rhode Island. The Village Center is part of the Centre of New England lifestyle center located in the suburbs of West Greenwich and Coventry, RI. Potomac has been involved in the financing of this portion of the development as well. Village Retail Center will consist of 160,000 square feet of office space, a hotel and a 160,000 square foot mall that will sit directly across from a Home Depot, BJ’s, and Wal-Mart. The Borrower is a seasoned commercial and residential developer in the state of Rhode Island and plans to leverage the population growth to attract additional retail development to both centers. “Potomac is pleased to have had the opportunity to provide financing for this one-of-a-kind land development.” said Dan Palmier, President & CEO of Potomac. “Once again, the established New England developer turned to Potomac for our ability to provide rapid, creative financial solutions with superior client service. This is a prime example of how our ability to add value and cultivate partnerships with our borrowers converts first-time customers into repeat customers.” added Palmier.
Potomac finances real estate transactions designed for visionary owners who value creative financial solutions, strong relationships and outstanding service. Since it was formed in June of 2004, Potomac has originated over $1.5 billion in commercial mortgage loans. Potomac was formed to offer innovative financing solutions for various types of transactions, including those that don’t meet strict underwriting guidelines. “We look past the numbers to see the intrinsic value of the deal. Always keeping our clients’ needs in mind, together with our customers, we create value.” said Palmier. 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) 972-0170.
Media Contact: Elizabeth Sarhaddi Director of Marketing Potomac Realty Capital 781.972.0170 ext.6811
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