|Potomac Closes $40 Million Perm Loan for Maryland Multi-family Portfolio|
Needham, MA - Potomac Realty Capital, LLC (“Potomac”), a full service commercial capital provider, arranged a $40M permanent loan for two mid-rise apartment properties totaling 229 units in Hyattsville, MD. Potomac previously provided a $3.2 million equity investment and a $14 million first mortgage loan for the portfolio nearly 24 months ago. Potomac assisted this longtime client in consolidating into one larger permanent loan through a 10-year Freddie Mac loan. Dan Palmier, President & CEO of Potomac said, “The transaction was a win win for both parties. The borrower was able to capitalize on a more competitive interest rate and we were able to demonstrate our continued ability to offer all types of financing and quick and reliable closings to meet the needs of our clients.”
Potomac finances real estate transactions designed for visionary entrepreneurs who value creative financial solutions, strong relationships and outstanding service. Since its formation in June of 2004, Potomac has originated over $2.5 billion in commercial mortgage loans. Its 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 us at (781) 972-6800.
Media Contact: Elizabeth Sarhaddi
Vice President, Marketing
Potomac Realty Capital
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