Needham, MA – On April 29, 2005, Potomac Realty Capital, LLC (“Potomac”) closed an $8.7 million bridge loan on a 135-unit multifamily property located in Hyattsville, Maryland.  The bridge loan, with an interest rate of 295 bps over the one-month LIBOR, provided the borrower with the necessary capital to refinance the existing first mortgage debt on the property while paying off its equity partner, both of which were carrying a less favorable interest rate/rate of return.  Potomac was able to deliver the closing in less than 30 days.

Potomac Realty Capital, formed in June 2004 is a full-service provider of customized financing for bridge, mezzanine, preferred equity and permanent real estate loans. Potomac was formed to offer innovative financing solutions for various types of real estate deals, including those that don’t meet strict underwriting guidelines.   The company is based in Needham, MA.