Potomac Realty Capital, LLC Announces The $9.6 million Funding of the Mayfaire Apartments, Lexington, Maryland.

Needham, MA  – On March 31, 2005, Potomac Realty Capital, LLC (“Potomac”) closed a $9.6 million bridge loan on a 144-unit, Class A, multi-family property located in Lexington Park, Maryland. Proceeds from the loan provided the borrower with the  capital necessary to acquire the Property.  The loan was part of a wealth management plan for the borrower, in that, it helped to defer capital gains through an IRS Code Section 1031 tax deferred exchange.

In addition to a quick closing (less than 20 days from application date), Potomac was able to provide the borrower with the flexibility to borrow additional proceeds in the future by using the property as collateral.  The additional proceeds will be used to continue the growth of the borrower’s portfolio and will bear the same low rate as the original bridge loan in funding.

Potomac Realty Capital 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.

Media Contact: Caroline Murphy, 781-972-0170, ext. 278