Needham, MA, - Potomac Realty Capital, LLC (“Potomac”), a full-service provider of bridge, mezzanine and permanent commercial real estate loans, structured and closed a $4.65 million bridge loan for the renovation and conversion of a brownstone property located in the affluent Beacon Hill neighborhood of Boston. Built in 1899, the picturesque brownstone is located within walking distance to area attractions such as; the Theatre District, Newbury Street, Quincy Market, Government Center, Copley Square and the Financial District. The appealing façade is highlighted by its traditional brick exterior, iron balconies and roof-line dormers. The high-end property was purchased by an experienced Boston-based real estate investor and developer. The developer plans to renovate the four units with high-end amenities and convert them into luxury condominiums all while maintaining the traditional character of the building. Despite some of the current press, we believe the market for this product to be fundamentally strong. “This repeat client selected Potomac for our understanding of both the intrinsic value of the real estate, as well as our flexibility in structuring and closing the transaction. We manage our partners with a great deal of care and concern for their goals,” said Dan Palmier, President & CEO of Potomac. “Potomac prides itself on comprehending our clients’ vision and using that knowledge to develop a creative financial solution. This approach has resulted in the development of many lasting partnerships with entrepreneurs throughout the country,” added Palmier. The loan was arranged by Barry P. Winer of Capital Access, Inc. a full service mortgage broker located in Newton, MA.
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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