Needham, MA - Potomac Realty Capital, LLC (“Potomac”), a full-service provider of bridge, mezzanine and permanent commercial real estate loans, structured and closed a $4.5 million bridge loan, for the acquisition of a 72-unit apartment complex located in Ansonia, CT. The property is located approximately 11 miles from both New Haven and Bridgeport, CT and 70 miles northeast of New York City. Twenty four percent of Connecticut’s population resides in this SMA. The Property is situated in close proximity to highways and major retail centers making this an attractive locale for residents. The borrower is a seasoned multi-family investor and operator in the Bridgeport SMA whose portfolio currently consists of eight multi-family assets containing a total of 435 units. The complex is currently 97% occupied and the Borrower is projecting increases to the operating income by re-leasing 7,700/sf of commercial space at the Property and increasing the rental rates to the client base. The loan was underwritten at a 94% LTV with an 18-month term/12-month extension, interest only. Dan Palmier, President & CEO of Potomac said, “We were pleased to have demonstrated Potomac’s flexible underwriting and creative structuring in order to successfully complete the acquisition of this valued-added property for this first-time Borrower. Further, it is always a victory when we expand into an SMA for the first time and we expect to see more national exposure in the coming months”, 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