Needham, MA, - Potomac Realty Capital, LLC (“Potomac”), a full-service provider of bridge, mezzanine and permanent commercial real estate loans, structured and closed four permanent loans totaling $90 million in just 30 days. Below are the highlights of these transactions:
Location Units Rate Loan Amount
Tennessee Multi-family Property 254 Units 5.82% $19,200,000
Washington Multi-family Property 224 Units 5.93% $22,250,000
Florida Multi-family Property 340 Units 5.86% $23,300,000
New Jersey Multi-family Property 240 Units 5.87% $25,000,000
“These recent transactions illustrated our proficiency and competitiveness in executing permanent financing solutions,” said Dan Palmier, President and CEO of Potomac. “We are pleased with both the volume financed and with our conversion rate of structured to permanent loans. Potomac was able to offer these Borrowers favorable terms on each of the transactions which were all funded for the purpose of re-financing. The transactions also substantiated our capability as a national lender, demonstrating our ability to offer a “one stop source” of financing products to borrowers in all markets throughout the US. These fundings will certainly assist us in reaching our production goal for 2006 which is well beyond the $1 billion mark,” 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 $2 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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