Needham, MA - Potomac Realty Capital, LLC (“Potomac”), a full-service provider of bridge, mezzanine and permanent commercial real estate loans, closed a $9.65 million permanent loan for a 51,581 square foot office building located 7 miles northwest of Philadelphia, in Wynnewood, PA. The property serves as the corporate headquarters for this repeat Borrower. The loan was converted from a previously funded acquisition bridge loan funded by Potomac just months prior. Potomac’s bridge also provided the capital for tenant improvements and renovation proceeds. Potomac then structured a master lease and early rate locked the perm loan. The perm loan carries a fixed rate of 5.87%, interest only, for a 10-year term. Dan Palmier, President & CEO of Potomac said, “We are extremely pleased to see the synergy between our structured finance loans and permanent loans occur so frequently. These conversions continue to demonstrate that we are a one-stop-source of capital. Our goal is to partner with all of our clients when their needs call for permanent financing,” 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) 972-6800.
Media Contact: Elizabeth Sarhaddi
Director of Marketing
Potomac Realty Capital
781.972.6811
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