Needham, MA - Potomac Realty Capital, LLC (“Potomac”), a full-service provider of bridge, mezzanine and permanent commercial real estate loans, structured and closed a $2.6 million mezzanine loan for an Arizona developer. This repeat Borrower will use the proceeds as part of the purchase of 1,333 acres of land in Tubac, Arizona, 45 minutes south of Tucson. The land is the highest elevation parcel overlooking the town of Tubac and is surrounded by Tubac Creek, The Santa Rita Mountains and The Coronado National Forest. The Borrower plans to develop 249 single-family homes with average lot sizes of 5 acres.
Fortune Small Business ranked Tubac among the top 10 places for business owners to retire in the US indicating a sound investment for the Borrower. Dan Palmier, President & CEO of Potomac said, “Meeting the individual needs of our clients is something that we excel at. Not only did we assist this repeat client in meeting their objective of closing on this premier parcel of land, we worked diligently to close the loan just 5 days from application making this another successful execution.”
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 client’s 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
781.972.6800 ext.6811
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