Needham, MA - Potomac Realty Capital, LLC (“Potomac”), a full-service provider of bridge, mezzanine and permanent commercial real estate loans, structured and closed a $2.9 million preferred equity position for the acquisition of 6,331 square feet of land in Cambridge, Massachusetts. The land is located in the Harvard Square district which contains high-end shopping, restaurants, nightlife and, of course, world-class academics. The borrower plans to raze the existing structures on the land and construct a 32-room boutique hotel. Dan Palmier, President & CEO of Potomac said, “This Harvard Square area deal is an excellent opportunity for our partner. This first time client was referred to Potomac for our local market knowledge, quick funding and construction loan expertise as well.”
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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