Needham, MA - Potomac Realty Capital, LLC (“Potomac”), a full-service provider of bridge, mezzanine and permanent commercial real estate loans, closed a $2.8 million mezzanine loan to fund renovations for a 218-unit multi-family development, located in Tucson, AZ. Potomac provided a $31.5 million acquisition bridge loan for the acquisition, construction and conversion of the property in early 2006. The borrower requested the additional funds to upgrade unfinished units with high-end finishes including; granite countertops, stainless steel appliances, surround sound wiring and plasma televisions. Dan Palmier, President & CEO of Potomac said, “Potomac was pleased to have partnered with this client for a third time. We were able to close the loan just 10 days from application allowing this Borrower to immediately begin the renovation process in order to gain competitive advantage.”

Potomac finances real estate transactions designed for visionary entrepreneurs 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. Their mission is to offer innovative financing solutions nationwide for a broad range of real estate types, including those that require more flexible underwriting.  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