| 06/28/2007 |
| Potomac Closes $19.4 Million Permanent Loan for Orlando Multi-family |
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Needham, MA – Potomac Realty Capital, LLC (“Potomac”), a full service commercial capital provider, arranged $19.4 Million in financing for the acquisition and renovation of a 335-unit multi-family property located in Orlando, FL. The loan was structured as a 10 year $14.7 Million first mortgage loan with FNMA and a $4.7 Million mezzanine loan. The loan contained a five year interest only feature. Dan Palmier, President & CEO of Potomac said, “It was done for a repeat borrower in less than 30-days.”
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
VP, Marketing
Potomac Realty Capital
781.972.6811
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