| 06/29/2007 |
| Potomac Closes $2.4 Million Permanent Loan for Massachusetts Multi-Family |
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Needham, MA - Potomac Realty Capital, LLC (“Potomac”), a full service commercial capital provider, originated and closed a $2.4 Million permanent loan for a 22 unit multi-family property, located in Randolph, MA. The proceeds of the loan will be used to refinance the existing first mortgage financing. The loan was originated by Potomac’s Andrew Gates who said, “It was Potomac’s first multi-family deal in southeastern Massachusetts and we structured a competitive solution using Fannie Mae’s 3Max Program. Potomac will also have the opportunity to provide this first-time client with permanent financing for additional assets for their portfolio” added Gates.
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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