Needham, MA – Potomac Realty Capital, LLC (“Potomac”), a full service commercial capital provider, originated and closed a $4.7 million bridge loan for a 156-unit apartment property (the “Property”) located in South Houston, Texas. The proceeds of the loan will be used to acquire the Property, fund a lender controlled interest reserve, and cover ancillary closing costs. Built in 1962, the Property is improved with 19 two-story apartment buildings, three single-story laundry buildings, and one single-story maintenance building. The Property is located in the Houston-Sugar Land-Baytown MSA, the fifth largest MSA in the country, and is situated just 11 miles from Houston’s central business district. The borrower, whose portfolio consists of 6 multi-family properties, selected this investment for the overall quality of the asset. Over the last several years, $1.9 million ($12,200/unit) was invested into the Property resulting in high occupancy rates and a significant waiting list. The Property’s superior condition and tenant base will allow the borrower to focus on revenue growth and expense control rather than capital improvements.”We pride ourselves on providing quick and reliable capital solutions with exceptional customer service. When you do this consistently you build client loyalty,” Dan Palmier, President & CEO, of Potomac said. “This was our sixth deal with this borrower this year.”