Needham, MA  -  Potomac Realty Capital, LLC (“Potomac”), a full service commercial capital provider, structured and closed a $9.4 million bridge loan for the acquisition of a 123-unit student apartment community located in Mount Pleasant, Michigan (the “Property”). Located 150 miles northwest of Detroit, the Property houses students from the Central Michigan University (”CMU”) campus. CMU’s student body has experienced a 12% growth over the last three years and currently totals over 28,000. The borrower, an experienced owner/operator whose portfolio includes 1,000 student housing units, will implement a $2.5 million renovation program focusing on the lifestyle improvements for students. “This is the third student housing deal we’ve funded over the past several months,” said Dan Palmier, President & CEO of Potomac. “Potomac has carved out a niche in this sector and we look forward to providing individualized financial solutions for borrowers who focus on this asset type throughout the country.”

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 $3 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
                          781.972.6800 ext.6811