Needham, MA - Potomac Realty Capital, LLC (“Potomac”), a full service commercial capital provider, structured and closed a $7.7 million first mortgage loan for a 241-unit student housing portfolio consisting of two properties located in Illinois and one located in Pennsylvania (the “Properties”). Loan proceeds will be used to acquire the Properties and undertake a $3.8 million renovation program. Upon completion of the renovations, the borrower intends to increase asking rents by an average of 30% across the portfolio. The borrower has extensive experience in the student housing market with 2,000 units currently under ownership and/or management. “Potomac closed two loans for this client in early 2008 for similar properties. It is no surprise that they called on us to fund this portfolio,” said Dan Palmier, President & CEO of Potomac. “Our continued ability to deliver competitive programs in this turbulent market has led to a significant increase in repeat business.”