Potomac Realty closes $8 million mezzanine loan for a 3 property portfolio
New Haven CT Potomac Realty Capital, LLC, a full service commercial capital provider, originated and closed an $8 million mezzanine loan for a high-end portfolio, located in Palm Beach, Florida and New Haven, Conn.
Two of the properties in the portfolio are located in Palm Beach: a luxury hotel and a class A office property. The hotel is located within the affluent Palm Beach community. Also included in the portfolio is a office property.
The final asset in the portfolio is a 100,000 s/f office property located in New Haven, Conn. The property is strategically located in the cities central business district and in close proximity to Yale University and major interstates.
Dan Palmier, president & CEO of Potomac said, "Referral business has become a major source of business for us. This first-time client was referred to us for our quick turnaround and creative solutions. We funded this portfolio in just ten days."
Providence, RI Shawmut Design and Construction celebrated the ceremonial groundbreaking for the 195 District Park Pavilion, marking the start of construction on a facility that will feature year-round dining and support space for park operations. In addition to the 3,500 s/f building, the project will include infrastructure upgrades
The New England Real Estate proud to showcase the remarkable projects that have graced the cover and center spread of NEREJ this year, all made possible by the collaboration of outstanding project teams. Now, it's time to recognize the top project of 2024, and we need your vote!
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