POTOMAC ARRANGES $7.3 MILLION MULTIFAMILY LOAN

by admin

BELTON, TEXAS — Needham, Mass-based Potomac Realty Capital has arranged $7.3 million in permanent financing for a 202-unit apartment community located in Belton. The loan carries an interest rate of 6.41 percent and was provided by Fannie Mae. Proceeds were used to retire an existing bridge loan — also secured by Potomac — that was taken out 12 months ago by the Dallas-based owner to complete a capital improvements program to the property.

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