Potomac Realty Capital structures and closes an $8.4 million bridge loan

Potomac Realty Capital, LLC, a full service commercial capital provider, structured and closed an $8.4 million bridge loan for the acquisition of a 121-unit apartment complex. The property is located 85 miles southeast of St. Louis and a short walk from Southern Illinois University (SIU). The close proximity to SIU positions the property as an in demand alternative to the limited on-campus student housing. The borrower is an experienced local developer whose portfolio includes 462 units at six properties near the SIU campus. The borrower expects to gain operational efficiencies as they integrate the property into their local portfolio. The property underwent an expansive capital improvements program in 2006 including renovations to 95 of the 121 units. Renovations included fully furnishing each of these units with a 42' Plasma TV, couch, coffee table, love seat, computer desks, beds, and lamps. A portion of the immediate needs escrow will be used to renovate the remaining 26 units and complete the repositioning process.

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Meridian Capital Group arranges 10-year retail lease for Mess at 236 West 10th St.

Manhattan, NY According to Meridian Capital Group, Jordan Langer, Noam Aziz and Carson Shahrabani of the firm’s retail leasing team have arranged a five-year lease at 236 West 10^thSt. in Greenwich Village

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GFP R.E. signs Knit Illustrated to 4,051 s/f at 247 West 37th St.

The Feil Organization signs 15-year, 46,000 s/f renewal with Thompson Coburn LLP at 488 Madison Ave.

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Cushman & Wakefield arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma, LLP

C&W arranges 16,051 s/f lease at 125 Broad St. to Harris Trzaskoma

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Cammeby’s signs 2,000 s/f lease with Maisonette at 32 Bdwy.

Columns and Thought Leadership

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