Weingart of Potomac completes $38.2m loan for 942-unit portfolio

Potomac Realty Capital, LLC structured and funded a $38.2 million loan for a 942-unit multifamily portfolio. The loan was structured as a $33.5 million first mortgage note and a $4.7 million mezzanine loan. The properties in the portfolio were built in 1985 and total 765,548 s/f. The borrower is a special purpose entity composed of a full service real estate firm and a joint venture between six individual investors. The loan was originated by Potomac's Jeffrey Weingart, VP, capital markets.