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Nationwide Life provides $50.75M refinance for Potomac Place center
The seven-year, permanent fixed-rate debt will refinance the 80,000-square-foot Class-A grocery anchored retail center in Potomac, Maryland.
Zuckerman Gravely secured $50.75 million in debt to refinance Potomac Place Shopping Center, an 80,000-square-foot, Class-A grocery anchored retail property in Potomac, Maryland, Commercial Observer reported.
Nationwide Life Insurance Company provided the financing, structured as permanent fixed-rate debt with a seven-year term, and Northmarq arranged the transaction.
The center, at 10122 River Road near Route 90 and the Washington, D.C. beltway, opened in 1967 and has long-time occupants, Northmarq said in a statement.
Current tenants include Safeway, Walgreens, Starbucks, Chipotle, M&T Bank, and PNC Bank.