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Northmarq arranges $50.75M fixed-rate refinancing for Potomac Place
The seven-year permanent fixed-rate loan will refinance existing debt for the 80,040-square-foot Safeway-anchored center in Potomac, Maryland.
ConnectCRE reports that Northmarq arranged $50.75 million in permanent fixed-rate financing for the Potomac Place Shopping Center through its relationship with Nationwide Life Insurance Company.
The property is an 80,040-square-foot, grocery-anchored retail center at 10100 River Road in Potomac, Maryland, originally constructed in 1967 and anchored by Safeway.
According to ConnectCRE, the refinancing is structured on a seven-year term and was set up on behalf of the borrower, Zuckerman Gravely, to refinance existing debt.
Tenants at Potomac Place include Walgreens, Starbucks, Chipotle, Vie de France Bakery & Café, Strosnider’s Hardware, M&T Bank, PNC Bank, Maurizio’s, Duke’s Grocery, and The Market at River Falls.