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Issue Date: 11/14/2007, Posted On: 11/23/2007


Potomac Closes $5.1 Million Loan for Days Inn Hotel in California

NEEDHAM, Mass. - Potomac Realty Capital, LLC (“Potomac”), a full service commercial capital provider, originated and closed a $5.1 million bridge loan for the acquisition and renovation of a recently converted Days Inn hotel (“the Hotel”), located in Arcata, California.

 

The Borrower selected the Hotel for its full amenity package and desirable location in a strong hospitality market.  The Hotel will benefit from Days Inn’s strong name recognition as well as their reservation system and rewards program designed by parent company, Wyndham Worldwide. Arcata is located in northwest California along the area’s primary travel corridor, Route 101, and is home to Humboldt University, a significant demand generator. The Borrower, a seasoned West Coast hospitality operator, specializes in re-positioning assets in this sector.

 

Dan Palmier, President & CEO of Potomac said, “Having a quick and reliable source of capital able to close the deal is critical to all Borrowers. This is our third transaction with this Borrower and our speed and attention to customer service has transformed them into a loyal repeat client. We have five more deals to close for them in 2007.”




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