Potomac Place Shopping Center secures $50.75 million refinancing

Potomac Place Shopping Center in Potomac, Maryland, has secured $50.75 million in permanent fixed-rate financing. The transaction was arranged by Northmarq’s Washington, D.C. Debt + Equity team on behalf of the borrower, Zuckerman Gravely, through Nationwide Life Insurance Company.

The 80,040-square-foot retail center, originally constructed in 1967, features a seven-year term designed to refinance existing debt. The property is anchored by Safeway and includes a variety of national and local tenants such as Walgreens, Starbucks, Chipotle, and several banking institutions.

Located near the intersection of River Road and Falls Road, the center serves an affluent demographic and benefits from its position along a heavily traveled corridor. The financing provides stability for the asset through a fixed interest rate, mitigating risks associated with interest rate volatility.