(For more retail coverage, click GlobeSt.com/RETAIL and toread more on the multifamily market, click here.)
NANTUCKET, MA-A Boston-based real estate developer has receiveda $7.5-million bridge loan to finance the acquisition andredevelopment of Nantucket's landmark Dreamland Theater. Thebuilding is a historic downtown movie house that lies in the centerof the island's only town.
Dan Palmier, president and chief executive officer of PotomacRealty Capital, of Needham, MA which structured and originated thedeal, tells GlobeSt.com that the unnamed developer plans to add9,170 sf to the 12,770-sf, 1829 theater to turn it into a 400-seatmovie and live performance center. It will also contain tworestaurants, four office condominiums and four luxuryresidences.
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