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Dreamland Theater Gets $7M-Plus for Makeover

NANTUCKET, MA-The co-owner of Nantucket's Dreamland Theater receives a $7.5-million bridge loan to finance its acquisition and redevelopment.

By Beverly Ford | Updated on August 30, 2006

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NANTUCKET, MA-A Boston-based real estate developer has received a $7.5-million bridge loan to finance the acquisition and redevelopment of Nantucket’s landmark Dreamland Theater. The building is a historic downtown movie house that lies in the center of the island’s only town.

Dan Palmier, president and chief executive officer of Potomac Realty Capital, of Needham, MA which structured and originated the deal, tells GlobeSt.com that the unnamed developer plans to add 9,170 sf to the 12,770-sf, 1829 theater to turn it into a 400-seat movie and live performance center. It will also contain two restaurants, four office condominiums and four luxury residences.

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