**Arrow Real Estate Advisors Secures $20.6M Refinance for New Britain Multifamily Property**
Arrow Real Estate Advisors has successfully arranged a $20.58 million Fannie Mae refinance for Springwood Gardens, a 176-unit multifamily community located at 192 Allen Street in New Britain, Connecticut.
The loan was structured by Morris Betesh, founder and managing partner at Arrow Real Estate Advisors, along with associate Jacob Petrovic and analyst William Farrell. Financing was facilitated through Fannie Mae, with PGIM Real Estate acting as the delegated underwriting and servicing lender.
The 140,000-square-foot property is situated in a prime location within the Hartford Capital Planning Area. Its strong market positioning has supported consistent occupancy and stable cash flow. The refinancing transaction recapitalizes an existing Fannie Mae loan, enabling the borrower to capitalize on favorable market conditions and lock in long-term, fixed-rate financing.
“In today’s volatile rate environment, timing and execution are everything,” said Betesh. “Our team closely monitored the market and worked hand-in-hand with the borrower to position Springwood Gardens for a quick rate lock once conditions became favorable.”
