**Adjacent Williamsburg Apartment Properties Secure $220M Refinance**
Arrow Real Estate Advisors has arranged a $220 million permanent refinancing package on behalf of The Loketch Group, Joyland Group, and Meral Property Group for two newly developed, adjacent multifamily properties—Lorimer House and Copper Lofts—located at the corner of Lorimer Street and Broadway in Williamsburg, Brooklyn.
The refinancing transaction was led by Arrow Real Estate Advisors founder and managing partner Morris Betesh, senior vice president Alex Bailkin, and analyst Andrew Rosenberg. The deal included a fixed-rate senior loan originated by Blackstone, with additional participation from CenterSquare, effectively replacing a previous $172 million loan provided by TPG.
“These newly delivered Class A buildings underscore the sustained demand for luxury living in the heart of Williamsburg, and this permanent financing reflects that strength,” said Betesh. “Arrow created a highly competitive bidding environment across all execution types, and we are proud to have secured exceptionally efficient terms for our clients.”
