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New York & Tri-State  + Outer  + Apartments  | 

Adjacent Williamsburg Apartment Properties Land $220M Refi

Arrow Real Estate Advisors arranged a $220,000,000 permanent refinance 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 permanent financing was arranged by Arrow Real Estate Advisors founder and managing partner Morris Betesh, SVP Alex Bailkin and analyst Andrew Rosenberg. The capital structure included a fixed-rate senior loan originated by Blackstone, with participation from CenterSquare, and retired the prior $172,000,000 loan from 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.”

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About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

  • ◦Financing