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New York & Tri-State  + Downtown New York  + Finance  | 

Arrow Lines Up Acquisition Loan for Tribeca Mixed-Use

Arrow Real Estate Advisors, a leading real estate finance advisory firm, arranged an $8,051,000 non-recourse acquisition loan on behalf of TARGO Capital Partners for the purchase and renovation of 111 Reade St., a mixed-use property located in Tribeca. Arrow founder and managing partner Morris Betesh, director Brandon Serota and SVP Morris Dabbah completed the financing.

The financing, provided by Emerald Creek Capital, supported TARGO’s $9.7-million acquisition of the asset and was structured as a 70% loan-to-cost, short-term bridge loan with favorable pricing terms. The transaction reflects the ongoing strength of the boutique rental markets in downtown Manhattan, and the confidence capital providers have in experienced sponsors, according to Arrow.

The property features four full-floor loft-style rental units above ground-floor retail, offering significant value-add potential. TARGO plans to renovate all four residential units, replicating a business plan they recently and successfully executed on a similar property in the immediate area.

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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).

  • ◦Sale/Acquisition
  • ◦Financing