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Arrow Real Estate Arranges Refi on New Britain Multifamily
Arrow Real Estate Advisors closed on a $20,580,000 Fannie Mae refinance for Springwood Gardens, a 176-unit multifamily property located at 192 Allen St., New Britain, CT. The loan was arranged by founder and managing partner Morris Betesh, associate Jacob Petrovic and analyst William Farrell. Financing was provided through Fannie Mae, with PGIM Real Estate serving as the delegated underwriting and servicing lender.
The 140,000-square-foot property benefits from a strong location within the Hartford Capital Planning Area and has maintained consistent occupancy and stable cash flow. The refi is a recapitalization of an existing Fannie Mae agency loan, allowing the borrower to take advantage of improved market conditions and secure 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 closely with the borrower to position Springwood Gardens for a quick rate lock once conditions became favorable.”
- ◦Financing
