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Chicago & Midwest  + Greater Chicagoland  + Apartments  |  July 16, 2025
Jasmine Kilman
By: Jasmine Kilman

Arrow Real Estate Secures $30M Refi for Suburban Chicago MF

Arrow Real Estate Advisors has arranged a $30.3 million refinance for The Prospect Place Apartments, an 80-unit multifamily property located at 11 W Prospect Avenue in Mt. Prospect, Illinois.

The new financing was provided by Walker & Dunlop Investment Partners. Arrow Real Estate Advisors’ Morris Betesh, Founder and Managing Partner, Omar Ferreira, Senior Vice President, and Jacob Petrovic, Associate arranged the financing.

Completed in 2023, Prospect Place totals approximately 120,000 gross square feet and is situated within the Mt. Prospect TIF District, which remains active through 2040. The newly secured floating-rate balance sheet loan from WDIP provides the sponsor with enhanced prepayment flexibility, a competitive interest rate, and an extended loan term.

“This refinancing speaks to our team’s ability to structure around complexity—whether it’s navigating a layered TIF or highlighting a Sponsor’s operational track record—to deliver long-term value,” said Morris Betesh, Founder and Managing Partner of Arrow Real Estate Advisors.

Read More News Stories About: Walker & Dunlop
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About Jasmine Kilman

Jasmine Kilman is Content Director of Connect Commercial Real Estate, covering Chicago and greater Chicagoland, the Midwest, Seattle, and the Pacific Northwest. She covers industry trends, transaction deals, market research, and produces daily news stories. With experience in marketing and communications for academic nonprofits and corporate clients, including Hearst Media, Hilton, and Coldwell Banker, Kilman has written about commercial real estate, environmental, social, and corporate governance (ESG), technology, healthcare, and philanthropy. She was born and raised in California and graduated with a degree in public relations. In her spare time, Kilman enjoys hiking and traveling to new locations with her family.
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