Loketch, Joyland secure $220M refi of Williamsburg rentals
A year after completion, a group of developers locked down a refinancing for their 305-unit multifamily property in Williamsburg. The Loketch Group, Joyland Group and Meral Property Group scored a $220 million debt package to refinance a pair of residential buildings at 268 Lorimer Street, the Commercial Observer reported. The debt retires a $172 million loan from TPG. Blackstone provided the fixed-rate, five-year, interest-only loan on the two eight-story buildings. CenterSquare also participated in the financing, which was arranged by Arrow Real Estate Advisors’ Morris Betesh, Alex Bailkin and Andrew Rosenberg. The development at the corner of Lorimer Street and […]
This article originally appeared on The Real Deal. Click here to read the full story.
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