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Arrow Real Estate Advisors has successfully arranged a $30.3 million refinancing 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. The transaction was led by Arrow Real Estate Advisors’ team including Founder and Managing Partner Morris Betesh, Senior Vice President Omar Ferreira, and Associate Jacob Petrovic.
Completed in 2023, Prospect Place encompasses approximately 120,000 gross square feet and is located within the Mt. Prospect Tax Increment Financing (TIF) District, which remains active through 2040. The new floating-rate balance sheet loan from Walker & Dunlop Investment Partners offers the sponsor 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.
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