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**Arrow Real Estate Advisors Secures $20M Refi for Clinton Hill Mixed-Use Project**
Arrow Real Estate Advisors has successfully arranged a $20 million bridge loan for the refinancing of a newly constructed mixed-use property located at 1 Putnam Avenue in the Clinton Hill neighborhood of Brooklyn, New York. The financing was secured on behalf of The Abeco Organization and provided by CounterPointe Sustainable Real Estate (SRE), a portfolio company of MassMutual.
The transaction was led by Morris Betesh, founder and managing partner of Arrow Real Estate Advisors, along with Senior Vice President Morris Dabbah.
“It was a pleasure working with The Abeco Organization on this refinancing, and we are all thrilled with the execution,” said Betesh. “The passion and attention to detail that Abeco puts into their projects are evident from the moment you walk through the front door, and it’s no surprise they’ve seen such a strong market response since launching leasing.”
1 Putnam Avenue has been redeveloped into an eight-story, 54,323-square-foot mixed-use building. The property includes 28 free-market and 13 rent-stabilized residential units, along with 12,425 square feet of retail space. Leasing efforts have seen swift progress, with approximately 60% of the free-market units leased within the first 30 days of launch.
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