Updated Nov 18, 2025
The Loketch Group Joyland Group Meral Property Group Secures $220 Million Refinance Loan From Blackstone Centersquare
268 Lorimer Street
$220,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Nov 6, 2025
About this deal
AI
The transaction involves a multifamily asset located at 268 Lorimer Street in the Williamsburg market, with a loan amount of $220,000,000 associated with a refinance agreement.
Summary of transation details:
- Property Type: Multifamily
- Transaction Amount: $220,000,000
- Lender: Blackstone & Centersquare
- Landlord: The Loketch Group, Joyland Group & Meral Property Group
- Landlord's Representatives: Morris Betesh, Alex Bailkin & Andrew Rosenberg - Arrow Real Estate Advisors
- Loan Type: Refinance
- Date: 11/7/2025
This deal features prominent individuals such as Moishe Loketch, Joel Wertzberger, Pinny Loketch, Stephen A. Schwarzman, and E. Todd Briddell, all of whom are connected to the transaction but do not represent the landlord.
On the Map
$220,000,000
MultiFamily
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Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.07%
Cash-on-Cash
-0.02%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93