Arrow Real Estate Advisors arranges $22 million bridge refinance for creative office and flex asset in Brooklyn

Brooklyn, NY Arrow Real Estate Advisors arranged a $22 million bridge refinance for 1000 Dean St., a creative office and flex property located in the city’s Crown Heights/Prospect Heights submarket.

The financing was arranged by Arrow’s founder and managing partner Morris Betesh, Israel Mermelstein, Jack McPhail, Alex Ellman, and Joseph Kean and provided by Genesis Credit LLC. The loan refinances a 129,389 s/f asset that serves a mix of creative, office, production, and flex tenants in one of the city’s most active commercial corridors.

1000 Dean St. has established itself as a unique workspace destination within the borough, attracting a broad range of tenants seeking flexible and creative environments. The sponsor’s business plan is focused on continuing to capitalize on leasing momentum at the property, increasing occupancy, and further stabilizing cash flow as the asset progresses through its next phase of growth.

The transaction required a financing partner capable of understanding the property’s transitional nature and the nuances associated with its ongoing lease-up strategy. Given the asset’s diverse tenant base and flexible office component, the financing needed to accommodate both recent leasing activity and the sponsor’s continued efforts to convert demand into long-term occupancy. Genesis Credit LLC recognized the strength of the property’s location, sponsorship, and leasing trajectory, ultimately providing a solution tailored to support the asset’s stabilization plan.

“We are pleased to have arranged this financing on behalf of the sponsor for 1000 Dean St.,” said Betesh. “This was a nuanced transaction given the transitional profile of the asset, but Genesis quickly understood the strength of the location, the quality of the collateral, and the sponsor’s business plan. We appreciate Genesis’ partnership and ability to provide a flexible solution that supports the continued stabilization of the property.”

The transaction highlights continued lender interest in well-located office and flex assets that demonstrate strong leasing fundamentals and a clear path to stabilization. While the broader office sector continues to evolve, lenders remain active on opportunities where sponsorship, location, and business plan execution create compelling risk-adjusted investment opportunities.

Arrow worked closely with both the sponsor and Genesis Credit LLC throughout the financing process to structure a bridge solution that refinanced the existing debt while providing sufficient runway to continue leasing efforts and execute the property’s business plan. The refinancing positions ownership to further enhance occupancy and cash flow as the asset moves toward long-term stabilization.