A joint venture involving The Loketch Group, Joyland Group and Meral Property Group has landed a $220 million debt package to refinance two newly built adjacent Brooklyn multifamily assets, Commercial Observer has learned.

Blackstone originated the fixed-rate, five-year, interest-only loan with participation from CenterSquare for the two eight-story residential towers at 268 Lorimer Street in Williamsburg. The debt deal retires a previous $172 million loan from TPG.