Arrow Real Estate Advisors arranges $22.85 million CMBS loan for Yorketowne Pointe Townhomes

York, PA Arrow Real Estate Advisors arranged a $22.85 million perm loan for Yorketowne Pointe Townhomes, a 144-unit multifamily community located at 1700 Yorktowne Dr.

The financing was arranged by Arrow’s Morris Betesh, Louis Halperin and Jacob Schmuckler on behalf of Goldcrest Properties. Deutsche Bank provided the permanent financing, which supports the continued ownership and long-term stabilization of the property.

Yorketowne Pointe Townhomes is a 14.08-acre multifamily community consisting of 18 two-story residential buildings totaling 131,328 rentable s/f. The property features 144 residential units and offers residents a townhome-style living experience within the York market, a growing suburban area supported by regional employment centers, accessibility and demand for quality rental housing.

Goldcrest Properties acquired the asset in March 2022 for $26.5 million as a value-add investment opportunity. At the time of acquisition, the property presented an opportunity to enhance operations and capture additional value through strategic improvements and rental growth, as in-place rents were below market levels. Since acquisition, the sponsorship has successfully executed its business plan, improving the asset’s performance and bringing the property to stabilization.

The successful completion of the financing reflects the strength of the asset’s stabilized operations and Goldcrest Properties’ successful repositioning strategy. The debt execution provides the sponsor with attractive long-term financing while recognizing the improvements made to the property and its continued potential within the York multifamily market.

“Yorketowne Pointe Townhomes is a strong example of a sponsor identifying an opportunity, executing a thoughtful value-add strategy and creating meaningful value,” said Schmuckler. “We were pleased to work with Goldcrest Properties and Deutsche Bank to secure a financing solution that aligns with the property’s stabilized performance and the sponsor’s long-term ownership strategy.”

The $22.85 million loan represents Arrow’s continued expertise in arranging customized financing solutions for multifamily owners and operators nationwide. Through its extensive lender relationships and deep understanding of capital markets, Arrow continues to provide clients with tailored debt strategies across acquisitions, refinancings, construction financing and recapitalizations.