Arrow Real Estate Advisors arranges $13.25 million CMBS financing for multifamily community

East Brunswick, NJ Arrow Real Estate Advisors arranged $13.25 million in CMBS financing for North Lake Apartments, a 63-unit multifamily community located at 85 Main St.

The financing was arranged by Morris Betesh, founder and managing partner of Arrow Real Estate Advisors, alongside Morris Dabbah and Zach Strauss, on behalf of property owner and developer Mordy Lipkis. BMO provided the loan, which features a full-term interest-only structure.

Developed in 2021, North Lake Apartments is a townhome-style residential community situated on a 3.33-acre site comprising three, three-story buildings totaling 75,366 s/f. The property features exclusively two-bedroom residences, including 20 affordable units subject to area median income (AMI) restrictions, along with 131 parking spaces.

The transaction garnered a competitive financing process in which Arrow generated a deep pool of lender quotes of various ‘flavors’, ultimately securing favorable financing terms despite the rising interest rate environment. In conjunction with structuring the loan, Arrow made sure an easement agreement was pre-negotiated with the lender. This would ensure the sponsor’s access rights for a planned multifamily development on an adjacent parcel were preserved and would allow future development plans to advance without creating any conflict with the lender during the loan term.

“Throughout the year, we’ve seen tremendous liquidity among lenders for high-quality multifamily assets, and the growth of multifamily-only securitizations in the CMBS market has created another highly competitive financing option,” said Betesh. “We’re pleased to have secured an attractive execution that recognizes our client’s development and management efforts while providing the flexibility to pursue future opportunities.”

Lipkis has owned the underlying land since 1999, having previously secured its rezoning from industrial use to accommodate residential development. The financing supports the continued operation of North Lake Apartments while preserving flexibility for the sponsor’s broader development plans in East Brunswick. The transaction closed on October 6, 2026.