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.
