Arrow Real Estate Advisors arranges $46 million refinance for The Marshall at Rochester

West Henrietta, NY Arrow Real Estate Advisors arranged a $46 million refinance for The Marshall at Rochester, a Class A student housing community located at 3948 East River Rd. The financing was secured on behalf of Aptitude Development, a national developer of purpose-built student housing. Webster Bank served as the lender. Arrow Real Estate’s Morris Betesh, founder and managing partner, Morris Dabbah, senior vice president, and Louis Halperin, associate, arranged the refinancing. 

“What mattered here was finding a capital partner who recognized the fundamentals: Rochester Institute of Technology’s steady growth, the strength of a truly Class A asset, and the reliability of an institutional sponsor,” said Betesh. “Webster Bank saw the underlying story and stepped in with confidence.”

Delivered in 2023, The Marshall at Rochester comprises 494 beds across 201 units and features six three-story buildings totaling 299,051 s/f. The community offers 518 parking spaces, 12,129 s/f of amenity space, and over eight acres of outdoor green space, making it one of the highest-quality student housing assets in the market.

Located near the Rochester Institute of Technology (RIT), a nationally recognized university with a strong engineering and technology student base, the property benefits from sustained enrollment growth and a supply-constrained market. Rentable housing near campus remains limited, with minimal new development expected, positioning The Marshall at Rochester as one of the premier choices for students seeking modern, amenitized living.

Arrow R.E. identified a lending partner capable of understanding Aptitude Development’s track record, the strength of the RIT market, and the asset’s best-in-class physical and operational profile. Webster Bank recognized the opportunity to finance a high-performing property delivered by an institutional sponsor in an underserved but fundamentally strong market.

Arrow R.E. is a leader in student housing finance nationwide, advising institutional developers and owners across university markets.