About Arnstone

Yitz Arnstein is the founder of Arnstone, a multifamily real estate investment firm focused on acquiring, repositioning, and operating high-quality assets across the U.S.

Before launching Arnstone, Yitz served as Chief Investment Officer and Director of Acquisitions at The H&A Group, where he spearheaded the firm’s investment strategy, due diligence, underwriting, financial structuring, and execution. He oversaw all capital events and closings totaling more than $350 million and $50 million in equity placements, working directly with lenders and investors to structure, negotiate, and execute complex transactions with precision. Yitz played a central role in shaping H&A’s portfolio growth through data-driven decision-making, consistently identifying and unlocking value across a range of assets. 

Yitz began his career at The H&A Group, where he initially worked in leasing and operations before quickly recognizing his passion for the financial and strategic side of the business. Self-taught in underwriting, he transitioned into deal analysis, acquisitions and capital markets, where his analytical discipline and deal intuition quickly gained him responsibility and impact.Over the following years, Yitz became the apprentice and right-hand to the firm’s principals, working closely with them daily and learning the business from the inside out. His growth within H&A was rapid, ultimately overseeing all Finance and Investment operations at the firm.

In early 2025, Yitz partnered with one of the principals and began acquiring multifamily assets of his own—taking full responsibility for operations and asset management. Under his leadership, these properties achieved strong performance and long-term value growth, adding hands-on ownership and operational experience to his comprehensive investment background.

After years of learning every facet of real estate—from underwriting and financing to acquisitions, management and ownership—Yitz launched Arnstone to bring his disciplined, strategic approach to a broader platform. The firm is built on the core principles that have defined his success: clarity, strategy, and scalability.

Karl Nichols is a mission-driven facilities and operations leader with more than 15 years of experience managing complex construction, renovation, and affordable housing portfolios across the Midwest. Known for his precision, accountability, and people-centered approach, Karl specializes in capital planning, preventive maintenance programs, safety and compliance oversight, and facility condition assessments that protect both assets and communities.

As Regional Property Manager for H&A Properties, Karl directed multimillion-dollar renovation and capital projects across a 1,000+ unit regional portfolio, ensuring on-time and on-budget delivery. His leadership standardized preventive maintenance systems that extended asset life cycles, streamlined documentation, and strengthened regulatory compliance.

Previously, Karl managed affordable housing operations where he led Section 8, Tax Credit, and DHCR programs, trained on-site teams, and developed procedures that improved efficiency and accountability. His career also includes senior leadership roles in nonprofit operations — serving as Executive Director of the St. Joseph County Minority Health Coalition and Director of Operations for Hope Ministries — where he managed multimillion-dollar budgets, oversaw multi-site facilities, and advanced community-focused capital initiatives.

As Founder and Co-CEO of Crescent Consulting, Karl continues to empower organizations through grant writing, compliance guidance, and strategic business planning. A trusted partner to executives, pastors, and civic leaders, he is recognized for his ability to bridge technical execution with mission alignment — ensuring every project reflects both excellence and integrity.

Karl holds a Master’s degree in Criminal Justice (Public Administration) from Florida Metropolitan University and a Bachelor’s degree in Political Science (Community Mobilization) from Wright State University.