Newmark Secures $690 Million Refinancing Deal for West Shore's Multifamily Assets

In a significant transaction for the commercial real estate sector, Newmark Group, Inc. announced the successful arrangement of a $690 million refinancing deal for West Shore, targeting 13 multifamily properties located across several Southern states. This financing initiative is not just a monetary milestone but marks the largest multifamily closing in the United States for the year to date.

Represented by Newmark's Capital Markets Executive Vice Chairman Purvesh Gosalia, this refinancing encompasses properties in Florida, Kentucky, South Carolina, Tennessee, and Texas. The arrangement was facilitated through a single-asset single-borrower (SASB) loan, which was originated by Citi, further emphasizing the strong investor interest in well-located, institutional-quality multifamily assets, particularly within the rapidly growing Southeast and Sun Belt markets.

Portfolio Overview

The portfolio in question comprises a total of 4,077 dwelling units, featuring a pleasing variety of one- to three-bedroom configurations. These units are part of garden-style and townhome communities, many of which offer sought-after amenities such as swimming pools, fitness centers, pet parks, clubhouses, and outdoor recreational spaces. The properties are situated in several prominent cities across the aforementioned states, including Daytona Beach, Gainesville, Melbourne, Ocala, and Tallahassee in Florida, alongside sites in Columbia and Lexington, South Carolina, as well as Knoxville, Tennessee, and Bryan, Texas.

This closing signifies Newmark's third SASB transaction with West Shore over the past 15 months, amounting to a cumulative total of $1.8 billion in loan proceeds. Notably, this includes a previous $600 million financing deal arranged by Newmark back in October, clearly illustrating West Shore’s escalating influence among leading multifamily property owners in the Sun Belt region.

Market Trends and Investor Network

According to research conducted by Newmark, there was a remarkable 37% increase in multifamily debt originations year-over-year in 2025, underscoring a robust trend in investor capital seeking opportunities within Sun Belt markets. As these regions accounted for nearly 45% of total investment sales activity in 2025, the interest in multifamily assets continues to grow among institutional investors.

Gosalia noted, "This transaction highlights the strong investor appetite for well-located, institutional-quality multifamily assets across the Southeast and Sun Belt. West Shore's portfolio attracted highly competitive financing, reflecting the continued appeal of these markets to institutional capital." Such statements verify the growing attractiveness of multifamily investments in these dynamic regions, driven by demographic shifts and the increased demand for rental housing.

About Newmark Group

Newmark Group, Inc., publicly traded on NASDAQ as NMRK, is a preeminent name in commercial real estate, delivering comprehensive services tailored to meet the needs of investors, property owners, corporate clients, and occupiers around the world. Their firm commitment to excellence is demonstrated in their capacity to provide insightful market analysis alongside innovative solutions throughout the property lifecycle. With revenues exceeding $3.1 billion for the twelve months concluding on September 30, 2025, and a global presence across around 170 offices with over 8,500 professionals, Newmark continues to play a pivotal role in defining the future landscape of commercial real estate.

For comprehensive insights and expert perspectives on the dynamic world of commercial real estate, visit Newmark’s website at nmrk.com or follow them on social media at @newmark.

Conclusion

The $690 million refinancing of West Shore's multifamily assets by Newmark not only serves as a testament to the strategic investments within Southern property markets but also reinforces the firm’s proactive approach toward aligning investor portfolios with high-demand multifamily growth areas. As the multifamily sector continues to thrive, the focus on well-located assets is expected to remain a cornerstone of investment strategies moving forward.