Newmark Arranges $690 Million Refinancing for Sun Belt Multifamily Portfolio on Behalf of West Shore
Newmark (Nasdaq: NMRK) arranged a $690 million cash-out, single-asset single-borrower (SASB) refinancing for West Shore covering 13 multifamily properties across Florida, Kentucky, South Carolina, Tennessee and Texas.
Rhea-AI Summary
Newmark (Nasdaq: NMRK) arranged a $690 million cash-out, single-asset single-borrower (SASB) refinancing for West Shore covering 13 multifamily properties across Florida, Kentucky, South Carolina, Tennessee and Texas.
The portfolio totals 4,077 units and the loan was originated by Citi. This is Newmark's third SASB with West Shore, bringing their SASB volume to $1.8 billion in the past 15 months and was described as the largest U.S. multifamily closing year-to-date. Newmark Research cited a 37% YoY increase in multifamily debt originations in 2025.
Positive
- $690M SASB refinancing arranged for West Shore
- Largest U.S. multifamily closing year-to-date
- Third SASB with West Shore totaling $1.8B in 15 months
- Portfolio of 4,077 units across Sun Belt markets
Negative
- None.
Details
News Market Reaction – NMRK
In the Jan 30 session, NMRK gained 0.68%, reflecting a mild positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
- Refinancing loan size
- $690 million
- Loan arranged for 13 Sun Belt multifamily properties
- Properties refinanced
- 13 properties
- Multifamily assets across FL, KY, SC, TN and TX
- SASB transactions total
- $1.8 billion
- Total loan proceeds over past 15 months with West Shore
- Prior multifamily financing
- $600 million
- Financing of eight multifamily properties in October
- Portfolio unit count
- 4,077 units
- Units across garden-style and townhome communities
- Debt originations growth
- 37%
- Year-over-year increase in multifamily debt originations in 2025
- Sun Belt investment share
- 45%
- Share of 2025 investment sales activity in Sun Belt markets
- Transaction timeframe
- 15 months
- Period covering three SASB deals totaling $1.8B
Historical Context
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Advised on high-value sale of Manhattan luxury multifamily stake at premium pricing.
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Arranged major 1.4M sq. ft. industrial lease for beverage manufacturer in Philadelphia.
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Arranged $203M sale of diversified Mid-Atlantic micro-bay industrial portfolio.
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Advised Scholastic on $386M NYC headquarters sale-leaseback transaction.
24h Move is the share-price change in the day after each event; other market factors may also have contributed.
Key Terms
single-asset single-borrower (sasb) financial
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The transaction represents the largest multifamily closing in the
Newmark Capital Markets Executive Vice Chairman Purvesh Gosalia represented the borrower, West Shore, in securing the cash-out, single-asset single-borrower (SASB) refinancing, which was originated by Citi.
The closing marks Newmark's third SASB transaction with West Shore, totaling
"This transaction highlights the strong investor appetite for well-located, institutional-quality multifamily assets across the Southeast and Sun Belt," said Gosalia. "West Shore's portfolio attracted highly competitive financing, reflecting the continued appeal of these markets to institutional capital."
The portfolio comprises 4,077 units across a mix of garden-style and townhome communities, offering one- to three-bedroom floorplans and coveted amenities such as pools, fitness centers, pet parks, clubhouses and outdoor spaces. Assets are located across five
According to Newmark Research, multifamily debt originations increased
About Newmark
Newmark Group, Inc. (Nasdaq: NMRK), together with its subsidiaries ("Newmark"), is a world leader in commercial real estate, seamlessly powering every phase of the property life cycle. Newmark's comprehensive suite of services and products is uniquely tailored to each client, from owners to occupiers, investors to founders, and startups to blue-chip companies. Combining the platform's global reach with market intelligence in both established and emerging property markets, Newmark provides superior service to clients across the industry spectrum. For the twelve months ended September 30, 2025, Newmark generated revenues of over
Discussion of Forward-Looking Statements about Newmark
Statements in this document regarding Newmark that are not historical facts are "forward-looking statements" that involve risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements. These include statements about the Company's business, results, financial position, liquidity, and outlook, which may constitute forward-looking statements and are subject to the risk that the actual impact may differ, possibly materially, from what is currently expected. Except as required by law, Newmark undertakes no obligation to update any forward-looking statements. For a discussion of additional risks and uncertainties, which could cause actual results to differ from those contained in the forward-looking statements, see Newmark's Securities and Exchange Commission filings, including, but not limited to, the risk factors and Special Note on Forward-Looking Information set forth in these filings and any updates to such risk factors and Special Note on Forward-Looking Information contained in subsequent reports on Form 10-K, Form 10-Q or Form 8-K.
1 According to Newmark Research, Real Capital Analytics
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SOURCE Newmark Group, Inc.
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