Newmark Arranges $690 Million Refinancing for Sun Belt Multifamily Portfolio on Behalf of West Shore
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.
Key Figures
Market Reality Check
Peers on Argus
NMRK is up 2.07% while key peers CWK (0%), COMP (-0.23%), CIGI (-0.12%), FSV (-1.2%) and OPEN (-3.13%) are flat-to-down, indicating a stock-specific move.
Historical Context
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Jan 21 | Earnings date notice | Neutral | -1.0% | Announced timing and format for Q4 and full-year 2025 results release. |
| Jan 20 | Multifamily asset sale | Positive | -2.3% | Advised on high-value sale of Manhattan luxury multifamily stake at premium pricing. |
| Jan 12 | Large industrial lease | Positive | +0.9% | Arranged major 1.4M sq. ft. industrial lease for beverage manufacturer in Philadelphia. |
| Jan 06 | Industrial portfolio sale | Positive | +0.3% | Arranged $203M sale of diversified Mid-Atlantic micro-bay industrial portfolio. |
| Dec 19 | Sale-leaseback advisory | Positive | -1.2% | Advised Scholastic on $386M NYC headquarters sale-leaseback transaction. |
Recent positive transaction and mandate wins have seen mixed to negative next-day price reactions, suggesting limited short-term price follow-through on deal announcements.
Over the past months, Newmark has reported several sizeable advisory and capital markets mandates, including a $203 million industrial portfolio sale, a large 1.4 million-square-foot industrial lease, and a $386 million headquarters sale-leaseback advisory. Despite these operational wins, price reactions have been modest, with several news items followed by small declines. Today’s large Sun Belt multifamily refinancing fits the pattern of Newmark highlighting its role in high-value, high-visibility transactions across multiple property types and geographies.
Market Pulse Summary
This announcement highlights Newmark’s role in arranging a $690 million refinancing for a 4,077‑unit Sun Belt multifamily portfolio, adding to $1.8 billion in SASB loan proceeds with the same client over 15 months. It underscores exposure to markets where multifamily debt originations rose 37% in 2025, with the Sun Belt capturing nearly 45% of investment sales. In context with recent industrial and sale‑leaseback mandates, observers may track how this growing transaction pipeline flows through to upcoming earnings and capital allocation decisions.
AI-generated analysis. Not financial advice.
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.
FAQ
What did Newmark announce about the $690 million refinancing for West Shore (NMRK)?
Why is the West Shore refinancing significant for Newmark shareholders (NMRK)?
Which markets and property types are included in the West Shore portfolio refinanced by Newmark (NMRK)?
Who originated the $690 million loan arranged by Newmark for West Shore (NMRK)?
How does this transaction reflect broader multifamily financing trends cited by Newmark (NMRK)?
