Newmark Arranges $690M Multifamily Refinancing for West Shore's Sun Belt Portfolio

Newmark Group, Inc. has arranged a $690 million loan for West Shore to refinance 13 multifamily properties across Florida, Kentucky, South Carolina, Tennessee and Texas, the firm announced Jan. 30. The transaction represents the largest multifamily closing in the U.S. year-to-date in 2026.

Newmark Capital Markets Executive Vice Chairman Purvesh Gosalia represented the borrower in securing the cash-out, single-asset single-borrower (SASB) refinancing, which was originated by Citi.

Third Transaction with West Shore

The closing marks Newmark's third SASB transaction with West Shore, totaling $1.8 billion of loan proceeds in the past 15 months. The firm previously arranged a $600 million financing of eight multifamily properties in October, underscoring West Shore's continued presence among the most active multifamily owners in the Sun Belt region.

"This transaction highlights the strong investor appetite for well-located, institutional-quality multifamily assets across the Southeast and Sun Belt," Gosalia said. "West Shore's portfolio attracted highly competitive financing, reflecting the continued appeal of these markets to institutional capital."

Portfolio Spans 4,077 Units Across Five States

The portfolio comprises 4,077 units across a mix of garden-style and townhome communities, offering one- to three-bedroom floorplans and amenities such as pools, fitness centers, pet parks, clubhouses and outdoor spaces. Assets are located across five Florida cities—Daytona Beach, Gainesville, Melbourne, Ocala and Tallahassee—as well as Columbia and Lexington, South Carolina; Knoxville, Tennessee; and Bryan, Texas.

Multifamily Debt Market Activity

According to Newmark Research, multifamily debt originations increased 37% year-over-year in 2025.