Newmark Arranges $690 Million Refinancing for Sun Belt Multifamily Portfolio on Behalf of West Shore

Core Insights - The transaction represents the largest multifamily closing in the U.S. year-to-date, with Newmark arranging a $690 million loan for West Shore to refinance 13 multifamily properties across multiple states [1] Company Overview - Newmark Group, Inc. is a leading commercial real estate advisor and service provider, generating over $3.1 billion in revenues for the twelve months ended September 30, 2025, and operating approximately 170 offices with over 8,500 professionals globally [6] Transaction Details - The loan secured by Newmark for West Shore is a cash-out, single-asset single-borrower (SASB) refinancing, originated by Citi, marking Newmark's third SASB transaction with West Shore in 15 months, totaling $1.8 billion in loan proceeds [2][3] - The portfolio refinanced includes 4,077 units across various properties in Florida, South Carolina, Tennessee, and Texas, featuring amenities such as pools and fitness centers [4] Market Trends - Multifamily debt originations increased by 37% year-over-year in 2025, with nearly 45% of investment sales activity concentrated in Sun Belt markets [5]