Newmark Arranges $600 Million Financing for West Shore Involving Eight Multifamily Properties in the Southeast and Midwest

October 30, 2025

NEW YORK, Oct. 30, 2025 /PRNewswire/ -- Newmark Group, Inc. (Nasdaq: NMRK) ("Newmark" or "the Company"), a leading commercial real estate advisor and service provider to large institutional investors, global corporations, and other owners and occupiers, announces the Company has arranged a $600 million total loan package on behalf of West Shore, with proceeds supporting the refinancing of more than $250 million in existing debt across five stabilized properties spanning Florida, Virginia, North Carolina and Kentucky, as well as the acquisition of three multifamily assets totaling 1,496 units across South Carolina, Ohio and Florida.

Newmark Executive Vice Chairman Purvesh Gosalia and Transaction Manager Hayden Hedrick represented West Shore in the transaction, which closed within 60 days. The capital stack includes a $550 million senior mortgage and a $50 million mezzanine loan originated by Citi, making it the third-largest multifamily transaction in the U.S. in 20251.

The closing marks West Shore's second SASB transaction in the past 12 months, exemplifying the firm's continued growth among the most active multifamily owners in the Sunbelt region. Under the leadership of President Lee Rosenthal, West Shore has expanded its footprint to more than 18,500 units across nine states.

"Closing a $600 million SASB as borrower and acquiring three multifamily assets in high-growth markets marks a pivotal moment in our expansion strategy," said Rosenthal. "We're proud to strengthen our portfolio footprint while continuing to invest in communities that reflect long-term opportunity and resilience."

Citi's market-leading capital markets team, led by James Goldberg, was able to price the transaction at the tightest levels achieved of any multifamily SASB so far this year. This transaction underscores the strength of the current CMBS market and investor demand for high quality multifamily portfolios with best-in-class sponsorship.

"This financing reflects the strong demand for well-leased, institutionally managed multifamily properties, particularly in high-growth and Sunbelt-adjacent markets," said Gosalia. "The borrower was able to take advantage of a competitive debt environment to lock in a low cost of capital and generate liquidity to support further portfolio growth."

The eight-property portfolio comprises 3,241 units with a blended occupancy of 93.4% and average unit size of 1,014 square feet. Communities included in the refinancing are located in Richmond, Virginia; Clearwater, Florida; Waxhaw, North Carolina and Lexington, Kentucky. The newly purchased properties are located in Columbus, Ohio; North Augusta, South Carolina and Palm Beach Gardens, Florida.

According to Newmark Research, U.S. multifamily investment volume reached $41 billion in the second quarter of 2025 – a 15% quarter-over-quarter increase – driven by easing interest rate volatility and a rebound in institutional capital flows. Lending conditions have improved as investors seek stable, income-generating opportunities in high-growth regions. The Sun Belt and Southeast continue to lead the nation in rent growth and absorption, fueling portfolio-level transactions.

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 $3.1 billion. As of September 30, 2025, Newmark and its business partners together operated from approximately 170 offices with over 8,500 professionals across four continents. To learn more, visit nmrk.com or follow @newmark.

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.