Newmark 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, along with the acquisition of three multifamily assets totaling 1,496 units across South Carolina, Ohio and Florida.
Executive vice chairman Purvesh Gosalia and transaction manager Hayden Hedrick represented West Shore. The transaction 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 U.S. multifamily transaction in 2025, according to Newmark.
The closing marks West Shore’s second SASB transaction in the past 12 months. Led by president Lee Rosenthal, Boston-based West Shore has expanded its footprint to more than 18,500 units across nine states.
“This financing reflects the strong demand for well-leased, institutionally managed multifamily properties, particularly in high-growth and Sunbelt-adjacent markets,” said Gosalia.
Pictured: West Shore’s River Lofts at Tobacco Row, Richmond, VA.
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