**West Shore Secures $600M in One of 2025’s Largest Multifamily Deals**
West Shore has closed a $600 million loan package arranged by Newmark, marking the third-largest U.S. multifamily transaction of 2025. The financing supports the refinancing of over $250 million in existing debt across five stabilized properties located in Florida, Virginia, North Carolina, and Kentucky. Additionally, the proceeds will fund the acquisition of three multifamily assets comprising a total of 1,496 units in South Carolina, Ohio, and Florida.
The Newmark team, led by Executive Vice Chairman Purvesh Gosalia and Transaction Manager Hayden Hedrick, represented West Shore in the transaction, which successfully closed within 60 days. The capital stack includes a $550 million senior mortgage and a $50 million mezzanine loan, both originated by Citi.
This deal marks West Shore’s second Single Asset, Single Borrower (SASB) transaction in the past year. Under the leadership of President Lee Rosenthal, Boston-based West Shore has grown its multifamily portfolio 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.
