West Shore Secures $533 Million Refinance Loan From Citigroup For Multifamily Portfolio

The transaction involved a refinance loan for a multifamily portfolio encompassing 2,806 units. The properties are located across Lady Lake & Gainesville, FL; Fort Worth, TX; Pooler, GA; Lexington, KY; Lebanon, TN; and Charleston, Columbia & Summerville, SC. The loan was arranged for West Shore, a Boston-based landlord, to enhance financial positioning within these markets.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $533,000,000
• Lender: Citigroup
• Landlord: West Shore
• Broker: Purvesh Gosalia - Newmark
• Units: 2,806
• Loan Type: Refinance
• Market Areas: Lady Lake & Gainesville, FL; Fort Worth, TX; Pooler, GA; Lexington, KY; Lebanon, TN; Charleston, Columbia & Summerville, SC

Newmark played a key role by arranging the sizable loan, highlighting the interest in Sun Belt markets driven by population growth and an increased demand for rental properties. The loan encompasses nine Class A, garden-style communities, demonstrating the strategic expansion of West Shore in these thriving locations.