Citi Provides $600 Million Loan For West Shore Multifamily Portfolio In Southeastern States
$600,000,000
Building Size
—
Asset Type
MultiFamily
Closing
Oct 30, 2025
AI
The transaction involved a multifamily portfolio consisting of 3,241 units located across several markets, including Florida, Virginia, North Carolina, Kentucky, South Carolina, and Ohio. The loan package was valued at $600 million and included a $550 million senior mortgage coupled with a $50 million mezzanine loan.
Summary of transaction details:
- Property Type: Multifamily
- Transaction Amount: $600,000,000
- Units: 3,241
- Lender: James Goldberg - Citi
- Brokers: Purvesh Gosalia & Hayden Hedrick - Newmark
- Loan Type: Senior & Mezzanine
The deal was arranged by Newmark, with key representatives including Purvesh Gosalia and Hayden Hedrick, who successfully closed the transaction within 60 days. The financing will be utilized to refinance $250 million in existing debt across five stabilized properties and to acquire three additional multifamily assets totaling 1,496 units.
Players
Market MultiFamily Market Snapshot
Boundary boundary · MultiFamily · Loan transactions
Loading comparables…
Purchase Price
Annual NOI
Loan Amount
Interest Rate (%)
Loan Term (yrs)
Down Payment (%)
Cap Rate
0.03%
Cash-on-Cash
-0.01%
Monthly Payment
$14,164
Annual Debt Svc
$169,964
Annual Cash Flow
$-11,334
DSCR
0.93