Shoma scores $173M construction loan for North Bay Village condo tower

Shoma Group secured a $172.5 million construction loan for its mixed-use condo tower in North Bay Village.  Nuveen Green Capital is providing the C-PACE debt, according to a release from Newmark Capital Markets Strategies, which arranged the financing. Coral Gables-based Shoma, led by Masoud and Stephanie Shojaee, are building the 24-story, 333-unit condo building. It will include a retail component anchored by a 36,000-square-foot Publix grocery store.  The tower is planned for the waterfront site at 1850 John F. Kennedy Causeway. A team led by Newmark’s Anthony Orso, Clifford Welden and Daniel Matz represented the developer in the loan. Nuveen’s […]

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