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 […]This article originally appeared on The Real Deal. Click here to read the full story.
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