Shoma Group Lands $172.5M Loan for North Bay Village Condo Tower With Zero Bank Debt

Shoma Group secured $172.5 million in C-PACE financing for Shoma Bay, its 333-unit, 24-story condo tower at 1850 John F. Kennedy Causeway in North Bay Village — skipping traditional bank debt entirely. Units range from 344-square-foot studios to 2,700-square-foot three-bedroom residences priced from roughly $800,000, with completion anticipated in 2027. Founded in 1988 by Masoud and Stephanie Shojaee, Shoma Group has completed over $5 billion in South Florida development, including more than 10,000 residential units.