Shoma Group Obtains $172.5M C-PACE Loan for North Bay Village Development

Newmark arranged $172.5 million in C-PACE construction financing on behalf of Shoma Group for Shoma Bay, a 24-story mixed-use waterfront development at 1850 John F. Kennedy Causeway in North Bay Village. The tower will offer 333 luxury condominium residences — from studios to three-bedroom units and penthouses — plus a retail promenade anchored by a 36,000-square-foot Publix. Amenities span more than 60,000 square feet, including a rooftop pool deck, wellness spa with hammam, two-story fitness center, padel court, owners' lounge, and collaborative workspaces.