Newmark has arranged $172.5 million in C-PACE construction financing on behalf of Shoma Group for Shoma Bay, a landmark mixed-use waterfront development in North Bay Village, Florida. Located at 1850 John F. Kennedy Causeway, the 24-story development will comprise 333 luxury condominium residences and a retail component anchored by a new 36,000-square-foot Publix Super Market.
Newmark’s Anthony Orso, Clifford Welden, Daniel Matz and Henry Stimler arranged the financing on behalf of Shoma Group. The financing was provided by Nuveen Green Capital, led by Christopher Lawton, Ryan Doyle, Brendan Moore and Tyler Amano.
Shoma Bay will feature 333 luxury residences, ranging from studios to three-bedroom condominiums and penthouses. The development will offer more than 60,000 square feet of amenities, including a rooftop pool deck, zen garden, wellness spa with hammam, two-story fitness center, padel court, owners’ lounge and business and co-working spaces.
Shoma Bay will also feature a retail promenade anchored by Publix, complemented by additional dining and retail offerings.
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