Florida & Gulf Coast CRE News In Your Inbox.

Sign up for Connect emails to stay informed with CRE stories that are 150 words or less.

Sub Markets

Property Sectors

Topics

Florida & Gulf Coast  + South Florida  + Apartments  | 
Shoma Group has acquired 2.5 acres on Bird Road in Miami, FL for $34 million to construct a mixed-use development.

Shoma Group Acquires $34M Site in Miami for $220M Mixed-Use Development

Miami-based developer Shoma Group has acquired 2.5 acres on Bird Road in Miami, FL for $34 million. The site near Coral Gables will house the $220-million Shoma One mixed-use development, which includes 391-unit apartment community and a Shoma Bazaar food hall.

Michael Fay of Avison Young represented the seller, Deel Volvo.

“Miami is more popular than ever and the robust demand for housing that we’ve seen over the last couple of years is here to stay,” said Masoud Shojaee, Shoma’s CEO and chairman of the board.

Shoma One will comprise two 18-story towers, bowling alley, child daycare, 1,161-square-foot yoga and spinning studio, dog park, co-working café, rideshare lounge and a spa. Each tower will have a rooftop lounge. Atop the eight-story gated parking garage will be a 2,500-square-foot fitness center, a club room and a pool and pavilion. Bicycle-friendly development Shoma One will also have a bike room for storage with a repair station.

Connect

Inside The Story

Shoma Group's Shojaee

About Lisa McDuffie

Lisa McDuffie arrives at ConnectCRE via REALTOR® world, where she served for nearly two decades as communications director for one of the nation’s largest REALTOR® organizations. She supported two membership-elected presidents who were commercial real estate practitioners, and managed the communications initiatives of the organization’s commercial special interest group. When not following the latest commercial real estate news, Lisa is zeroed in on her charismatic off-the-track thoroughbred as she makes the transition from an utterly failed racehorse to a lovely show hunter.

  • ◦Sale/Acquisition
  • ◦Development
Chase-12-cube
New call-to-action
New call-to-action
AshcroftCapital-04-cube