Her diligence has resulted in resounding success. In her new position, she will lead the charge to expand the company beyond its South Florida presence into new domestic and international markets, including California, Texas, Mexico and Colombia, while continuing her integral role overseeing the firms multifamily and commercial developments, sales and management division, and marketing efforts. How The Shoma Group and its CEO Masoud Shojaee Built One Of Miami's By . Masoud Shojaee Age: 62 Birthplace: Tehran, Iran Residence: Miami Current position: Chairman and CEO, Shoma Group Education: B.S.E.E. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Miami luxury real estate agent pleads guilty in PPP fraud case. By . Masoud Shoajee of Shoma lawsuit, verdict against company of Ugo Colombo Shomas current pipeline includes Ten30, a condo development at 1030 15th Street in Miami Beach, near Lincoln Road. Masoud Shojaee - WikiAlpha The Coral Gables project, a joint venture between Shoma and CMC Group, never broke ground. Under her leadership, the firms developments have leased up and sold out in record pace, including Sanctuary Doral Apartments, which sold for a landmark $102.5 million, and Ten30 South Beach, a condominium that sold out several months before completion. Billionaire Surprises Wife of 11 Years with Private Jet as Christmas Life Time and development firm Nolan Reynolds International recently completed a 1.2 million-square-foot mixed use project with 495 luxury apartments along U.S. 1. His CMC Group is currently developing the boutique, eight-story Onda Residences in Bay Harbor Islands along with Morabito Properties. Lamas, who co-founded Shoma Group with her then-husband Masoud Shojaee, paid roughly $256,000 per unit. Founding Shoma. Coral Gables-based Shoma, led by Masoud Shojaee, completed the six-story building in November and fully leased it in the following eight months, according to the release. Mainly an attacking midfielder, he can also play as a winger or forward . The Miami Herald first reported on the project. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Connecticut private island sells for $3.5M, Brookfields Gas Company Tower goes into receivership. "This transaction highlights WDCPF's ability to deliver competitively priced capital in the midst of the development's final phase of lease-up," Mr. Smith commented. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Mitsubishi UFJ to sell SF office building at expected 80% discount. Each attorney is granted unlimited access to high quality, on-demand premium content from well-respected faculty in the legal industry along with administrative access to easily manage CLE for the entire team. Stephanie understands Shoma Groups mission and identity better than anyone, and brings to it her own creativity and innovative thinking, which has been critical to Shomas success in recent years, said founder Masoud Shojaee, who will continue in his role as Shomas CEO and Chairman of the Board. The couple split after 29 years of marriage in 2015 and their divorced was finalized three years later. The MSA Architects-designed Shoma One will have a rooftop lounge at each tower, as well as a shared eight-story garage with a 2,500-square-foot gym, pool, club room, outdoor grill and projection screens on the rooftop, according to the release. The debt served as a construction loan takeout prior to lease-up of the development, which is currently approximately 30 percent occupied. Shoma Group's Masoud Shojaee on early success, creating new concepts Developer Masoud Shojaee is planning to build a two-tower, 359-unit rental development on Bird Road near Coral Gables. Specializing in residential and commercial projects, Shojaee has built over 65 developments spanning more than 10,000 residential units and over 1 million square feet of. Real estate agent based in Miami, Masoud Shojaee, has wowed women after gifting his wife Steph a private jet In a video that has gone viral, the billionaire opens the door for blindfolded Steph, walks onto a red mat which is written her name, before removing the scarf covering her eyes Miami-Dade Circuit Court Judge William Thomas on Monday threw out an October jury verdict in favor of Shoma Coral Gables, an affiliate of Shojaees Shoma Group. At no time has Mr. Colombo ever been held liable to Shoma.. For six years, this lawsuit in. Stephanie Shojaee - EverybodyWiki Bios & Wiki The pet-friendly community also has a pet spa. The developer also previously had plans to partner with Ugo Colombo to build a luxury condo project, the Collection Residences, up the road from Shoma One at 250 Bird Road, but the partnership soured amid litigation, and eventually sold the site to Baptist Health South Florida. That means prices start at about $1,200 per square foot. Shoma Group promotes Stephanie Shojaee to president - Bizwomen Biography Of Stephanie Shojaee - Age , Net Worth and Children 2018 - Hagedorn Publishing. Masoud Shojaee bio: wife, net worth, children, and background The smallest units will be 375-square-foot studios, complete with space-efficient furniture. Site Map, Advertise| Shoma bought the 2.5-acre property at 3650 Bird Road, steps from a Metrorail stop, from an affiliate of Deel Volvo, the dealership currently on the site, records show. Masoud Shojaee and his ex, Maria Lamas, finalized their divorce in 2018. To learn more about Shoma Group and its portfolio, visit www.shomagroup.com. She earned a bachelors degree in marketing from Florida State University. All rights reserved 2023 The Real Deal is a registered Trademark of Korangy Publishing Inc. Watch: Developer Patrick Carroll "spits" on restaurant manager, Connecticut private island sells for $3.5M, Stephanie Shojaee promoted to Shoma Group president, Shoma completes Ten30 South Beach condo project near Lincoln Road, Verdict upended: Judge throws out Masoud Shojaees $10M court win against Ugo Colombo affiliate, changed a new downtown Miami rental tower. The company bought a waterfront assemblage of more than 6 acres next to its WSVN-Channel 7 TV station in three deals last year totaling $56.5 million. The deal breaks down to $453,539 per unit. Coral Gables Developer Gets Another Shot in Case Against Real Estate About Walker & DunlopWalker & Dunlop(NYSE: WD), headquartered in Bethesda, Maryland, is one of the largest commercial real estate finance companies in the United States. Shoma Group co-founder Maria Lamas files foreclosure on company Both options are priced the same. Masoud Shojaee's Shoma sells Doral apartments for $103M Don't miss the crucial news and insights you need to make informed legal decisions. In July, Property Markets Group and Greybrook changed a new downtown Miami rental tower to a condo tower, now called The Elser Hotel & Residences. Construction is expected to begin next year and the building could be completed in late 2024. Biography Of Stephanie Shojaee - Age , Net Worth and Children , She is the wife of Masoud Shojaee , His husband is the president and chairman of the board of Shoma Group. The switch from rentals to condos comes as rent growth is finally slowing in South Florida. Marcus & Millichap broker Landy Toledo represented the buyer and the seller. Gain access to some of the most knowledgeable and experienced attorneys with our 2 bundle options! A Miami-Dade judge overturned developer Masoud Shojaees $10 million court victory against an affiliate of his former joint venture partner Ugo Colombo. South Florida real estate reporter Developer Masoud Shojaee will get another go at his breach-of-contract claims against Miami real estate powerhouse Ugo Colombo in their dispute over a failed. Contact Us| Lamas spokesperson said she was attracted to the Palermo Avenue site because it is across from the Venetian Pool and surrounded by million-dollar homes. Previously, Stephanie was a residential real estate agent in South Florida for 10 years. The partnership began to unravel in 2015 when Shoma Coral Gables said it was pulling out of the project. The roof of the garage will have a pool, fitness center and other amenities. Originally founded in 1988 by company CEO Masoud, Shoma Group has blossomed over its 34 years of operation into developing more than 65 development projects, one million square feet of office and retail space, and handled more than $5 billion in real estate transactions. Thursday, February 2 2023. . "Each team worked together to make this happen. She has completely transformed the way Shoma markets its projects, helping the 33-year-old real estate powerhouse maintain its prominence in a social media age through her keen understanding of demand in the market and forward-thinking approach to digital marketing. Coral Gables-based Shoma has been very active in South Florida. About Us - SHOMA Group Masoud is. The group is a real estate development company which is based. The projects courtyard and plaza spaces will link to the Underline. Toledo said assemblages like the nearly 1-acre Venetian Apartments are rare finds near the Biltmore area in Coral Gables. Led by President and Chairman of the Board, Masoud Shojaee, Shoma Group has built a reputation as one of South Florida's most trusted developers. Lamas Coral Gables acquisition closed as the city experiences an apartment building boom. A Miami-Dade County Circuit Court judge overturned a $10 million jury verdict that Shoma Group CEO Masoud Shojaee's company won against a company led by condo developer Ugo Colombo of CMC Group . This unique Moroccan estate in Coral Gables owned by Miami developer Masoud Shojaee has resurfaced for $12.9 million ($1,036 per square foot), down nearly 20 percent off its original $15.9. Shojaee did not respond to a text message seeking comment. Deal for newly built, fully leased building equates $454K per unit, From left: Doug Andrews, Chairman, Avanti Residential; Masoud Shojaee, President & Chairman, SHOMA Group; Christian Garner, CEO, Avanti Residential; Sanctuary Apartment Complex at 9400 Northwest 41st Street, Doral, FL (Avanti Residential, ApartmentFinder, SHOMA Group). Sunbeam Television Corp., led by the Ansin family, has been a major player in North Bay Village. Completed projects include the prestigious City Place Doral, The Flats, Park Square, One Park Square at Doral, Doral View, and The Manor. The suit alleges he has been secretly siphoning the firm's available cash to pay and support his lavish personal lifestyle since 2015. Our Compliance bundles are curated by CLE Counselors and include current legal topics and challenges within the industry. Candidates should Lawyers of Distinction like to congratulate to the newest 2022 Lawyers of Distinction. The developer is seeking a 10 percent waiver in parking with a total of about 500 spaces. Shoma Group Closes $84 Million in Financing for 226-Unit Multifamily Shoma, led by Chairman Masoud Shojaee and President Stephanie Shojaee, is launching sales of the Shoma Bay condos, with prices starting in the $400,000s, according to a press release. nuances depending on the economy of their own countries of origin for instance." says CEO and chairman of the board Masoud Shojaee. Avanti Residential, based in Denver, bought the 226-unit complex at 9400 Northwest 41st Street, according to a Shoma news release. In addition, seven two-story apartments, ranging in size from 1,344 square feet to 1,400 square feet, will be live-work units where renters can have their office on a full floor. And it is still within walking distance to downtown. Bringing a solutions-oriented approach to every deal, the team specializes in addressing the most complex commercial real estate transactions. Monthly rents so far have averaged from $2,210 to $3,660 for one-year leases, although they have been slightly higher for seven-month leases, reaching $2,410 to $3,860 per month. Powered by, Avison Young bolsters owner and occupier capabilities, The Feil Organization Unveils Capital Improvement Plans, Preleasing begins at Ashlar Park in Quincy,First, Royal Palm Companies and ILPDeveloper Celebrate Topping, New 34-Million Dollar Luxury Rental Community Planned, Ariel Property Advisors arranges sale of multifamily, Electric charging company opens supercharging station, relocates, Kamber Management Company announces increased leasing momentum, Hoffman-Madison Waterfront Reveals Name and Design of The Wharfs Final Apartment Building, The Tides, Turner Multifamily Impact Fund I Wins First-Ever PREA Social Impact ESG Award, Avison Young bolsters owner and occupier capabilities across Philadelphia region. He owns about 3 Private Jets , He is about 63 Years Of Age. Units at Shoma Bay will start at 324-square-foot studios and go up to 1,435-square-foot three-bedroom condos. BenefitsPro Broker Expo will help attendees prepare for new issues, embrace new challenges and find new solutions. Shoma Group sold its recently completed and fully leased Sanctuary apartment building in Doral for $102.5 million, marking continued investment appetite for South Florida multifamily projects amid a hot market. Masoud Shojaei 33 languages Read Edit View history Tools Masoud Soleimani Shojaei ( Persian: ; born 9 June 1984) is an Iranian professional footballer who plays for Havadar. Consulting Magazine recognizes women leaders in technology across three categories Leadership, Client Service and Innovation. The jury had handed Shoma Coral Gables a $10 million award after concluding that Colombo and an affiliate of his development company CMC Group, breached a partnership agreement to build The Collection Residences, a 128-unit luxury condominium. North Bay Village approved the project in March, with a 36,000-square-foot Publix, a a 6,300-square-foot rooftop lounge and Shoma Bazaar food hall. The couple married in 2019, a year after Masoud finalized his divorce from Shoma Group co-founder and his former . She's been with the Coral Gables-based company since 2013, starting in the sales. P.C. Attorney Zulu Ali Renamed Top Ten Criminal & Immigration Lawyer by Attorney & Pr PVA Cal San Diego to Support Paul Ehline Motorcycle Ride Lytle Creek, SEDA Experts Expands its Forensic Accounting Expert Witness Practice. Just an all-around great location.. Unfortunately, there is no exact figure of Masoud Shojaee's salary. Shoma was attracted to the site because of its proximity to the Metrorail and the Underline, a linear park that runs underneath the Metrorail tracks. Unlimited access to Daily Business Review, Access to additional free ALM publications, 1 free article* across the ALM subscription network every 30 days, Exclusive discounts on ALM events and publications. Your article was successfully shared with the contacts you provided. Shoma paid about $16 million for the site at 1850 79th Street Causeway in May, with plans for a multifamily and retail development anchored by Publix. Shoma has 10 current projects including Shoma Village, Shoma Retail, Shoma One, Sanctuary Doral, Shoma Bazaar, Shoma Bay, Ten30 South Beach and three other projects in progress. As one of few women developers, Stephanie is passionate about improving the gender imbalance in the real estate world, which has largely remained men-dominated despite progress in other fields. Coral Gables-based Shoma, led by Masoud Shojaee, completed the six-story building in November and fully leased it in the following eight months, according to the release. [1] [2] Masoud Shojaee was awarded with Future Sharks entrepreneur of the year award in 2018 . WDCPF deftly navigates the capital markets to provide a full spectrum of funding solutions, including low leverage, high leverage, cash flow, no-cash flow, ground leases, environmental contamination, structural deficiencies, liquidity challenged sponsorship, and short-term closings. Website http://www.shomagroup.com Industries Leasing Non-residential Real Estate Company size 51-200 employees Headquarters Coral Gables, Florida Type Privately Held Founded 1988 Locations. Colombos The Collection luxury dealership, which is headquartered across the street from the development site, had grown and needed the extra garage space, according to Shoma Coral Gables suit. She has excellent instincts about demand in the South Florida market and the type of product that will thrive. Who is Masoud Shoajee? Amenities include a pool, gym with steam room and sauna and a two-story clubhouse, as well as a bike path, small soccer field and yoga lawn. Shoma wins $10M verdict against Colombo-owned company Shoma had. Colombos recent projects include the 527-unit Brickell Flatiron tower in Miami. Shoma launches sales of planned North Bay Village condos She works painstakingly to uphold Shomas mission to create unparalleled living experiences that provide an amenity to their surrounding communities, spurring growth and opportunity for generations. Our Team Account subscription service is for legal teams of four or more attorneys. Colombos exotic car dealership The Collection was also a defendant in the lawsuit, but the jury did not issue a verdict against the company. Nearby, Agave Holdings is almost finished building The Plaza, a 2.25 million-square-foot mega-project with 174 apartments, a 242-key hotel and 161,000 square feet of retail. MSA Architects is the project architect and Adriana Hoyos is designing the interiors. Shoma, in partnership with Jorge Prezs Related Group, built out the 52-acre Park Square at Doral with offices, apartments, single-family homes and retail. This is perfect for attorneys licensed in multiple jurisdictions or for attorneys that have fulfilled their CLE requirement but need to access resourceful information for their practice areas. Both companies are managed by Shoma Group President and co-founder Masoud Shojaee, Lamas'. Law Offices of Frank L. Branson seeks associate with ten plus years plaintiffs' complex, multi-defendant, personal injury trial and appellat Shipman is seeking an attorney with 8+ years of experience, to join our corporate and transactional practice. The Coral Gables-based developer tapped Craig Studnickys ISG World to lead sales and marketing of the units. BETHESDA,Md., Dec. 23, 2020 /PRNewswire/ -- Walker & Dunlop, Inc.announced today that it structured $84,000,000 in financing for Sanctuary Doral, a newly constructed, 226-unit, Class A, mid-rise apartment building in Doral, Florida with nearly 27,000 square feet of ground floor retail space. Lamas played an instrumental role in Shoma Groups growth, the company she and Shojaee founded in 1988. The platform is led by former investment bankers with an average of 25 years of experience. Other developers have made similar changes. About a mile from Lamas properties, Ubica and Maven Real Estate are planning an apartment building on a half-acre site anchored at 152 Almeria Avenue. In other multifamily ventures, Shoma paid $15.8 million for the properties at 1850 and 1872 79th Street Causeway in North Bay Village, with plans to build a 19-story project with rentals and retail. Shoma Group's Masoud and Stephanie Shojaee; renderings of new North Bay Village (Shoma Group, Getty). Theres the Adler Group and 13th Floor Investments the Link at Douglas, a mixed-use project with 312 apartments in the first phase; and Gables Station and Paseo de la Riviera, two Coral Gables projects being developed by NP International, which just rebranded to Nolan Reynolds International. Construction is expected to start in January of next year and will take up to two years. This is the second deal we have completed together this year and is a true endorsement of the strength and market appeal of our offering," commented Masoud Shojaee, President and Chairman of the board of Shoma Group. There are no other apartments within close proximity, the spokesperson said. Six units will be set aside as live/work apartments, Masoud Shojaee and 3650 Bird Road (Credit: Google Maps). Lamas filed the foreclosure lawsuit Aug. 30 against LSA Property Holdings LLC and LSA Parking LLC. The two apartment buildings will also have sky lounges on the upper floors, a cafe, co-working spaces, a movie theater and bowling alley. Sanctuary has one- to three-bedroom apartments, according to the release. Avanti appears to be beefing up its South Florida portfolio. from 8 AM - 9 PM ET. Miami-based developer Shoma Group is excited to announce Stephanie Shojaee has been named as the companys president. The. Shojaee said his project stands out from existing rental projects nearby because Shoma builds rentals with features and finishes more commonly found in condos. The following year Shoma sued Colombo, The Collection and CMC Group affiliate Gables Investment Holdings. CEO Shojaee founded Shoma in 1988 and leads it with his wife, Stephanie Shojaee, who was promoted to company president in March. Law Offices of Gary Martin Hays & Associates Subscribe to Get Latest Updates Enter your email address to subscribe to this blog and receive notifications of new posts by email. The Collection, also led by CEO Ken Gorin, is expanding to another Gables location, specifically for Jaguars and Land Rovers. Masoud Shojaee's Shoma Group paid $34 million for a Miami auto dealership, with plans to redevelop it into a pair of apartment towers. I am extremely proud of the tremendous care and attention to detail we put into everything we build, and I am committed to continuing Shomas reputation as one of the most trusted builders. Then in 1992, he bid $6 million in a government auction of 700 lots. Shojaee purchased 237 lots on Northwest 6th Street and 132nd Avenue for nearly $9 million, and developed homes on the property. As I join Masoud at the helm, Shoma has the advantage of the experience and foundational practices that my husband founded the company on 33 years ago, as well as the exploration of new ideas and fresh perspective that I bring to the table, which will keep us on the cutting edge as a market maker for years to come.. Masoud Shojaee Net Worth 2023: What valuable favors did he give to his Closing on the site is contingent on the developer securing approval for the project, to be called Shoma One. He was still under 30 when he founded the Shoma Group in 1988. Her company financed the deal with a $6.1 million loan with Ocean Bank. Not a Bloomberg Law Subscriber?Subscribe Now. Sanctuary Doral, located in one of Miami's most desirable submarkets, offers a mix of one-, two-, and three-bedroom apartments within two, six-story mid-rise buildings. Jose Saumell, partner at MSA Architects, which is designing Shoma One, said the two 18-story and 19-story luxury apartment buildings will flank an eight-story parking garage. Customer Service| Other project amenities will include a bowling alley lounge, day care, a yoga and spinning studio spanning 1,161 square feet, a dog park, co-working caf, spa with a steam room, bicycle storage and repair area, and a lounge to wait for Ubers and Lyfts. Six of the apartments will be live/work units along 37th Avenue and Bird Road. The company provides a comprehensive range of capital solutions for all commercial real estate asset classes, as well as investment sales brokerage services to owners of multifamily properties. The net proceeds of the sale, $16 million, is being held in escrow, according to court filings. Stephanie Shojaee on Marriage to Masoud, Shoma Lamas, who co-founded Shoma Group with her then-husband Masoud Shojaee, paid roughly $256,000 per unit. Our second option allows you to build your bundle and strategically select the content that pertains to your needs. Masoud Shojaee His Current Net Worth is Valued at $61 Billion. Shoma Group Appoints Stephanie Shojaee as President Masoud Shojaee (born 3 August 1959 Tehran, Iran) is an American philanthropist, entrepreneur, CEO and Chairman of the Board of Shoma Group which is a real estate development company based in Miami specializing in residential and commercial projects. Every day it is a privilege to lead our amazing team, and this position is a great honor, said Stephanie.