{"id":404985,"date":"2020-12-23T06:48:15","date_gmt":"2020-12-23T11:48:15","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=404985"},"modified":"2020-12-23T06:48:15","modified_gmt":"2020-12-23T11:48:15","slug":"shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop\/","title":{"rendered":"Shoma Group Closes $84 Million in Financing for 226-Unit Multifamily Property in Doral, Florida with Walker &amp; Dunlop"},"content":{"rendered":"<div class=\"xn-newslines\">\n<p class=\"xn-distributor\">PR Newswire<\/p>\n<\/p><\/div>\n<div class=\"xn-content\">\n<p>BETHESDA,\u00a0Md., <span class=\"xn-chron\">Dec. 23, 2020<\/span> \/PRNewswire\/ &#8212; <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3021130-1&amp;h=477696859&amp;u=https%3A%2F%2Fwww.walkerdunlop.com%2F&amp;a=Walker+%26+Dunlop%2C+Inc.\" rel=\"nofollow noopener noreferrer\">Walker &amp; Dunlop, Inc.<\/a>\u00a0announced today that it structured <b><span class=\"xn-money\">$84,000,000<\/span><\/b> in financing for <b><a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3021130-1&amp;h=2432123522&amp;u=https%3A%2F%2Fsanctuarydoral.com%2F&amp;a=Sanctuary+Doral\" rel=\"nofollow noopener noreferrer\">Sanctuary Doral<\/a><\/b>, a newly constructed, 226-unit, Class A, mid-rise apartment building in <span class=\"xn-location\">Doral, Florida<\/span> with nearly 27,000 square feet of ground floor retail space.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder1\">\n<p>\n          <a href=\"https:\/\/mma.prnewswire.com\/media\/1391065\/Sanctuary_Doral.html\" target=\"_blank\" rel=\"nofollow noopener noreferrer\"><br \/>\n            <img decoding=\"async\" src=\"https:\/\/mma.prnewswire.com\/media\/1391065\/Sanctuary_Doral.jpg\" title=\"Sanctuary Doral\" alt=\"Sanctuary Doral\" \/><br \/>\n          <\/a>\n        <\/p>\n<\/p><\/div>\n<p>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3021130-1&amp;h=3119665353&amp;u=https%3A%2F%2Fwww.walkerdunlop.com%2Fwhat-makes-us-different%2Fbios%2Fjeremy-pino%2F&amp;a=Jeremy+Pino\" rel=\"nofollow noopener noreferrer\"><br \/>\n          <span class=\"xn-person\">Jeremy Pino<\/span><br \/>\n        <\/a>\u00a0and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3021130-1&amp;h=1405193539&amp;u=https%3A%2F%2Fwww.walkerdunlop.com%2Fwhat-makes-us-different%2Fbios%2Flivingston-hessam%2F&amp;a=Livingston+Hessam\" rel=\"nofollow noopener noreferrer\">Livingston Hessam<\/a>\u00a0led Walker &amp; Dunlop in structuring the financing on behalf of <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3021130-1&amp;h=1261923608&amp;u=https%3A%2F%2Fshomagroup.com%2F&amp;a=Shoma+Group\" rel=\"nofollow noopener noreferrer\">Shoma Group<\/a>, a strong, repeat client with extensive experience in developing multifamily properties throughout <span class=\"xn-location\">Florida<\/span>. Pino and Hessam worked alongside\u00a0<a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3021130-1&amp;h=1906574827&amp;u=https%3A%2F%2Fwww.walkerdunlop.com%2Fwhat-makes-us-different%2Fbios%2Fgeoff-smith%2F&amp;a=Geoff+Smith\" rel=\"nofollow noopener noreferrer\"><span class=\"xn-person\">Geoff Smith<\/span><\/a>\u00a0and <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3021130-1&amp;h=997367845&amp;u=https%3A%2F%2Fwww.walkerdunlop.com%2Fwhat-makes-us-different%2Fbios%2Fkimberly-riordan%2F&amp;a=Kimberly+Schmitz\" rel=\"nofollow noopener noreferrer\"><span class=\"xn-person\">Kimberly Schmitz<\/span><\/a>\u00a0of Walker &amp; Dunlop Commercial Property Funding, the company&#8217;s specialty finance first mortgage and mezzanine lending platform. Bringing a solutions-oriented approach to every deal, the team specializes in addressing the most complex commercial real estate transactions. <\/p>\n<p>Together, Walker &amp; Dunlop&#8217;s team provided interest-only bridge financing with a three-year term. The debt served as a construction loan takeout prior to lease-up of the development, which is currently approximately 30 percent occupied.<\/p>\n<p>&#8220;We&#8217;re very pleased to obtain financing for Sanctuary Doral with Walker &amp; Dunlop. 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,&#8221; commented Masoud Shojaee, President and Chairman of the board of Shoma Group. &#8220;Each team worked together to make this happen. We look forward to continuing our forward momentum on this development and collaborating on other projects in the future.&#8221;<\/p>\n<p>Sanctuary Doral, located in one of <span class=\"xn-location\">Miami&#8217;s<\/span> most desirable submarkets, offers a mix of one-, two-, and three-bedroom apartments within two, six-story mid-rise buildings. The luxury rental community is situated on eight acres and features ample outdoor space, resort-style amenities, and the unique Shoma Bazaar food hall.<\/p>\n<p>&#8220;This transaction highlights WDCPF&#8217;s ability to deliver competitively priced capital in the midst of the development&#8217;s final phase of lease-up,&#8221; Mr. Smith commented. &#8220;We believe in Shoma Group&#8217;s track record and vision for the area. Once lease-up is complete, Shoma also benefits from the position and strength of the larger Walker &amp; Dunlop platform, which can provide permanent financing through our agency, CMBS, and life company relationships.&#8221;<\/p>\n<p>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. The platform is led by former investment bankers with an average of 25 years of experience.<\/p>\n<p>\n        <b>About Walker &amp; Dunlop<br \/><\/b><br \/>\n        <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3021130-1&amp;h=2803770234&amp;u=https%3A%2F%2Fwww.walkerdunlop.com%2Fwhat-makes-us-different%2F&amp;a=Walker+%26+Dunlop\" rel=\"nofollow noopener noreferrer\">Walker &amp; Dunlop<\/a>\u00a0(NYSE: WD), headquartered in <span class=\"xn-location\">Bethesda, Maryland<\/span>, is one of the largest commercial real estate finance companies in <span class=\"xn-location\">the United States<\/span>. 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. Walker &amp; Dunlop is included on the S&amp;P SmallCap 600 Index and was ranked as one of <i>FORTUNE<\/i> Magazine&#8217;s Fastest Growing Companies in 2014, 2017, and 2018. Walker &amp; Dunlop&#8217;s 950+ professionals in 41 offices across the nation have an unyielding commitment to client satisfaction.<\/p>\n<p>\n        <b>About Shoma Group<br \/><\/b>Established in 1988, Shoma Group is an award-winning real estate development company specializing in residential and commercial projects. Over the past 31 years, Shoma has developed more than 10,000 homes and condominiums and more than one million square feet of retail and office space with <span class=\"xn-money\">$5 billion<\/span> in completed real estate transactions. Completed projects include the prestigious City Place Doral, The Flats, <span class=\"xn-person\">Park Square<\/span>, <span class=\"xn-person\">One Park Square<\/span> at Doral, <span class=\"xn-person\">Doral View<\/span>, and The Manor. Shoma has 10 current projects including Shoma Village, Shoma Retail, Shoma One, Sanctuary Doral, Shoma Bazaar, <span class=\"xn-person\">Shoma Bay<\/span>, Ten30 South Beach and three other projects in progress. Led by President and Chairman of the Board, Masoud Shojaee, Shoma Group has built a reputation as one of <span class=\"xn-location\">South Florida&#8217;s<\/span> most trusted developers. Founded on the simple principle that properties should enrich the lives and communities of the people within them, Shoma has mastered the art and craft of home and commercial building. For more information visit <a target=\"_blank\" href=\"https:\/\/c212.net\/c\/link\/?t=0&amp;l=en&amp;o=3021130-1&amp;h=621626222&amp;u=http%3A%2F%2Fwww.shomagroup.com%2F&amp;a=www.shomagroup.com\" rel=\"nofollow noopener noreferrer\">www.shomagroup.com<\/a>.<\/p>\n<div class=\"PRN_ImbeddedAssetReference\" id=\"DivAssetPlaceHolder2\"><\/div>\n<p id=\"PURL\">\n        <img loading=\"lazy\" decoding=\"async\" title=\"Cision\" width=\"12\" height=\"12\" alt=\"Cision\" src=\"https:\/\/c212.net\/c\/img\/favicon.png?sn=PH32314&amp;sd=2020-12-23\" \/> View original content to download multimedia:<a id=\"PRNURL\" rel=\"nofollow\" href=\"http:\/\/www.prnewswire.com\/news-releases\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker--dunlop-301197889.html\">http:\/\/www.prnewswire.com\/news-releases\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker&#8211;dunlop-301197889.html<\/a><\/p>\n<p>SOURCE  Walker &amp; Dunlop, Inc.<\/p>\n<\/p><\/div>\n<p>    <img decoding=\"async\" alt=\"\" src=\"https:\/\/rt.prnewswire.com\/rt.gif?NewsItemId=PH32314&amp;Transmission_Id=202012230645PR_NEWS_USPR_____PH32314&amp;DateId=20201223\" style=\"border:0px;width:1px;height:1px\" \/><\/p>\n","protected":false},"excerpt":{"rendered":"<p>PR Newswire BETHESDA,\u00a0Md., Dec. 23, 2020 \/PRNewswire\/ &#8212; Walker &amp; Dunlop, Inc.\u00a0announced 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. Jeremy Pino \u00a0and Livingston Hessam\u00a0led Walker &amp; Dunlop in structuring the financing on behalf of Shoma Group, a strong, repeat client with extensive experience in developing multifamily properties throughout Florida. Pino and Hessam worked alongside\u00a0Geoff Smith\u00a0and Kimberly Schmitz\u00a0of Walker &amp; Dunlop Commercial Property Funding, the company&#8217;s specialty finance first mortgage and mezzanine lending platform. Bringing a solutions-oriented approach to every deal, the team specializes in addressing the most complex commercial real estate transactions. Together, Walker &amp; &hellip; <\/p>\n<p class=\"link-more\"><a href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop\/\" class=\"more-link\">Continue reading<span class=\"screen-reader-text\"> &#8220;Shoma Group Closes $84 Million in Financing for 226-Unit Multifamily Property in Doral, Florida with Walker &amp; Dunlop&#8221;<\/span><\/a><\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[],"tags":[],"class_list":["post-404985","post","type-post","status-publish","format-standard","hentry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.4 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Shoma Group Closes $84 Million in Financing for 226-Unit Multifamily Property in Doral, Florida with Walker &amp; Dunlop - Market Newsdesk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.marketnewsdesk.com\/index.php\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shoma Group Closes $84 Million in Financing for 226-Unit Multifamily Property in Doral, Florida with Walker &amp; Dunlop - Market Newsdesk\" \/>\n<meta property=\"og:description\" content=\"PR Newswire BETHESDA,\u00a0Md., Dec. 23, 2020 \/PRNewswire\/ &#8212; Walker &amp; Dunlop, Inc.\u00a0announced 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. Jeremy Pino \u00a0and Livingston Hessam\u00a0led Walker &amp; Dunlop in structuring the financing on behalf of Shoma Group, a strong, repeat client with extensive experience in developing multifamily properties throughout Florida. Pino and Hessam worked alongside\u00a0Geoff Smith\u00a0and Kimberly Schmitz\u00a0of Walker &amp; Dunlop Commercial Property Funding, the company&#8217;s specialty finance first mortgage and mezzanine lending platform. Bringing a solutions-oriented approach to every deal, the team specializes in addressing the most complex commercial real estate transactions. Together, Walker &amp; &hellip; Continue reading &quot;Shoma Group Closes $84 Million in Financing for 226-Unit Multifamily Property in Doral, Florida with Walker &amp; Dunlop&quot;\" \/>\n<meta property=\"og:url\" content=\"https:\/\/www.marketnewsdesk.com\/index.php\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop\/\" \/>\n<meta property=\"og:site_name\" content=\"Market Newsdesk\" \/>\n<meta property=\"article:published_time\" content=\"2020-12-23T11:48:15+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/mma.prnewswire.com\/media\/1391065\/Sanctuary_Doral.jpg\" \/>\n<meta name=\"author\" content=\"Newsdesk\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Newsdesk\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"3 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\\\/\\\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop\\\/#article\",\"isPartOf\":{\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/index.php\\\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop\\\/\"},\"author\":{\"name\":\"Newsdesk\",\"@id\":\"https:\\\/\\\/www.marketnewsdesk.com\\\/#\\\/schema\\\/person\\\/482f27a394d4fda80ecb5499e519d979\"},\"headline\":\"Shoma Group Closes $84 Million in Financing for 226-Unit Multifamily Property in Doral, Florida with Walker &amp; 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Dunlop - Market Newsdesk","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/www.marketnewsdesk.com\/index.php\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop\/","og_locale":"en_US","og_type":"article","og_title":"Shoma Group Closes $84 Million in Financing for 226-Unit Multifamily Property in Doral, Florida with Walker &amp; Dunlop - Market Newsdesk","og_description":"PR Newswire BETHESDA,\u00a0Md., Dec. 23, 2020 \/PRNewswire\/ &#8212; Walker &amp; Dunlop, Inc.\u00a0announced 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. Jeremy Pino \u00a0and Livingston Hessam\u00a0led Walker &amp; Dunlop in structuring the financing on behalf of Shoma Group, a strong, repeat client with extensive experience in developing multifamily properties throughout Florida. Pino and Hessam worked alongside\u00a0Geoff Smith\u00a0and Kimberly Schmitz\u00a0of Walker &amp; Dunlop Commercial Property Funding, the company&#8217;s specialty finance first mortgage and mezzanine lending platform. Bringing a solutions-oriented approach to every deal, the team specializes in addressing the most complex commercial real estate transactions. Together, Walker &amp; &hellip; Continue reading \"Shoma Group Closes $84 Million in Financing for 226-Unit Multifamily Property in Doral, Florida with Walker &amp; Dunlop\"","og_url":"https:\/\/www.marketnewsdesk.com\/index.php\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop\/","og_site_name":"Market Newsdesk","article_published_time":"2020-12-23T11:48:15+00:00","og_image":[{"url":"https:\/\/mma.prnewswire.com\/media\/1391065\/Sanctuary_Doral.jpg","type":"","width":"","height":""}],"author":"Newsdesk","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Newsdesk","Est. reading time":"3 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop\/#article","isPartOf":{"@id":"https:\/\/www.marketnewsdesk.com\/index.php\/shoma-group-closes-84-million-in-financing-for-226-unit-multifamily-property-in-doral-florida-with-walker-dunlop\/"},"author":{"name":"Newsdesk","@id":"https:\/\/www.marketnewsdesk.com\/#\/schema\/person\/482f27a394d4fda80ecb5499e519d979"},"headline":"Shoma Group Closes $84 Million in Financing for 226-Unit Multifamily Property in Doral, Florida with Walker &amp; 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