By james art 
Photo ofShom
SHOMA VILLAGE apartments, a known mixed use in hyaliah, Florida, has been sold approximately $ 80.9 millionS The buyer, UPLAND APTS LLCis associated with IMC Equity GroupReal Estate Investment Company based in North Miami.
Transaction details
- Seller: Shoma Village Apartments LLC, a subsidiary of Shoma Groupdeveloper Masood ShodjeeS
- Buyer: IMC Equity Group that suggested an existing Housing and Urban Development (HUD) a loan with a remnant of approximately $ 65.02 millionS
- Purchase Price: $ 80.9 million.
View property
- Location: 429 Hialeah Drive, Hialeah, Florida.
- Size: 451,817 square feet.
- Residential: Two insecuperse buildings with 304 apartmentsS
- Parking: A seven -storey parking garage.
- Retail trade: 8,076 square feet On commercial areas on the ground floor, completed in 2023
The construction of SHOMA VILLAGE apartments begins in the summer of 2020. Shoma Group Provided a $ 67.21 million in construction loan from Walker & DunlopS The mortgage was insured by HUD.
Legal and Financial Experience
In November 2023, Shoma Retail LLC obtained a A loan of $ 10.5 million from BGEYE FINANCIAL LLCS The creditor has brought a case Masood Shodjee and his wife, Stephaniefor repayment in December. However, the trial was voluntarily rejected without prejudice later that month.
For Shoma Group and IMC Equity Group
- Shoma Group: Founded in 1998, Shoma Group manages $ 6 billion For real estate transactions. Masud Shoja is CEO, and his wife Stephanie has been president of the company since March 2022.
- IMC Equity Group: The company’s portfolio includes 27 acres Festival flea market in PumpCurrently under a contract of sale of GrantS The market is expected to be demolished and replaced with Three storage buildings and 457 parking spacesS
This acquisition marks a significant addition to the IMC Equity Group’s growing portfolio, further reinforcing its presence in the real estate market in South Florida.