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The Calta Group, a real estate design, develop, acquisition and construction company led by brothers Ignazio and Gaetano Caltagirone, along with Igor Blatnik, recently announced that is has acquired a Coral Gables multifamily development consisting of 32 rental apartments located at 915 Palermo Ave. for $12 million.
The approximately one acre property is located in close proximity to the iconic Venetian Pool and the historic Biltmore Hotel, two of the most distinguished landmarks in the city.
With its prime location, The Calta Group plans to redevelop the site with a luxury boutique residential offering that will enhance the surrounding Coral Gables neighborhood.
“We continue to pay close attention to the Coral Gables market for opportunities that create value-added potential for our expanding portfolio. With this acquisition, we are excited to create a development that will set a new standard for luxury living in the area,” said Gaetano Caltagirone, president of The Calta Group. “We look forward to sharing more information about our plans for this property in the near future.”
The Calta Group currently is building 13 single-family homes in prestigious neighborhoods including Coral Gables, Coconut Grove, Pinecrest, Brickell and the Ponce Davis area.
Additionally, the firm is developing Revv, an eight-story, 180-unit apartment project in Hollywood.
For more information, visit https://thecaltagroup.com/.
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