ITALIAN DEVELOPER PLANS 180-UNIT APARTMENT PROJECT IN HOLLYWOOD
An Italian developer closed on the site of a planned Hollywood apartment project, adding to a growing pipeline of multifamily developments in South Florida. Coral Gables-based Calta Group, led by founders and brothers Ignazio and Gaetano Caltagirone, and Managing Partner Igor Blatnik, paid $9.5 million for the 1.6-acre property at 2215 Hollywood Boulevard. Calta plans an eight-story, 180-unit development on the site, Gaetano Caltagirone said. The $70 million project, designed by Reinaldo Borges of Borges Architects & Associates, will include a pool, business center, gym, live-work spaces and ground floor retail, according to a press release. Construction is expected to begin in the fourth quarter. Property records show Hollywood Construction & Development LLC, led by Joseph Horn, sold the site to Calta. The property is currently home to low-rise commercial buildings. It’s west of Young Circle in downtown Hollywood.
CORAL GABLES DEVELOPER LANDS $60M TO BUILD APARTMENTS IN HOLLYWOOD
The Calta Group secured $60 million in financing to construct an apartment building in Hollywood, Fla., property records show. The seven-story development will feature 180 rental units at 2215 Hollywood Boulevard, half a mile west of 10-acre Young Circle Park, which serves as an anchor point for the city. The financing includes a $50 million construction loan from Miami-based Bridge Invest and $10 million in preferred equity. Concord Summit Capital — whose David Larson, Keegan Burger and Daniel Rojo arranged the financing — declined to say who would be taking the equity. The project, which includes Miami-based Gilu Development as a partner, is expected to be delivered in the first quarter of 2025. Coral Gables-based Calta Group acquired the 1.6-acre site last year, which now houses a one-story retail building, for $9.5 million, according to property records. Hollywood, a town between Miami and Fort Lauderdale, is experiencing a rush of activity as land prices in South Florida’s major cities skyrocketed over the past three years. BTI Partners and Bridge Investment Group secured an $83 million construction loan last year for a rental project near Young Circle Park, on the site of the former Bread Building, part of a $500 million mixed-use development Along the beach, Trinity Investments and Credit Suisse Asset Management paid $835 million for the Diplomat Beach Resort earlier this year, making it the largest hospitality acquisition since the pandemic. Since 2021, Chetrit Group has been buying units at the aging Hollywood Beach Resort condo. The New York-based developer likely plans to demolish the building to construct luxury condos.
THE CALTA GROUP RECEIVES CONSTRUCTION LOANS FOR HOLLYWOOD RENTALS
The Calta Group received a $60 million home loan for a Hollywood housing project that represents the company’s first multi-family development. According to a company press release, Calta, led by Italian brothers Ignazio and Gaetano Caltagirone, and Miami-based Gilu Development will construct the eight-story Revv Hollywood project at 2233 Hollywood Boulevard. The 180-unit building will offer studios and units, as well as one- and two-bedroom apartments. The financing package consists of a senior loan from Miami-based BridgeInvest and mezzanine loans from an undisclosed lender. David Larson and Keegan Burger of Concord Summit Capital represented Calta. According to the announcement, construction should start in the summer. Completion is scheduled for the end of next year. Also read: Related Group Receives $56M in Loans to Build FATVillage Rentals According to records, Calta paid $9.5 million for the 4-acre development last year. The Caltagirones founded Calta, based in Coral Gables, in 2010 and have been involved in real estate before that. The brothers grew up in a real estate dynasty in Italy and left the family business to venture into the South Florida real estate market during the Great Recession. They’ve renovated and flipped homes in places like Hollywood and Hallandale Beach. According to the press release, Calta has $250 million in real estate investments in South Florida. Hollywood has been attracting the attention of developers in recent years. BTI Partners is planning two 35-story towers with 856 apartments, 142,000 square feet of retail, 40,000 square feet of offices and approximately 1,600 parking spaces at 1701-1735 East Young Circle in downtown Hollywood. Dubbed Block 57, the project received city commission approval in October. Also in October, AMAC and ROVR Development secured $41 million in residential financing for the eight-story, 180-unit multifamily development Griffin 441 at 4465 Griffin Road in Hollywood. In addition to the Diplomat Beach Resort, Related Group and BH Group plan to build a 38-story, 350-unit condominium and a 43-story, 500-unit condo-hotel. Last month, developers filed an application with the City of Hollywood for the project at 3210-3690 South Ocean Drive.
THE CALTA GROUP BREAKS GROUND ON REVV, A 180-UNIT MULTIFAMILY APARTMENT BUILDING IN HOLLYWOOD
The Calta Group, a real estate design, development, acquisition, and construction company, has broken ground on Revv, an 8-story, 180-unit multifamily development located at 2233 Hollywood Boulevard in Hollywood, Florida. Revv is the first multifamily property in Broward County for the Coral Gables-based developer, who purchased the property in 2022 for $9.5 million with plans to reinterpret Hollywood apartment living with a fresh new concept. The groundbreaking for the 1.6-acre property comes from a $60 million construction loan by BridgeInvest, obtained in April. Designed by Miami-based Borges Architects + Associates, the 180-unit complex is located just a few blocks from Young Circle and its park, a highly desirable factor for residents of all ages. Revv’s vicinity is a lively mix of trendy restaurants, many healthcare options, and an array of excellent public schools. Residents will also enjoy proximity to the Fort Lauderdale International Airport and all the greater Hollywood area’s amenities.
THE CALTA GROUP APPOINTS JUDY AND NATHAN ZEDER OF THE JILLS ZEDER GROUP AS EXCLUSIVE SALES AND MARKETING
The Calta Group, a real estate design, develop, acquisition and construction company led by brothers Ignazio and Gaetano Caltagirone, along with Igor Blatnik, announced today that Judy and Nathan Zeder, the high-powered mother/son duo with The Jills Zeder Group – the nation’s number one team as recognized by the Wall Street Journal – will spearhead new development sales and marketing efforts for their robust portfolio of ultra-luxury single family homes and new development projects in South Florida. “There is no finer sales and marketing team in the nation to align our brand with and we are honored to work with them as we continue expanding across South Florida with key properties that transform neighborhoods and conventional luxury,” said Gaetano Caltagirone, President of The Calta Group. “Judy and Nathan share the very same passion and work ethic that we do and it is a point of pride to have them spearhead our sales and marketing for our new development and construction division. They are the experts in the neighborhoods in which we are active including Coral Gables, Coconut Grove, Ponce Davis, South Miami, Pinecrest and Palmetto Bay and we are glad to have them at the helm of our sales.” “Their approach to customer satisfaction, dovetails with our approach to treat each client with the same respect and care committing wholeheartedly to each. Their skills, experience, dedication and vision, combined with the highest ethical standards, have produced consistently great results for their clients year-over-year, which speaks volumes,” said Ignazio Caltagirone, CEO of The Calta Group. The Calta Group recently acquired a Coral Gables multifamily real estate development consisting of 32 rental apartments located at 915 Palermo Avenue for $12 million with plans for redevelopment to commence this fall. 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. This comes on the heels of The Calta Group’s recent announcement it has secured $60 million in financing to construct Revv, an eight-story, 180-unit apartment project in Hollywood, FL. Additionally, the firm is currently building 13 single-family homes in prestigious neighborhoods including Coral Gables, Coconut Grove, Pinecrest, Brickell and the Ponce Davis area. “It is a privilege to work with the Calta Group leading their sales and marketing efforts throughout South Florida. A prestigious developer, and builder, their homes and levels of service provided embody the highest quality and standards. Characteristics we not only admire and relate to but make us proud to showcase to our vast network of local South Floridians and those new to the area,” said Judy Zeder, The Jills Zeder Group. Judy Zeder has been a licensed Realtor-Associate in Florida for over 25 years. Her son, Nathan, joined the team in 2003, establishing “The Zeder Team,” with her daughter, Kara, joining the team in 2009. The Zeder Team became one of the top residential real estate groups in Miami, consistently ranking in the top three groups in Miami-Dade County and the top one-half of one percent nationally. In 2019, The Jills Zeder Group, affiliated with Coldwell Banker Realty, was formed. The Group is comprised of three families, all of which are major players in the luxury residential real estate business. These families include sisters Jill Eber and Felise Eber; Jill Hertzberg and her children Danny Hertzberg and Hillary Hertzberg Benson; and Judy Zeder and her children Nathan Zeder and Kara Zeder Rosen. Prior to The Jills Zeder Group’s formation in 2019, the families closed a combined total of more than $5 billion in real estate sales, including collaborating on multiple luxury sales in the Coral Gables market. With offices in Miami Beach and Coral Gables, The Jills Zeder Group specializes in high-end, multi-million-dollar luxury properties in South Florida’s most elite enclaves, representing celebrities, Fortune 500 executives, and a diverse international clientele. They offer incomparable knowledge and services to luxury real estate clients. Judy and Nathan Zeder have a particular focus on the communities of Coral Gables, Coconut Grove, Ponce Davis, South Miami, Pinecrest and Palmetto Bay with a vast network of domestic and international clients and relationships, providing worldwide access when buying or selling residential properties. Setting a high watermark for beauty, quality and sustainability in key markets throughout South Florida, The Calta Group is a fully integrated company led by brothers Ignazio and Gaetano Caltagirone, along with Igor Blatnik, which prides itself on its Italian heritage, hailing from one of Italy’s most prominent real estate dynasties, where they completed more than $1.5 billion in transactions. Artful attention to detail, commitment to high quality construction, exceeding customer expectations, and homes delivered on time and within budget, are hallmarks of the company, which was founded in 2010. Today, The Calta Group enjoys a status among the upper echelon of leading developers, with more than $250 million in their development project pipeline spread across South Florida’s most prestigious markets. The Calta Group’s projects are diversified between ultra-luxury single-family residential and Class A multifamily properties catering to a diverse mix of domestic New York buyers, locals, and international buyers seeking a bespoke, custom home, in prime or semi-prime locations.
THE CALTA GROUP ACQUIRES SITE AT 915 PALERMO AVENUE IN CORAL GABLES FOR RESIDENTIAL REDEVELOPMENT
The Calta Group, a real estate powerhouse led by brothers Ignazio and Gaetano Caltagirone and Igor Blatnik, recently announced the acquisition of a Coral Gables multifamily development for an impressive $12 million. The 32-unit rental property at 915 Palermo Avenue enjoys a prime location near the iconic Venetian Pool and the historic Biltmore Hotel—two of Coral Gables’ most cherished landmarks. With a strong emphasis on redeveloping the one-acre site, The Calta Group envisions transforming the property into an upscale boutique residential offering that will elevate the Coral Gables neighborhood. The group’s commitment to reimagining the property highlights their dedication to setting new standards for luxury living in the area. Gaetano Caltagirone, President of The Calta Group, expressed enthusiasm for the redevelopment opportunity and assured that more details about their ambitious plans for the site would be revealed shortly. Boasting a rich Italian heritage and a history of over $1.5 billion in transactions, The Calta Group has solidified its position among the elite developers in South Florida since its inception in 2010. The company’s diverse project portfolio, currently exceeding $250 million in developments, encompasses ultra-luxury single-family residences and Class A multifamily properties, catering to a discerning clientele from New York, local regions, and international destinations. The Calta Group is constructing 13 single-family homes across prestigious neighborhoods such as Coral Gables, Coconut Grove, Pinecrest, Brickell, and Ponce Davis. Additionally, the company is developing Revv, an ambitious eight-story, 180-unit apartment project in Hollywood, Florida, further underscoring its dedication to creating exceptional living spaces throughout South Florida.
ITALIAN DEVELOPERS CAPTURE SOUTH FLORIDA
South Florida, the tropical paradise we know and love, can be a challenging business environment for residential developers coming from overseas. So, it’s great to report on a company with strong European roots that continues to make its mark in the region. Coral Gables-based developers The Calta Group, are market leaders with over $150 million in its development project pipeline spread across South Florida’s most prestigious markets. The Calta Group’s projects are diversified between ultra luxury single-family residential and Class A multifamily properties. “Post-pandemic South Florida’s appeal has grown immensely, and a new crop of buyers and renters have emerged,” says Gaetano Caltagirone, president and co-Founder of The Calta Group. “We cater to domestic and overseas buyers -- and now renters -- who appreciate functional design, as well as smart and sustainable detail and finishes in their homes,” explains Ignazio Caltagirone, CEO & co-Founder of The Calta Group. Multilingual globetrotters Gaetano and his brother Ignazio have extensive development experience in one of Italy’s most prominent real estate dynasties, having completed upwards of $1.5 billion in transactions. They bring a refined European sensitivity to building homes that fit harmoniously into the local environment.
CALTA BUYS CORAL GABLES APARTMENTS FROM SHOMA CO-FOUNDER MARIA LAMAS
The Calta Group is quickly expanding its multifamily division after acquiring a Coral Gables apartment complex from Shoma Group co-founder Maria Lamas. A Calta affiliate paid $12 million for Venetian Flats, a two-building property with 32 units at 915 and 920 Palermo Avenue, according to records and Vizzda. The buyer obtained a $7.8 million mortgage from Terrabank. The deal breaks down to $375,000 per apartment. The seller, an entity managed by Lamas, bought Venetian Flats for $8.2 million in 2021, records show. Coral Gables attorney Anibel Duarte-Viera represented Lamas when she acquired and sold the property. The buildings were completed in 1963 and 1964 on nearly one acre, records show. The property is near the Venetian Pool and the Biltmore Hotel. Founded in 2010 by Italian brothers Ignazio and Gaetano Caltagirone, Coral Gables-based Calta is also partnering with Miami-based Gilu Development to build Revv Hollywood, an eight-story apartment building in Hollywood.
A new apartment development is in the works in downtown Hollywood.
A new apartment development is in the works in downtown Hollywood. The Calta Group recently purchased the site located at 2215-2239 Hollywood Blvd for $9.5 million. The 1.6-acre site was sold by Hollywood Construction & Development LLC which is managed by Joseph Horn of Miami. The same company purchased the site just late year in May 2021 for $7.7 million. Several retail and office buildings currently occupy the site and would need to be demolished once the project is approved. The Calta Group, which is led by Ignazio, Gaetano Caltagirone, and Igor Blatnik plans to develop an 8-story apartment tower. The tower itself would feature 180 units and 1,800 square feet of ground-floor retail space. The original design was proposed in 2019 by Borges Architects + Associates who would remain the lead for the project.
The bar for luxury homes in South Florida has never been higher.
It’s 2023, and the bar for luxury homes in South Florida has never been higher. Buyers who might have been satisfied with a spacious, well-appointed house a decade ago now expect sophisticated finishes
and thoughtful details that transcend coastal contemporary to embody a more worldly aesthetic. And they’re willing to pay up for them—sometimes finalizing the sale before a shovel even goes into the ground.
Leading the pack of developers creating these homes are brothers Gaetano and Ignazio Caltagirone, whose Coral Gables-based Calta Group has been setting the standard for luxury single-family spec
homes since its founding in 2010.
“We pride ourselves on not cutting corners,” says Gaetano Caltagirone, who serves as president while Ignazio is CEO of the vertically integrated business that includes acquisition, development, design and
construction. “We’re always trying to improve the product and get better at what we do.”
They’ve come a long way. The two hail from an influential dynasty of real estate developers in Italy, and before they made their move to Florida, they learned the family business from the inside. Marquee projects such as the Hilton Molino Stucky, now Venice’s largest hotel, as well as the biggest private marina in the Mediterranean, taught them how to meet the lofty standards of Europe’s most elite and exacting clients.
The lessons they learned have proved valuable on this side of the ocean during a period of major growth, a trend the Calta Group has taken full advantage of. When the company began building homes in Coconut Grove, Coral Gables, Pinecrest and South Miami 13 years ago, Caltagirone says, they sold at an average price of $2.5 million. Today, prices range from $5 million to $18 million.
“The markets have changed, and the demographic of the buyer has changed,” he explains. “Now, instead of delivering a family room that is white and has a nice floor, you have to deliver something more, which may be an accent wall, some woodwork, little things that really make a difference.”
That difference can make or break a sale, which is why, in late 2022, the Calta Group partnered with Sensi Casa to create Cento Homes. The joint venture with the Miami-based staging and interior design firm—which boasts Italian roots of its own—aims to differentiate its homes with a mix of old-world craftsmanship and cutting-edge fixtures. Available furnishings make the homes completely turnkey.
“We partnered with Sensi Casa to help us improve the interior product,” he says, “to give a different feel from other homes on the market.”
The relationship began when Sensi Casa founder Chiara Sensi-Contugi purchased a six-bedroom, 7,166-square-foot Calta home in South Miami, then had her firm design the interiors. It sold as the first Cento
Home for $5.2 million. “We saw what they were doing on some of the homes they had bought and sold, and the value they had given to them,” Caltagirone says.
Added value can be found in everything from smart storage ideas to elevated lighting. “They add things we don’t think about, like the master closet being divided a certain way, or the bathrooms being set up
differently than we usually do,” he explains. “They place importance in elements like stonework on the inside of the entrance, lighting where the buyer will put art, a window to accentuate the staircase.”
That differentiation is crucial, he explains, because on the upper end of the market, buyers look beyond price per square foot.
“People buy homes because they fall in love with them, so you have to get them to fall in love with the product you’re showing them,” he says. “Then, if your home is 300 square feet smaller than the home
next door, that’s not going to change anything.”
A recent example of the collaboration is taking shape in a highly desirable location.
“One of the homes we’re currently building with them is a house on Erwin Road in an area called Ponce-Davis, which is where homes sell at the highest price per square foot that is not on the water,”
Caltagirone says. “It’s very close to great schools and one of the greatest public elementary schools in Florida, so just being in that neighborhood has enormous value.”
While Caltagirone believes the partnership will add a premium to the prices of these homes, he sees the greatest benefit in cutting the time they spend waiting for a buyer.
“It gives us an edge on any other house on the market because we will be sold first,” he explains. “Time is money, and it’s about how fast you can sell it and how happy the customer will be because they know
they’re buying something special.”
The Cento Homes joint venture reflects more than $30 million in single-family projects so far, with plans for further expansion over the next two years. As for the other big collaboration, that between brothers
Gaetano and Ignazio Caltagirone, the former, describe the relationship as highly complementary.
“We have a great relationship because he is the construction guy on the site as a day-to-day manager and I’m more of the dealmaker,” Caltagirone says. “I manage investor relationships and relationships with the banks, and I’m the one who goes to look for more properties.”
“We do separate things, so we get along great,” he adds. “We rarely have an argument.”
The Calta Group, a real estate design, develop, acquisition and construction company led by brothers Ignazio and Gaetano Caltagirone, along with Ig
The Calta Group, a real estate design, develop, acquisition and construction company led by brothers Ignazio and Gaetano Caltagirone, along with Igor Blatnik, announced today that is has acquired a Coral Gables multifamily development consisting of 32 rental apartments located at 915 Palermo Avenue 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.”
Setting a high watermark for beauty, quality and sustainability in key markets throughout South Florida, The Calta Group is a fully integrated company led by brothers Ignazio and Gaetano Caltagirone, along with Igor Blatnik, which prides itself on its Italian heritage, hailing from one of Italy’s most prominent real estate dynasties, where they completed more than $1.5 billion in transactions. Artful attention to detail, commitment to high quality construction, exceeding customer expectations, and homes delivered on time and within budget, are hallmarks of the company, which was founded in 2010.
Today, The Calta Group enjoys a status among the upper echelon of leading developers, with more than $250 million in their development project pipeline spread across South Florida’s most prestigious markets. The Calta Group’s projects are diversified between ultra-luxury single-family residential and Class A multifamily properties catering to a diverse mix of domestic New York buyers, locals, and international buyers seeking a bespoke, custom home, in prime or semi-prime locations.
The Calta Group is currently 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, FL.
Via Veneto, 915 Palermo Ave., Coral Gables
This collection of 10 luxury townhomes is located in
the heart of Coral Gables, at the crossroads of Sevilla
and Palermo avenues. The ho
Via Veneto, 915 Palermo Ave., Coral Gables
This collection of 10 luxury townhomes is located in
the heart of Coral Gables, at the crossroads of Sevilla
and Palermo avenues. The homes are within walking
distance of many of Coral Gables’s landmarks,
including the Biltmore Hotel, the Venetian Pool,
Desoto Plaza and Miracle Mile, which has many
restaurants, boutiques, art galleries and performance
venues. The townhomes will feature modern
Mediterranean architecture, interiors by Sensi Casa,
double-height ceilings, primary bedroom suites with
dual walk-in closets and bathrooms, gourmet kitchens
and butler pantries by Mia Cucina with European
appliances, open-air terraces and covered terraces with
summer kitchens. The ground floors will have a flex
space for a gym or studio. Sales are launching in April,
and groundbreaking is anticipated for the fourth
quarter of this year with a 16-month construction
timeline.
Number of Units: 10 townhomes
Price Range: All units from the mid- to high $5 millions,
Developer/Architect: the Calta Group/Nelson de Leon
Home Sizes: The three-story residences span more than 5,500 square feet, with four
bedrooms, four full bathrooms and one partial bathroom.
Amenities: There are no common amenities.
Website: thecaltagroup.com
