Calta buys Coral Gables apartments from Shoma co-founder Maria Lamas
The Real Deal
April 26, 2023
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.