Alta Developers Acquires Development Site In Hollywood For $23M

Alta Developers, led by Raimundo Onetto, has acquired a development site in Hollywood. The property, located at 401 North Federal Highway, encompasses 2.4 acres and was sold by Conkreta Group. The transaction took place on August 24, 2021, and the sale price was recorded at $23,000,000. With a price per acre of approximately $9,583,333, this acquisition represents a significant investment for Alta Developers.

Summary of transaction details:

• Property Type: Development Site
• Transaction Amount: $23,000,000
• Address: 401 North Federal Highway, Hollywood
• Buyer: Alta Developers - Raimundo Onetto
• Seller: Conkreta Group
• Acres: 2.4

This deal highlights the active involvement of Alta Developers, represented by Raimundo Onetto, in expanding their portfolio in Hollywood. The acquisition of this development site showcases the ambitious growth strategy of Alta Developers and their confidence in the local real estate market. The sellers, Conkreta Group, have successfully completed a significant transaction, further demonstrating their expertise in property transactions.