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The Calta Group Secures $53.69M Construction Loan For Multifamily Development In Hollywood

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FINANCED
$53,693,000

Florida

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MultiFamily478,430 SF
Financed 02/07/2025
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FINANCED

The Calta Group Secures $53.69M Construction Loan For Multifamily Development In Hollywood

2750 Van Buren Street & 2217 Jackson Street

See Similar Deals
MultiFamily478,430 SF
Financed 02/07/2025
Contact now

Summary

FLORIDA
Asset Type:MultiFamily
Price Per Square Foot:$112
Total Square Footage:478,430 SF
Transaction Type:Loan

The property asset involved in this transaction is a multifamily development located at 2750 Van Buren Street and 2217-2239 Jackson Street in the Hollywood market, comprising 251 units with a total square footage of 239,215. The loan amount secured for this project is $53,693,000, classified as a construction loan.

Summary of transaction details:

The key individuals behind this deal include Scott Mehlman, representing Forman Capital as the lender, and the development team comprising Ignazio Caltagirone, Gaetano Caltagirone, and Igor Blatnik from The Calta Group. The transaction also involved George Gnad, Mathew Gnad, and Helmut Fischer from Lenders Capital Realty Services, acting as brokers in the deal.

Players

George Gnad
2 deals$107.4M volume(917) 208-3300
BROKER

Matthew Gnad
Lenders Capital Realty Services
2 deals$107.4M volume(646) 670-2292
BROKER

Helmut Fischer
Lenders Capital Realty Services
1 deal$53.7M volume
BROKER

Forman Capital
LENDER

Details

FINANCED
IMAGE: Scott Mehlman, George Gnad, Gaetano Caltagirone, Mathew Gnad, Ignazio Caltagirone, Helmut Fischer & Igor Blatnik DATE: 02/07/2025 ADDRESS: 2750 Van Buren Street & 2217-2239 Jackson Street MARKET: Hollywood ASSET TYPE: Multifamily ~ UNITS: 251~ SF: 239,215 LENDER: Scott Mehlman (@ScottMehlman) - Forman Capital (@FormanCapital) DEVELOPER: Ignazio Caltagirone, Gaetano Caltagirone & Igor Blatnik - The Calta Group (@TheCaltaGroup) BROKERS: George Gnad, Mathew Gnad & Helmut Fischer - Lenders Capital Realty Services LOAN AMOUNT: $53,693,000 LOAN TYPE: Construction

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Deal Type
Debt Service Coverage Ratio (DSCR)

1.05x

Max Loan Amount

$53,693,000.00

Monthly NOI$357,953.33
Monthly Debt Service$339,376.28
Change in Cash Flow$0.00
Refinance Proceeds$0.00