The Calta Group Acquires Multifamily Development On Palermo Avenue For $12M

The Calta Group, led by Gaetano Caltagirone, has acquired a multifamily development located at 915 Palermo Avenue in Coral Gables, FL. The property, situated near the Venetian Pool and Biltmore Hotel, spans approximately 1 acre of land and includes 32 rental apartments. The Calta Group purchased the property for $12 million, with plans to redevelop it into a luxury boutique residential offering, aiming to enhance the Coral Gables neighborhood.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,000,000
• Address: 915 Palermo Avenue, Coral Gables, FL
• Market: Coral Gables
• Buyer: The Calta Group - Gaetano Caltagirone

The Calta Group, led by Gaetano Caltagirone, successfully acquired the multifamily development at 915 Palermo Avenue. This strategic purchase aligns with their vision to transform the property into a luxury boutique residential offering, elevating the Coral Gables neighborhood. The proximity to amenities such as the Venetian Pool and Biltmore Hotel adds to the appeal and potential of this redevelopment project for The Calta Group.