Calta Group Acquires Venetian Flats Apartment Complex In Coral Gables For $12M

The Calta Group, a real estate firm based in Coral Gables, has acquired the Venetian Flats apartment complex for $12 million. The complex consists of two buildings with a total of 32 units and is located at 915 and 920 Palermo Avenue in Coral Gables. The buildings were completed in 1963 and 1964 and are conveniently situated near the Venetian Pool and the Biltmore Hotel.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: $12,000,000
• Address: 915 & 920 Palermo Avenue, Coral Gables
• Market: Coral Gables
• Acres: 1
• Units: 32
• Price per Unit: $375,000

The Venetian Flats apartment complex was sold by Maria Lamas, co-founder of the Shoma Group, to the Calta Group. The transaction was facilitated by Terrabank, the lender involved in the deal. This acquisition further expands the Calta Group's presence in the Coral Gables market and solidifies their position as a key player in the multifamily sector.