Calta Group purchased a 0.3-acre office property in Allapattah that completes an assemblage for Revv at the River District, a planned mixed-use project featuring workforce housing.
The Coral Gables-based developer is in the midst of a $47.2 million buying binge in Allapattah with plans to build four new projects. The firm’s latest acquisition, a $7.2 million purchase of a seven-story building at 1469 Northwest 13th Terrace, will be coupled with another 0.7-acre adjacent site for Calta’s first planned project.
Miami-based Benworth Capital provided Calta with a $9.4 million cross-collateralized loan for the acquisition, records and Vizzda show.
The property’s seller, an entity controlled by Miami-based Alisa Capital managing partner Arturo Siso, paid $5.9 million in 2012.
Source: The Real Deal