The Calta Group, led by brothers Ignazio and Gaetano Caltagirone, has announced closing a $53.693 million construction loan for two new rental apartment projects in Hollywood, Florida: Caltopia Hollywood and Caltopia Hollywood II designed by Kaller Architecture. The loans were provided by Forman Capital, under the leadership of Scott Mehlman, with advisory services by George Gnad, Mathew Gnad, and Helmut Fischer of Lenders Capital Realty Services.
Caltopia Hollywood and Caltopia Hollywood II will add 251 Class-A units to Hollywood’s growing residential market. Both developments feature four-story buildings, surface parking, and modern amenities within walking distance of the lively Young Circle area. Residents will have access to a lounge, pool, pet grooming services, and a fitness center.
Caltopia Hollywood. Credit: The Calta Group.
Caltopia Hollywood. Credit: The Calta Group.
Caltopia Hollywood, located at 2750 Van Buren Street, spans 153,080 square feet on 1.95 acres, offering 151 residential units with 111,777 rentable square feet. Caltopia Hollywood II, at 2217-2239 Jackson Street, covers 86,135 square feet on 1.29 acres, with 100 residential units totaling 72,720 rentable square feet. Construction on Caltopia Hollywood II is scheduled to begin in May, with work on Caltopia Hollywood following in August.
Caltopia Hollywood II. Credit: The Calta Group.
Caltopia Hollywood II. Credit: The Calta Group.
Caltopia Hollywood II. Credit: The Calta Group.
“We are committed to continuing our investments in Hollywood as we believe the city is on the precipice of a much-needed boom,” said Gaetano Caltagirone, Co-Founder of The Calta Group. “Its strategic location between Fort Lauderdale and Aventura makes it second to none. With these new projects, we want to redefine what living spaces mean and give residents an unparalleled quality of life.”
“Forman Capital is proud to support The Calta Group in their vision to redefine downtown Hollywood’s urban landscape,” added Scott Mehlman, Partner and Chief Investment Officer at Forman Capital. “Their dedication to enhancing communities aligns perfectly with our mission to finance impactful and innovative projects.”
The Calta Group is also behind Revv Hollywood, a 180-unit multifamily project at 2233 Hollywood Blvd., featuring studios, live-work units, and one- to two-bedroom apartments. Revv Hollywood topped off last summer and is scheduled for completion in summer 2025, with leasing announcements to follow.
This latest financing round follows The Calta Group’s $30 million construction loan from Banesco USA for Via Veneto, an ultra-luxury townhome development in Coral Gables.
Location for Caltopia Hollywood
Location for Caltopia Hollywood II
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