Calta Group recently acquired a development site in Hollywood and secured a $53.69 million construction loan from Forman Capital for the construction of two apartment buildings. The loan was brokered by George Gnad, Mathew Gnad, and Helmut Fischer of Lenders Capital Realty Services.
The properties, totaling 3.25 acres on Van Buren and Jackson Streets, were sold by Growtopia Group.
One of the sites on Van Buren Street will be known as Caltopia Hollywood and will feature 151 apartments with 175 parking spaces across four stories spanning over 153,080 square feet. Amenities at this location will include a second-floor pool deck, gym facilities, social room access and a rooftop deck.
The other property on Jackson Street is named Caltopia Hollywood II and has been approved for the development of 100 apartments with an additional interior courtyard featuring a pool area and fitness room. This building spans four stories over an area measuring approximately86 ,135 square feet . Both structures have been designed by Kaller Architecture.
According to Calta Group’s plans , construction for Caltopia Hollywood II is expected to begin in May while work on Caltopia Hollywood will commence in August.
