The Real Deal Miami

Hialeah charter school property trades for $10M

Home of iMater Elementary changes hands; new owner gets $7.5M mortgage
June 20, 2014 11:15AM

Playground ribbon-cutting at iMater Elementary School

Playground ribbon-cutting at iMater Elementary School

A Hialeah charter school building changed hands in a $10 million transaction, The Real Deal has learned.

Alliance X of Miami sold the 600 West 20th Street building in a deal recorded on June 13, according to Miami-Dade County records. The company paid $3.5 million for the two-acre property in March 2008. Alliance X is managed by Robert Cambo, who is managing partner of the Miami office of charter school developer Alliance Cos.

Miami-based nonprofit 600 Holdings is the buyer. It obtained a $7.5 million mortgage from Durham, N.C.-based Self-Help New Markets XI. Kim Guilarte signed the loan document as president of 600 Holdings.

A charter school called iMater Academy occupies the nearly 76,000-square-foot building on the property. — Eric Kalis