Brickell-area school scores $19M loan to build new campus

KLA Elementary School planning 90K sf school

Miami /
Dec.December 04, 2018 02:30 PM

KLA Elementary School with Roberto Ortega and Candy Ortega

UPDATED, Dec. 4, 3:30 p.m. KLA Elementary School in Miami just scored a $18.7 million loan as the school plans to build a new campus near Brickell.

The Miami-based private school secured the loan from FirstBank Florida, the Florida arm of FirstBank Puerto Rico, property records show. The new school will be built on three properties just west of I-95.

KLA is planning to build the 90,480-square-foot private school at 375 Southwest 15th Road, and 1131 and 1109 Southwest Fourth Avenue, according to property records. It paid $6.2 million for the properties, which have two apartment complexes, in February.

Candy and Roberto Ortega and a group of investors and educators founded KLA Schools in 2008. The owners began franchising in 2010 and there are now 15 franchisees. It’s based in Brickell at 600 Southwest First Avenue.

Construction for the 450-student school will begin in the first quarter of 2019 and is expected to take up to 16 months to complete. Ortega said he wanted to create an urban and modern setting and was inspired by schools in New York City.

Last week, another private school made big news in South Florida. The Avenues: The World School is planning to open at the former Archbishop Curley Notre-Dame High School site in Little Haiti. New York-based Avenues is an exclusive private school where tuition costs are over $54,000 per year, according to its website.


Related Articles

arrow_forward_ios
David Grutman and Pharrell’s Goodtime Hotel had received nearly 30 noise violations (Carma Connected, Getty)
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Too much of a good time? David Grutman and Pharrell’s Goodtime Hotel could lose entertainment permit
Related Companies Chairman Stephen Ross with One Flagler (Related, Getty)
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Prayers answered? Related Companies closes on church site for planned office tower in downtown West Palm
Grover Corlew principal Mark Corlew with Bank of America Tower in Boca Raton (Grover Corlew)
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Grover Corlew buys Bank of America Tower in Boca Raton for $45M
Black Lion CEO Robert Rivani with SLS Lux Brickell (LinkedIn via Rivani, Facebook via SLS Lux Brickell)
Black Lion buys SLS Lux Brickell retail condo for $14M
Black Lion buys SLS Lux Brickell retail condo for $14M
Davie student housing complex scores $62M refi, construction loan
Davie student housing complex scores $62M refi, construction loan
Davie student housing complex scores $62M refi, construction loan
The partially collapsed 12-story Champlain Towers South condo building (Getty)
Inside the tug-of-war over the Surfside condo site’s future
Inside the tug-of-war over the Surfside condo site’s future
Nadim Ashi of Fort Partners with the hotel (Four Seasons, Fort)
Fort Partners buys Four Seasons Brickell hotel for $130M
Fort Partners buys Four Seasons Brickell hotel for $130M
Guillermo Lasso and the Asia Brickell Key condo in Miami
Ecuadorian president’s alleged Florida real estate ties raise questions
Ecuadorian president’s alleged Florida real estate ties raise questions
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...