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

KLA Elementary School with Roberto Ortega and Candy Ortega

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 1st Avenue.

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.

from The Real Deal Miami https://therealdeal.com/miami/2018/12/04/brickell-area-school-scores-19m-loan-to-build-new-campus/