Caliber Joins Downtown Mesa, Arizona Revitalization Initiative With Multiple Building Acquisitions on Main Street

City of Mesa, 3rd largest city in Arizona

Retail and commercial redevelopment plans for 100,000 square-feet of property in the heart of Mesa to help spur community vitality and economic growth

Scottsdale, Arizona – Caliber – The Wealth Development Company, a real estate investment, development and management firm, and project partner, Habitat Metro, have purchased eight (8) downtown buildings for $7.5 Million on Main Street in Mesa, Arizona. Investment in, and re-development plans for, the nearly 100,000-square-feet of historic urban buildings are important project components to the economic strengthening and downtown transformation efforts of Arizona’s third largest city. Caliber Development, a subsidiary of Caliber – The Wealth Development Company, will serve as design-general contractor.

Initial concepts for revitalization include, among others, a rooftop restaurant on The Newberry building. According to Roy Bade, Executive Vice President of Commercial Acquisitions and Development, “Caliber is proud to play a part in this important project for the City of Mesa. We’re currently working on restoration plans with prospective new tenants to renew the energy and excitement of these underutilized historic buildings.” He added, “The retail and commercial concepts under review including restaurants, office space, and family/entertainment venues will bring vitality and support the influx of residents and visitors to the city’s urban core.”

“It’s an exciting time for downtown Mesa,” said Mesa Mayor John Giles. “Several projects are in the planning stages and working with Caliber on the development of their properties will result in an innovative place rich in character where people will want to live, work and play.”

The 8-building acquisition was purchased with the Caliber Diversified Opportunity Fund II, LP (the “Fund”).  The Fund offers accredited investors and registered investment advisors (RIAs) direct access to invest in “middle market” U.S. commercial real estate assets that can deliver attractive risk-adjusted return through a combination of current income and capital appreciation. Other development projects currently participating in the Fund include Net Zero Energy communities The Eclipse (Scottsdale, AZ) and The Roosevelt (Tempe, AZ) along with the 256-acre Villages at Johnstown mixed-use community north of Denver, CO.

The City of Mesa has achieved tremendous progress with its plans to revitalize the community with the strategic expansion of the light rail, a spring training facility and the new world-class $100 Million Mesa Arts Center. The City of Mesa recently announced that it is in talks with Arizona State University to expand downtown with programs in film, media, gaming, virtual reality and more. Additionally, Co+HOOTS recently announced it will bring its nationally-recognized collaborative shared office space to Downtown Mesa as part of The GRID’s $60 Million mixed use residential, office and restaurant project targeted to bring 500 new residents to downtown Mesa.

Individuals interested in the Caliber Diversified Opportunity Fund II, LP can call 480-295-7600 or email Invest@caliberco.com.

 




Caliber Offers Accredited Investors Sophisticated Replacement to Single Family Rentals

Ribbon Cutting Marks Start of New Private Equity Real Estate Opportunity to Achieve Benefits of Rental Ownership without Management Headaches 

Scottsdale, Arizona — Caliber – The Wealth Development Company today announced the launch of the Caliber Residential Advantage Fund, LP (the “Fund”). The new Fund, which is available to accredited investors directly or by recommendation from Registered Investment Advisors (RIAs), offers the capital appreciation and passive income producing benefits of residential property ownership without the burden of daily management. 

“I’ve wanted rental properties for diversification as well as income, tax and growth aspects for a while,” said David Cogan, Caliber investor and Managing Partner of Eliances. “I never took the first step because of the time involved in property management and ownership.” He added, “Working with Caliber allows me to invest in the marketplace without having to manage while reaping the equity and tax advantages of ownership.”

Distinct Tax Advantages and REIT Differentiation

The Caliber Residential Advantage Fund will acquire, renovate, rent and manage a diversified portfolio of single-family homes, townhomes, condominiums, duplexes, triplexes, and fourplexesin growth-oriented markets.  Additionally, it will opportunistically pursue the more elegant strategies in residential investment such as bulk purchasing and short term, high yield flips.  The Fund offers innovative access for individual investors to exceed the risk-adjusted results they could otherwise attempt to achieve investing alone. 

A key differentiator of this Fund versus a Real Estate Investment Trust (REIT) is specific properties are directly owned by the Fund with investors owning a proportionate share as limited partners. Investors, therefore, potentially achieve consistent rental income, appreciation and unique tax advantages uncharacteristic of REITs. Investors wanting to exit daily management of their current rentals can also opt to deed over existing property titles to the Fund in exchange for limited partnership ownership interests.

Turnkey Approach For Investing in Residential Rentals 

For a minimum $35,000 investment, an accredited investor can choose to invest in the Fund and own a proportionate share of a portfolio of hand-picked properties. Caliber draws upon its in-house capabilities to acquire, renovate, lease and manage the property generating economies of scale and greater ROI. The Fund was designed with an 18-month minimum commitment and a long-term strategy, allowing investors similar terms to owning rentals on their own. Click here to view the Caliber Residential Advantage Fund video.

According to a new Realtor.com forecast, the top housing market in the U.S. in 2017 will be metro Phoenix. The Valley’s steady growth in sales and price increases, tighter new home market and short supply of foreclosures make it one of the healthiest in the country. See RED News “West is Best” in 2017 housing growth for Tucson and Phoenix.

According to Caliber Realty Group Director of Acquisitions Lisa Pudewell, “There’s tremendous desire by investors to diversify into new strategies that produce risk-adjusted returns beyond traditional investment portfolio options.” She added, “The Caliber Residential Advantage Fund is a model for creating wealth like none other in the industry. With over 50 homes currently identified to jump-start the Fund and a strong pipeline of property deals being evaluated to ensure distributed cash flow and appreciation goals, the perpetual Fund is targeted to become a ‘must-buy’ with investors and will grow into attractive markets beyond Arizona over the next few years.”

The Caliber Residential Advantage Fund follows the highly successful Caliber Distressed Real Estate Income Fund (CDIF, LLC) that closed early and exceeded its goal at $26.6 Million in total capital. 

An Inc. 500/5000 company for three consecutive years and recognized as a prominent driver for economic growth in 2016 by the Greater Phoenix Chamber of Commerce, Caliber is a full-service real estate investment company that has amassed in 8 years assets under management of nearly $250 Million in AZ, NV and AK. 

For the Residential Advantage Fund, Caliber is seeking investors and wholesale real estate relationships in attractive, growth markets. For more information, please visit www.CaliberCo.com or contact Caliber directly at 480-295-7600




Caliber Acquires The Palms Portfolio Consisting of Three Multifamily Properties in Phoenix, Arizona

Shadow Palms Apartment, Phoenix, AZ
Palms Shadows Apartment, Phoenix, AZ

Scottsdale, AZthree multifamily properties, in Phoenix, Arizona. The , including the Siesta Palms, Palm Shadows and Twin Palms communities, have been successfully operated for 20 years as long- and short-term furnished rental units.

According to Chris Loeffler, CEO and Co-Founder of Caliber, “It’s not often that a group of three quality assets, managed profitably for decades comes available in an off-market transaction, with great in-place management. With demand on the rise in these neighborhoods, especially near Grand Canyon University (GCU), when one considers the excellent condition, cash flow, location and purchase price of the Palms apartment portfolio, it may be one of the finest multifamily assets Caliber has ever acquired for our investors.”

Built in the 1970’s, all three communities are well maintained and are gated with swimming pools, BBQ areas and laundry facilities.  Requiring only minor property improvements for value-add potential, two of the properties are located within direct proximity to the ever-expanding Grand Canyon University.  The 124-unit Siesta Palms is located next to campus on 25th Ave and Colter, while the 120-unit Twins Palms is located on 27th and Campbell. The 130-unit Palms Shadow lies on 14th St. and Thomas, directly across the street from a current Caliber apartment community, Uptown Square, and within the upscale mid-town neighborhood near the Phoenix Country Club. Caliber will continue the furnished accommodations rental model and monitor market demands in the surrounding areas for conversions especially with expansion and demand for student housing near GCU.

Better Business Bureau’s Torch Award for Ethics.

Caliber assists investors in building their wealth through both equity and debt real estate based investments, either through individual assets, or through private funds. Caliber is focused upon opportunistically acquiring various types of commercial assets, with in place cash flow, and maintaining low leverage on them. Through its proven renovation and management expertise, Caliber is able to increase revenue, maximize tax benefits, all the while protecting investor capital. Caliber currently invests in Hotels, Self-Storage, Apartment Communities, Single Family Residential Properties, and Office Buildings. Caliber is a fully, vertically integrated, full service real estate investment firm controlling all aspects of the investment cycle. Services include acquisitions, construction, development and property and asset management. For more information, visit www.CaliberCo.com.