Scottsdale-based CaliberCos Inc. is set to begin construction in February for a 144-unit workforce apartment community in downtown Mesa as part of its redevelopment of that area.
The Phoenix Business Journal picked up our story, click here to read the full article on Phoenix Business Journal.
Since 2017, Caliber has acquired 10 buildings and 160,000 square feet of mixed-use space in and around downtown Mesa, with financing provided by Caliber’s Opportunity Zone Fund. Called The Commons of Mesa, that housing project will be part of Caliber’s Opportunity Zone Fund portfolio to redevelop downtown Mesa, said John Hartman, chief investment officer of Caliber.
Late last year, Mesa city officials said there was more than $500 million worth of projects in the works to help revitalize downtown. The Commons of Mesa will include 48 one-bedroom units and 96 two-bedroom units ranging between $1,700 and $2,000 in monthly rental rates.
The project is near ASU at Mesa City Center, which is expected to open this spring.
“We think there’s probably a number of students who are going to want a two-bed, two-bath with a roommate,” Hartman said.
Click here to read the full article on Phoenix Business Journal.
Are you looking for more information on multi-family real estate investments, Qualified Opportunity Zones and/or Mesa investment prospects? Check out the following sources:
- The Commons of Mesa – Webinar
- Caliber Announces the Commons of Mesa – Press Release
- 12 Reasons Why to Invest in Mesa, Arizona
- Hedging Inflation with Multi-Family Real Estate
Are you interested in learning more about Caliber’s alternative middle-market fund offerings? Fill out the form below and we’ll contact you as soon as possible to discuss with you our offerings and their potential investment benefits.
Caliber – the Wealth Development Company – is a middle-market alternative asset manager and fund sponsor with approximately $2 billion in assets under management and development. The Company sponsors private funds, private syndications, as well as externally-managed real estate investment trusts (REITs). It conducts substantially all business through CaliberCos, Inc., a vertically integrated asset manager delivering services which include capital formation and management, real estate development, construction management, acquisitions and sales. Caliber delivers a full suite of alternative investments to a $4 trillion market that includes high net worth, accredited and qualified investors, as well as family offices and smaller institutions. This strategy allows the Company to opportunistically compete in an evolving middle-market arena for alternative investments. Additional information can be found at CaliberCo.com and CaliberFunds.co.
Click here to see Caliber’s current property portfolio.
If you would like to speak to someone about diversifying your retirement accounts, contact us at email@example.com or call (480) 295-7600 to schedule a call with a member of our Wealth Development Team.
If you would like to learn more about Opportunity Zone Investing, Caliber has put together a special guide that cuts through the myths and misconceptions and outlines the benefits, the risks, and the upcoming deadlines you must know to be able to participate. Get access to the guide here.
The information contained herein is general in nature and is not intended, and should not be construed, as accounting, financial, investment, legal, or tax advice, or opinion, in each instance provided by Caliber or any of its affiliates, agents, or representatives. The reader is cautioned that this material may not be applicable to, or suitable for, the reader’s specific circumstances, desires, needs, and requires consideration of all applicable facts and circumstances. The reader understands and acknowledges that, prior to taking any action relating to this material, the reader (i) has been encouraged to rely upon the advice of the reader’s accounting, financial, investment, legal, and tax advisers with respect to the accounting, financial, investment, legal, tax, and other considerations relating to this material, (ii) is not relying upon Caliber or any of its affiliates, agents, employees, managers, members, or representatives for accounting, financial, investment, legal, tax, or business advice, and (iii) has sought independent accounting, financial, investment, legal, tax, and business advice relating to this material. Caliber, and each of its affiliates, agents, employees, managers, members, and representatives assumes no obligation to inform the reader of any change in the law or other factors that could affect the information contained herein.