Construction timeline

Below are selected risk factors associated with an investment in Series AA Cumulative Redeemable Preferred Stock. Investments in Caliber securities can lose entire value, are illiquid and are speculative.

• Investment involves high degree of risk; limited liquidity; no public market; suitable only for sophisticated investors;
• Investment strategy is speculative; returns are not guaranteed and no assurance objectives will be achieved;
• May pay distributions and fund redemptions from borrowings, offering proceeds, or asset sales with no limits on amounts it may pay from such sources;
• May invest in securities that involve a higher degree of risk or have valuations that fluctuate dramatically;
• Access to debt financing may be limited and subject to rate increases, restrictive covenants, or untimely repayment obligations;
• Involves unique risks associated with real estate investment, including competition for tenants, interest rate risk, occupancy issues, insurance risks, inflation risk, among others.;
• Offering is not contingent on a minimum capital raise;
• Multiple conflicts of interest, including compensation arrangements, incentive fee structures, positions held with affiliated entities, co-ownership arrangements, and the purchase of and allocation of investment opportunities.
• For a more complete discussion of risk factors, please refer to the Series AA Cumulative Redeemable Preferred Stock offering circular.

The material herein does not constitute an offer to sell nor is it a solicitation of an offer to purchase any security. Offers will only be made through an offering circular and where permitted by law. Investments in any security are not suitable for all investors. Investments in securities involve a high degree of risk and should only be considered by investors who can withstand the loss of their investment. Prospective investors should carefully review the “Risk Factors” section of the offering circular which is filed with the United States Securities and Exchange Commission (the “SEC”). Investors should perform their own investigations before considering any investment and consult with their own legal and tax advisors.

The above includes statements concerning the Company’s expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance, or growth and other statements that are not historical facts. These statements are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. In some cases, readers and the audience can identify these forward-looking statements through the use of words or phrases such as “estimate,” “expect,” “anticipate,” “intend,” “plan,” “project,” “believe,” “forecast,” “should,” “could,” and other similar expressions. Forward-looking statements involve risks and uncertainties that may cause actual results or outcomes to differ materially from those included in the forward-looking statements. Any forward-looking statement speaks only as of the date on which such statement is made, and the Company undertakes no obligation to update the information contained in any forward-looking statements to reflect developments or circumstances occurring after the statement is made or to reflect the occurrence of unanticipated events. The Company’s expectations, beliefs, and projections are expressed in good faith and are believed by the Company to have a reasonable basis, but there can be no assurance that management’s expectations, beliefs, or projections will result or be achieved or accomplished. Factors that may cause actual results to differ materially from those included in the forward-looking statements include, but are not limited to, factors affecting the Company’s ability to successfully operate and manage its business, including, among others, title disputes, weather conditions, shortages, delays, or unavailability of equipment and services required in real estate development, property management, brokerage and investment and fund operations, the need to obtain governmental approvals and permits, and compliance with environmental laws and regulations; changes in costs of operations; loss of markets; volatility of real estate prices; imprecision of property valuations; environmental risks; fluctuations in weather patterns; competition; inability to access sufficient capital from internal and external sources; general economic conditions; litigation; changes in regulation and legislation; economic disruptions or uninsured losses resulting from major accidents, fires, severe weather, natural disasters, terrorist activities, acts of war, cyber attacks, or pest infestation; increasing costs of insurance, changes in coverage and the ability to obtain insurance; and other presently unknown or unforeseen factors. Other risk factors are detailed from time to time in the Company’s reports filed with the Securities and Exchange Commission. In addition to financial measures calculated in accordance with generally accepted accounting principles (“GAAP”), this presentation contains certain non-GAAP financial measures. The Company believes that such non-GAAP financial measures are useful because they provide an alternative method for assessing the Company’s operating results in a manner that is focused on the performance of the Company’s ongoing operations, for measuring the Company’s cash flow and liquidity, and for comparing the Company’s financial performance to other companies. The Company’s management uses these non-GAAP financial measures for the same purpose, and for planning and forecasting purposes. The presentation of non-GAAP financial measures is not meant to be a substitute for financial measures prepared in accordance with GAAP. This information does not constitute an offering of, nor does it constitute the solicitation of an offer to buy securities of the Issuer. This information is provided solely to introduce the Issuer to the recipient and to determine whether the recipient would like additional information regarding the Issuer and its anticipated plans. Any investment in the Issuer or sale of its securities will only take place pursuant to an appropriate, private placement memorandum and a detailed subscription agreement. This information is confidential and may not be distributed to any other person without prior written consent. An investment is suitable only for persons of substantial net worth that are willing, and have the financial capability, to bear the economic risk of an investment for an indefinite period of time. Past performance is not necessarily indicative of future results and there is no assurance that the offering will achieve its objectives or avoid significant losses. There is no public market for the securities and the Issuer is not required to redeem the units. Investors should consult their own financial professional for advice specific to them. Circumstances may exist where potential conflicts of interest exist between the Investor, Advisor, Sponsor, and affiliates in connection with the management and operation of the offering. This offering may be subject to volatility of public securities that may impact the net asset value (NAV) and total return due to market risk. The use of borrowed funds to leverage investments involves a higher degree of financial risk and may impact performance. Also, the ability to obtain financing or adverse economic/property conditions impacting debt strategies can affect returns. Direct and indirect purchase of real property and commercial real estate involves significant risk, including, market risks, risks related to the sale of land, risks specific to a given property, principal risk and liquidity risk. These Real estate risks included, but are not limited to regulation and zoning, economic conditions, financial resources of tenants, changes in interest rates and availability of mortgage funds, casualty losses, decreased property values, development and construction risks, and acts of God.

Securities offered through ARKap Markets, LLC (Member FINRA/SIPC)