This is Caliber’s 5th Impact Investment in a Qualified Opportunity Zone Fund
SCOTTSDALE, Ariz. – CaliberCos Inc., a fully integrated real estate company, announced today a significant milestone within Caliber. The Company has embarked on a school expansion in Scottsdale, Arizona that will benefit the community and should serve as an attractive investment for its Opportunity Zone investors.
Caliber recently closed on the acquisition of Rancho Solano Preparatory School, a 26,646 square foot property in Scottsdale, Arizona. The total project cost is $11.5 million and is the first venture Caliber has invested in since the pandemic started in March 2020. $4.5 million in equity was offered with Caliber’s Qualified Opportunity Zone Fund leading the investment, which was maxed out within three weeks of the offering.
Commenting on the transaction, Chris Loeffler, Co-Founder and CEO of Caliber stated, “The impact from the current pandemic has touched every part of the global economy, and education has not gone untouched. Now, more than ever, there is higher demand for private education as many private schools remained opened throughout the pandemic. These institutions are providing a needed resource for parents who are unable to effectively home-school their children. Caliber’s open architecture allowed investors in our Fund, high-net worth direct investors, and a respected family office to combine forces and provide the necessary capital to build this asset for the community.”
As a result of the increased demand, Caliber will construct a new campus for Rancho Solano. In conjunction with this construction project, Rancho Solano will close its small, North Scottsdale facility and consolidate it with the existing main campus in Central Scottsdale. The new campus expansion will serve all grades pre-K through 12th grade. In addition, there is an excess piece of land that is adjacent to the school that could lead to another project.
Rancho Solano will lease the space from Caliber for a period of 20 years with a 10-year option. Upon receipt of occupancy, Rancho Solano will be given the option to purchase the building and will be offered that option again after the first and second years. Caliber believes that this project will produce positive cash flow as well as create attractive asset appreciation for its Opportunity Zone Fund investors.
Additional information on the project can be found on Caliber’s website at Rancho Solano – Caliber (caliberco.com). Caliber is seeking additional schools with a desire to expand into Qualified Opportunity Zone locations throughout the Southwest and Mountainwest matching the goals of long-term investors to the needs of local communities.
About Caliber – The Wealth Development Company
Caliber is a market leader in providing individual accredited investors and registered investment advisors with well-structured alternatives to traditional investments. The Company builds wealth by forming and managing real estate private equity investments, either through individual assets or multi-asset funds. The Company offers an approachable, full-service investment experience managing over $440M in fair value assets under management and an estimated $550M in assets under development in commercial, residential, multi-family, self-storage and hospitality real estate in AZ, CO, NV, UT and AK. Caliber’s vertical integration of support services delivers a unique and efficient 360º approach to investing in real estate. The Company is headquartered in Scottsdale, AZ with business operations focused throughout the greater Southwest region. Visit www.CaliberCo.com for more information.
About Rancho Solano Preparatory School
Rancho Solano Preparatory School is a PK-12 international learning community for high achieving students that offers a highly individualized education experience completely unique to Arizona. Additional information can be found on the website at About Rancho Solano • Rancho Solano Preparatory School
Victoria Rotondo | Caliber | 480-295-7600 | Victoria.Rotondo@CaliberCo.com
Mary Jensen | Public Relations | 310-526-1707 | mary@Irrealized.com