SCOTTSDALE, Ariz. – Despite the economic turbulence surrounding coronavirus, Caliber has forged a path forward and opened their online public offering for the first time in the company’s 12-year history. The crowdfunding round has already attracted more than $2 million in new capital.
Caliber’s Online Public Offering
In February, co-founders Chris Loeffler and Jennifer Schrader presented a soft rollout of the raise to investors, local dignitaries and other stakeholders.
“It may seem counterintuitive to continue with the offering with all the unrelated events happening in our community, but that is exactly when smart investors move forward,” Loeffler says. “Remember, Caliber was born out of the uncertainty and calamity of the 2008-09 crash, and as painful as it was, we are also proud that we were able to build wealth for our customers while saving properties and helping rebuild neighborhoods along the way.”
Company Track Record
- After 12 years in business, Caliber now manages more than $440 million in fair value assets and an estimated $550 million in assets under development across the Southwest.
- The company launched one of the first opportunity zone funds in the nation.
- Caliber’s base of accredited investors, or high-net-worth individuals, has doubled since 2016—from 371 to more than 800—with an average per-client investment of $520,000.
- Aggregate net capital raised for its funds has increased at an average annual rate of 39%—from $29 million to $144 million—during the five-year period ending Dec. 31, 2018.
- Six consecutive years on the Inc. 500 | 5000 list of “Fastest-Growing Private Companies in America.” Previous six-time honorees include Microsoft, Timberland, Vizio, Intuit, Chobani, Oracle and Patagonia.
- Raised $14 million through three previous rounds of private funding from 200 shareholders over a five-year period.
- Asset base has grown 186% during past four years.
- When the COVID-19 crisis first coalesced, Caliber proactively donated excess hotel room capacity from its hospitality assets to assist frontline medical teams.
The Caliber online public offering also marks the first time that non-accredited investors have been able to invest in the company. In the past, only accredited individuals earning more than $200,000 per year ($300,000 for couples) with a net worth exceeding $1 million, could invest. In this current round, the minimum investment is just $2,000, or 500 shares.
“We have democratized the process and opened up Caliber to the wider investing public, providing access to sophisticated private real estate investments that have been traditionally reserved for institutions and wealthy investors,” Loeffler says. “By investing in Caliber stock, you’re investing in the engine that services projects in Arizona, Texas, Nevada, Utah, Colorado, all the areas within the growing Southwest.”
Exciting Caliber projects in the works
- The redevelopment of a 96-bed behavioral health facility in Phoenix occupied by Medical Behavioral Hospital of Phoenix, an opportunity zone project.
- The redevelopment of nine historic mixed-use buildings in downtown Mesa adjacent to light rail and ASU’s new campus, an opportunity zone project.
- The Ridge I & II, a new 300-plus-acre master-planned development north of Denver offering residential, multi-family, industrial, medical office and retail projects.
- A new Hilton Doubletree Hotel at the Tucson Convention Center, projected to be completed in January 2021, an opportunity zone project.
- Among others, including commercial, residential, mixed-use, self-storage and hospitality.
With the new online public offering investment option, the public can help write the next chapter of Caliber’s growth story, a true Arizona original.
Learn more about Caliber’s new online public offering here.
This press release does not constitute an offer to sell, or the solicitation of an offer to buy, any security and shall not constitute any offer, solicitation or sale in any jurisdiction in which such offer, solicitation, purchase or sale is unlawful. Caliber is offering securities through the use of an Offering Statement that has been qualified by the Securities and Exchange Commission under Tier II of Regulation A. A copy of the Final Offering Circular that forms a part of the Offering Statement may be obtained from: Caliber: https://www.seedinvest.com/calibercos