Behavioral health center article originally posted by AZ Big Media on Aug 7, 2019.
Caliber- The Wealth Development Company plans to open a behavioral health center located in a downtown Phoenix Opportunity Zone. The 62,592-square-foot clinic will have 96 beds and intends to serve patients with psychiatric conditions.
“This is a great example of how opportunity zones can truly make a positive impact on communities by enabling projects that are profitable, yet otherwise may not have attracted traditional funding,” said Chris Loeffler, CEO and co-founder of Caliber-The Wealth Development Company. “The clinic is expected to bring 80 high-income jobs into downtown Phoenix and, more importantly, serve a population in desperate need for advanced care.”
The clinic is the fourth investment to be included in the Caliber Tax Advantaged Opportunity Zone Fund, LP. and is one of the first healthcare opportunity zone properties across the country. Over the past year, Caliber has emerged as an industry-leading expert in opportunity zones and its Qualified Opportunity Zone Fund (QOF) has raised more than $40 million since its launch in Q4 2018. The fund is open to investment of short- and long-term capital gains, providing significant tax savings to investors, and is expected to reach its $500 million goal within two years.
“The partnership with Caliber has allowed us to expand our reach and bring proven behavioral healthcare programming to an additional 4,500 patients each year,” said Dr. Cameron Gilbert, founder of NeuroPsychiatric Hospitals and CEO and Board Chairman of the Medical Behavioral Hospital of Phoenix LLC. “Our nationally recognized programs utilize an integrated model that works to ensure that all patient complexities are properly addressed to heal both body and mind.”
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