CaliberCos Inc., a fully integrated U.S. alternative investment sponsor, announced today that they sold Fiesta Tech, a 42,111 square-foot office/flex building located in Gilbert, Arizona for $8.25 million. The Company purchased the asset for $4.75 million in 2016.
“This transaction is demonstrative of Caliber’s value-add investment strategy” stated Lisa Pudewell, Vice President of Real Estate Assets at Caliber. “Arizona and other Southwest markets continue to surge with demand and this sale illustrates the growing demand within our markets and allows us to create value through strategic transactions that generate an optimal balance of risk-adjusted returns as well as attractive investment performance for our investors.”
Built in 1977, Fiesta Tech is an industrial office park that provides flex space for a myriad of uses from light industrial to build-to-suit office suites. Located approximately one mile from the U.S. 60 Hwy, the building is situated in a growing Phoenix suburb. The complex also boasts abundant covered parking with 5.5 spaces per 1,000 square feet.
Caliber – The Wealth Development Company – is a leading U.S. sponsor with approximately $1 billion in assets under development and management. These investments are comprised of alternative investments, which include private funds and syndications, externally managed real estate investment trusts (REITs) as well as public funds. The Company conducts its business through its Sponsor, CaliberCos Inc., a vertically integrated platform that is strengthened by more than 70 professionals with decades of institutional experience in commercial real estate, capital markets, alternative investments, and mergers and acquisitions.
Caliber allocates its alternative investment strategies and aligns them with investors’ investment objectives, risk profiles and liquidity preferences to offer an optimal balance of risk-adjusted returns and attractive investment performance. It is because of this thoughtful, intentional approach, and Caliber’s unwavering pursuit of performance, that Caliber has been deemed The Wealth Development Company.
Caliber strives to build wealth for its investors by offering a diverse host of investment solutions that fit its investors’. With a primary focuses on key middle-market growth areas, such as Arizona, Colorado, Nevada, Texas, and Utah, the Company continues to evaluate other U.S. markets that possess similar attractive demographics and macro-economic trends as its targeted markets, such as highly skilled labor, emerging population growth and job growth. Caliber utilizes its institutional full-service operating platform to generate operating efficiencies while enhancing the value of its investments through dedicated asset management strategies.
The company creates value through a combination of internal and external growth channels. It brings together the benefits of real estate, deep asset-class and capital markets expertise across public and private investments.
Caliber seeds, develops and manages a broad range of liquid and illiquid alternative strategies for a diverse group of investors who comprise approximately a $4 trillion alternative investment market, which 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 that range between $5 million and $50 million. Additional information can be found at www.caliberco.com and www.caliberfunds.co.
Victoria Rotondo | Caliber | 480-295-7600 | Victoria.Rotondo@CaliberCo.com
Mary Jensen | Investor Relations | 310-526-1707 | Mary.Jensen@CaliberCo.com
Susan Assadi | Gitenstein & Assadi PR | 480-510-4881 | Susan@GAPR.biz