Caliber (NASDAQ: CWD), the Scottsdale, Arizona-based real estate investor, developer, and manager, has launched the Caliber 1031 Exchange for accredited investors seeking access to real estate investment opportunities.
Caliber specializes in acquiring and managing multifamily residential, hospitality, and multi-tenant industrial assets in Arizona, Texas, and Colorado. For its first transaction, the Caliber 1031 Exchange executed a $10.16 million acquisition of a 602-unit self-storage facility in Rifle, Colorado, on behalf of a group of investors through a Tenants-in-Common arrangement. Caliber will administer all third-party relationships in connection with managing this property, and its business plan includes the construction of additional climate-controlled storage units.
The company added that investors in this 1031 exchange may complete a follow-on tax-deferred 721 exchange into a diversified real estate fund managed by Caliber two years after their initial investment. The conversion option allows investors to exchange their share of a single asset into a diversified pool of assets with access to limited quarterly liquidity.
“Caliber has studied the 1031 exchange market for years and found a gap in the market where we could step in to serve the needs of investors,” said Chris Loeffler, CEO of Caliber. “That gap is offering a low-cost investment into a high-quality asset at our acquisition basis with options for liquidity after a short holding period.”
