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U.S. Department of Housing and Urban Development recognizes Caliber’s opportunity zone project
Caliber recently hosted U.S. Department of Housing and Urban Development Secretary Christopher Patterson for a tour of its newly completed federally designated opportunity zone project, the Phoenix Medical Psychiatric Hospital (PMPH). This 62K square-foot mental health facility in downtown Phoenix will not only improve patient accessibility, but also add new healthcare jobs to the area.
Opportunity zones offer capital gains advantages to investors as a way to spur economic development in low-income communities. “The thing that I was fascinated most with is that Caliber was thinking outside the box,” Patterson says. “I’ve never heard of a capital group coming in and actually trying to use opportunity zones as an investment structure to actually do something that really improves the community.”
This month, the company received its first rent check from the hospital manager in the amount of $185K, marking the beginning of revenue generation for the company.
The campaign is successfully funded and still accepting investments.
What is Caliber?
Caliber is a full-service real estate investment company that provides investors access to sophisticated, private real estate investments.
Here’s how it works:
Individual accredited investors or registered investment advisors invest in Caliber Funds to gain access to real estate investments, without having to actively manage them.
Caliber acquires residential, commercial, or hospitality real estate it views as potentially attractive and able to generate future gains.
Caliber’s internal real estate services divisions work to develop, construct, and manage the assets it acquires to improve profitability and potentially grow asset values.
Caliber continually evaluates each project to determine the optimum time to harvest gains, refinance, or re-invest and take advantage of new market opportunities for investors.
Caliber manages all facets of each project for investors, from purchase, development, and construction to marketing, sales, and reporting, creating an alternative way to access an established asset class – real estate