Welcome to our dedicated page for CaliberCos news (Ticker: CWD), a resource for investors and traders seeking the latest updates and insights on CaliberCos stock.
CaliberCos Inc (CWD) delivers specialized asset management services focused on middle-market real estate and private equity investments. This news hub provides investors and stakeholders with timely updates on corporate developments, financial performance, and strategic initiatives.
Access official press releases covering earnings reports, portfolio expansions, leadership updates, and partnership announcements. Our curated collection serves as a reliable resource for tracking the company’s progress in fund management, development projects, and brokerage activities.
Key updates include quarterly financial results, regulatory filings, and insights into niche market strategies. Bookmark this page to stay informed about CWD’s latest moves in middle-market asset management and real estate development.
Caliber (NASDAQ: CWD), a real estate investor and developer, has appointed Steve Drew as its new Senior Vice President of Marketing, Strategy, and Technology. Drew, previously a founding member of CrowdStreet, brings over 25 years of industry experience to this newly created role. He will focus on leveraging technology to enhance Caliber's fundraising effectiveness and investment capabilities.
Drew's responsibilities include implementing automation and AI to improve execution, reduce costs, expand reach to accredited investors, and identify overlooked real estate opportunities. At CrowdStreet, Drew played a key role in raising over $4 billion in deal capital and building a community of 300,000+ investors. Caliber's CEO, Chris Loeffler, expressed confidence in Drew's ability to optimize the company's use of technology for growth and efficiency.
Caliber, a real estate investor, developer, and manager, announced the sale of 24-7 Automated Storage, a 348-unit self-storage facility in Casa Grande, Arizona, to SSF MP Investments for $4.6 million. The property, purchased in December 2015 by Caliber-sponsored investment funds, was sold to unlock capital for new investments. Located at 1040 North VIP Blvd., Casa Grande, the facility's units range from 30 to 4,000 square feet and have an 83% occupancy rate. This sale highlights Caliber's strategic investment approach and ability to create value for investors. Brokers involved included JDS Real Estate Services and Caliber Realty.
Caliber (NASDAQ: CWD) has announced the commencement of the first phase of its SP10 project in Ahwatukee, South Phoenix. The project involves converting a 160-room hotel into 104 apartment units and constructing 88 townhouse-style units. This development aims to meet the high demand for rental housing in the area, which has been exacerbated by high homeownership costs and interest rates. The location is strategically situated near major highways, the Intel semiconductor plant expansion, and other key business districts. The first phase is fully funded, combining investor equity and a construction loan. The project is expected to provide attractive returns for investors and is part of a single-asset syndication that is still open to new investors.
Caliber (NASDAQ: CWD) reported its first quarter 2024 results, showing a total revenue decrease of 22.3% compared to the first quarter of 2023. The platform revenue decreased by 25.6%, while asset management revenue increased by 16.1%. Caliber reported a net loss of $3.8 million, an adjusted EBITDA loss of $1.7 million, and fair value assets under management increased by 3.4%. The company focused on cost-saving measures and remains confident in its growth prospects.
Caliber (NASDAQ: CWD) closed a land sale in Northern Colorado, selling a 50-acre parcel to the Archdiocese of Denver for $7.7 million. A new Catholic high school is planned on this land, along with a chapel, athletic field, and gymnasium. The transaction marks significant progress in the development of Caliber's Johnstown community, showcasing its commitment to leveraging investment opportunities in the growing Northern Colorado region.
Caliber (NASDAQ: CWD) will release its first quarter 2024 financial results on May 9, 2024, followed by a webcast/conference call at 5:00 pm ET to discuss the results. Interested parties can access the call online or by phone.
Caliber (NASDAQ: CWD) announced the sale of land parcels in Johnstown, Colorado, for $12.3 million to meet housing demand. These sales include Areas B and C of The Ridge development. Area B is expected to generate a 19.5% return, while Area C will yield a 6.9% return. Caliber sold Area B to DR Horton for $7.1 million, and Area C to Journey Homes for $5.2 million. The parcels are part of a larger 750-acre mixed-use development project. Caliber remains committed to developing more parcels within The Ridge for residential and mixed-use purposes.
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