Calvera Targets $30 Million+ in Capital Commitments
Wednesday, August 14, 2019 4:30 AM
New Multifamily Transformation Fund Now Open to Accredited Investors
SAN FRANCISCO, CA / ACCESSWIRE / August, 14, 2019 / Calvera Partners, a leading Bay Area real estate investment firm, has launched its third discretionary private real estate fund, seeking more than $30 million in capital commitments from accredited investors.
Open only to accredited investors, Calvera Partners’ Multifamily Transformation Fund offers an opportunity to invest in underperforming apartment properties with potential for post-renovation gains. The new Fund will leverage the firm’s authentic, investor-first ethos and proven repositioning and branding strategy, a time-tested approach that informs every Calvera transaction and relationship. The Calvera team has produced a weighted average net leveraged IRR of 32.9% and a 2.3x net leveraged multiple on invested capital in each of the prior single-asset investment vehicles sold.
“Our disciplined deal sourcing and underwriting process and localized approach to renovation are unique to Calvera,” said Calvera’s Brian Milovich, “We stand out in a crowded field by creating localized brands that evoke a sense of community and place, similar to boutique hotels.”
The process includes the modernization of individual apartment units and the addition of desirable amenities that create high tenant demand. Renovated and sold Calvera investment properties, said Milovich, have historically delivered a 70% increase in rental income from acquisition to sale date.
Accredited investors are invited to attend a 30-minute online Q&A regarding Calvera’s Multifamily Transformation Fund (CPMP III, LP) on Wednesday, September 25 at 11 am PST, a valuable opportunity to ask questions and discuss Fund details with Managing Principals Brian Chuck, Brian Milovich, and David Saxe. A complimentary Fund Brief is available at http://www.calverapartners.com/fund3.
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SOURCE: Calvera Partners