CaliberCos - CWD STOCK NEWS

Caliber (NASDAQ: CWD) has announced a definitive agreement with Satori Collective to contribute seven hotel properties to Caliber Hospitality Trust (CHT). The transaction, expected to close in early 2025, will increase CHT's portfolio to 22 hotels with a valuation of $530 million. The Satori properties, valued at approximately $120 million, include middle-market full service, select service, and extended stay hotels in the Midwestern and Southern U.S.

Upon closing, Caliber's asset management revenue run rate will increase by $2.4 million, or 42%. The hotels will be operated by Aperture Hotels, focusing on delivering outperforming gross operating profit margins. This contribution expands Caliber's multi-state footprint into markets with unique growth drivers, including proximity to university campuses, sports complexes, and local airports.

Caliber (NASDAQ: CWD), a real estate investor, developer, and manager, has announced a webinar in collaboration with Nasdaq on 'Growing Opportunities in Distressed Commercial Real Estate Assets'. The event is scheduled for Wednesday, Oct. 23 at 8:00 am PT/11:00 am ET.

The webinar will address the shifting U.S. commercial real estate market, which is moving from a development-focused cycle to one marked by distress due to high interest rates, inflation, and market volatility. Panelists will discuss the latest economic data and near-term investment opportunities in the nearly $80 billion of distressed commercial real estate assets across the U.S.

The one-hour interactive session will feature expert speakers including Michael Normyle (U.S. economist for Nasdaq), Chris Loeffler (Caliber CEO and Chairman), Bradley Cosman (Firmwide Chair of Bankruptcy & Restructuring Practice at Perkins Coie), and Lawrence Taylor (President of Taylor Strategy Group).

Caliber (NASDAQ: CWD) has launched its new Qualified Opportunity Zone Fund Roll-Up (QOF Roll-Up) program, offering a solution for investors struggling to realize the full benefits of these complex investment vehicles. The program has completed its first merger, resulting in a $14 million increase in managed capital for Caliber's existing QOF, bringing the total managed capital in Caliber's two QOFs to over $225 million.

The QOF Roll-Up program aims to help investors who have created smaller 'family funds' but face challenges in deploying funds into qualified projects. Caliber, as an early adopter of QOFs, is well-positioned to deploy new QOF capital into potentially attractive projects, particularly in distressed real estate properties.

Caliber's two QOFs, CTAF I and CTAF II, target investments in diversified real estate portfolios across high-growth Southwest U.S. opportunity zones. The company has already earmarked a portion of the new capital for its Canyon development project in Central Phoenix, planning to convert a Class A office building into a multifamily complex.

Caliber (NASDAQ: CWD) reported Q2 2024 results, showing a 60% decrease in total revenue to $8.2 million, primarily due to deconsolidation of certain entities. However, platform revenue increased by 24.9% to $4.2 million, driven by asset management revenue. The company reported a net loss of $4.7 million, or $0.22 per diluted share, an improvement from the $5.7 million loss in Q2 2023. Caliber's Fair Value Assets Under Management grew 4.3% to $773.2 million, while managed capital increased 7.4% to $469.8 million. CEO Chris Loeffler expects to achieve $6.5 million in annualized cost savings and projects positive adjusted EBITDA by Q4 2024 and positive net profit for full-year 2025.

Caliber (NASDAQ: CWD), a real estate investor, developer, and manager, has announced the release of its second quarter 2024 financial results after market close on Monday, August 12, 2024. The company will host a webcast/conference call at 5:00 pm ET on the same day to discuss the results. Investors can access the live earnings call by dialing 1-800-717-1738 (domestic) or 1-646-307-1865 (international).

The webcast will be available on Caliber's investor relations website. A replay of the call will be accessible for 14 days by dialing 1-877-660-6853 (domestic) or 1-201-612-7415 (international) with conference ID 13746521. The news release and presentation materials will also be available on the Investor Relations site under 'Financial Results'.

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.