SCOTTSDALE, Ariz.--(BUSINESS WIRE)--Caliber, The Wealth Development Company (Caliber), with the Caliber Distressed Real Estate Income Fund (CDIF, LLC) and its investment partners via GC Square, LLC, today announced the $6.5 Million acquisition of the 4 building, 164-unit apartment building near the NASDAQ listed Grand Canyon University (GCU) at 35th Avenue and Camelback Road. GC Square is now being professionally managed by Caliber Realty Group LLC, a subsidiary of Caliber.
Jennifer Schrader, Caliber’s Chief Operating Officer and Co-Founder notes, “This property is a 3-minute walk to the GCU main campus. With its location and solid construction, it’s a great acquisition for our investors that we feel can produce distributions early next year.”
GC Square’s location boasts easy access to major freeways including I-17 and Hwy 60 as well as the planned expansion of the Phoenix Light Rail. The potential to serve as student housing is compelling.
Property Management led by Caliber’s Tina Good states, “At Caliber, we take an MBA approach to property management which stands for Management best practices, Betterment of the property and Acceleration to increase revenues and investor equity without compromising our core values.”
Caliber Distressed Real Estate Investment Fund (CDIF)
CDIF The Fund has been an active participant and investor in the Arizona market having acquired in whole or in partnership the Hampton Inn & Suites Scottsdale-Riverwalk; Crowne Plaza Phoenix Sky Harbor Airport; Bahia 101 Class-A office development; Baywood Square Professional Park; 167-unit Treehouse Apartments in Tucson; 70-unit Mountain View Square Apartments in Phoenix; 24-7 Automated Self Storage in Henderson, Nevada and the Salmon Falls Resort and Edgewater Inn Restaurant & Marina in Ketchikan, Alaska.
For further information contact Caliber at 480-295-7600 or Invest@caliberco.com.
About Caliber – The Wealth Development Company
Caliber is a diversified real estate investment company that handles all aspects of the real estate investment cycle: Development, Property Management, Real Estate Brokerage and Wealth Development. An Inc. 500 award recipient for fastest U.S. growing private companies, as well as an ACE Award Recipient for the Top 50 Privately Held and Top 50 Fastest growing companies in Arizona, Caliber assists clients in maximizing income through diverse, asset-based investments. www.CaliberCo.com.