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CaliberCos Inc. Announces $4.6 Million Sale of 24-7 Automated Storage Facility

Author

Slice of Real Estate Team
July 08, 2024

Key Highlights:

  • CaliberCos Inc. (NASDAQ: CWD) sells 24-7 Automated Storage for $4.6 million.

  • Facility located at 1040 North VIP Blvd., Casa Grande, Ariz. with 348 units.

  • Purchased by SSF MP Investments LLC.

  • Facility has 83% occupancy and is in a rapidly growing area.

  • Transaction frees up capital for new investments.

Source (Business Wire)

Notable Quote:

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"Our investment in this facility and subsequent sale is another example of Caliber’s ability to identify strategic opportunities that create value for our investors. We are pleased to bring this transaction to a close, which unlocks capital to potentially invest in new assets at a time when deal volume is low.”

Chris Loeffler, CEO at Caliber

Our Take:

CaliberCos Inc.'s recent sale of the 24-7 Automated Storage facility underscores its strategic prowess in real estate investment and management. The transaction not only showcases Caliber's ability to add significant value to its portfolio but also reflects its strategic foresight in capitalizing on growth opportunities in rapidly developing areas. By reallocating capital from this sale, Caliber is well-positioned to explore and invest in new assets, enhancing its potential for continued growth despite the current low deal volume in the market. This move aligns with Caliber’s commitment to creating value for its investors across varying market conditions.