256-acre Villages at Johnstown to further invigorate economic growth with planned industrial, retail and commercial development along with affordable housing
Scottsdale, Ariz. (September 6, 2017) – Caliber – The Wealth Development Company, a real estate investment, development and management firm, and project partner, John Rosso with Westar Development, have acquired a 256-acre land parcel for mixed-use development in Johnstown, Colorado, a rapidly growing city on Interstate 25 just 45 minutes north of Denver. Ideally situated in the heart of northern Colorado, the planned project, currently called Villages at Johnstown, will transform the undeveloped land into a dynamic community boasting industrial, commercial (hotel, retail gas stations, office and medical) and residential development, appealing to businesses, residents and visitors. Caliber Development, a subsidiary of Caliber – The Wealth Development Company, will serve as design-builder. The multi-faceted project marks Caliber’s regional expansion and first major new development outside of Arizona.
Leading the project for Caliber Development is Executive Vice President and Fund Manager, Roy Bade. “We’re thrilled to move forward with the Villages of Johnstown and collaborate with city officials to create a plan that will deliver an iconic community development.” He added, “We’re eager to begin integrating with residents and businesses to bring something truly special to the area and to generate returns for Caliber’s accredited investors.”
The multi-stage development plans to commence with an approx. 100-acre industrial park. The Colorado Department of Transportation is expanding the I-25 freeway infrastructure from 2 to 3 lanes in each direction. Once the highway improvement project is complete, the commercial and retail component will begin and address an assortment of uses including hotel, gas stations, office, entertainment and medical. The final phase is the residential component that will aim to satisfy the demand for moderate and middle-income multi-family housing and residential housing.
The project is located at the southeast corner of I-25 and the Freedom Parkway (Hwy Road 402). Johnstown’s proximity near Loveland, Longmont, Greeley, Fort Collins and Denver, one of the U.S.’s Fastest Growing Cities, is quickly becoming a sought after location for commercial and residential growth.
The land was purchased with Westar, in partnership with the Caliber Diversified Opportunity Fund II, LP (the “Fund”) that invests in “middle market” U.S. commercial real estate assets that can deliver attractive risk-adjusted return through a combination of current income and capital appreciation.
Chris Loeffler, CEO and Co-Founder of Caliber – The Wealth Development Company said, “Caliber’s move into the fine state of Colorado fits our business plan to offer accredited investors access to hand selected projects in growth markets.” He added, “In acquiring these 256 acres and working hand in hand with Johnstown local government, the Colorado Department of Transportation, and stakeholders in the community, we intend to make a long-term commitment to Northern Colorado.
Financial terms of the transaction were not released.
Through investments of hundreds of Caliber private accredited investors and RIAs, the Company has successfully repositioned over $300 million in real estate assets. In 2016, Caliber’s asset acquisitions and redevelopment projects earned the Company recognition as the Greater Phoenix Chamber of Commerce Economic Driver Award.
Individuals interested in the Caliber Diversified Opportunity Fund II, LP can call 480-295-7600 or email Invest@caliberco.com.
About Caliber – The Wealth Development Company
Caliber leads the market in providing individual accredited investors and registered investment advisors with well-structured alternatives to traditional investments. The Company builds wealth by forming and managing real estate private equity investments, either through individual assets or multi-asset funds. The Company offers an approachable, full-service investment experience with more than 600 team members working to care for over $250 million (assets under management) in commercial, residential, multi-family, self-storage and hospitality real estate in AZ, NV, CO and AK. Comprised of 5 business units including Investment*, Construction & Development, Property Management, *Brokerage and Hospitality, Caliber’s vertical integration of support services delivers a unique and efficient 360º approach to investing in real estate. The Company is headquartered in Scottsdale, AZ with business operations focused throughout the greater Southwest region. www.CaliberCo.com.
Note to Investors
*This press release is provided solely for information purposes and does not constitute legal or investment advice. This is neither an offer to sell nor a solicitation of an offer to buy securities. While we endeavor to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy or reliability of the data and summaries contained in this press release or the suitability of any separate offering for investors. There are risks associated with any investment. In making an investment decision, investors must rely on their own examination of the company they wish to invest in including the merits and risk involved. Any forward looking statement speaks only as of the date on which such statement is made, and we undertake no obligation to update any forward looking statement to reflect events or circumstances after the date on which such statement is made. **Please contact Caliber directly at 480-295-7600 for further information. *