Lakewood – Real Estate Update
Below is another solid update for the Lakewood apartments in Houston, Texas, which is part of the CalTier Fund 1 portfolio of participating investments. At the end of last quarter, Lakewood was 90.9% occupied and 91.6% pre-leased. While these numbers are very good, the property had several unexpected and abrupt move-outs in Q4 last year. This, paired with the slower leasing of the season, resulted in lower occupancy numbers than would be ideal. However, in response, the team has increased its focus on occupancy and is now seeing positive trends in leasing traffic. The property’s increase in income contributed to ...
APEX – Real Estate Update
Below is a great update for the APEX apartments in Fort Worth, Texas, which is part of the CalTier Fund 1 portfolio of participating assets. Occupancy has remained near 95% since late 2023, and the property management team is working diligently to improve collections. To date, renovations have been completed on 122 of the 152 units (more than 80%). The remaining 30 units are anticipated to be completed by the end of May. The new playground was completed and installed in March. The exterior renovations have also been completed. These included sealing and painting all wood trim to protect it from the elements, ...
A successful asset inspection: Cortland
I recently returned from visiting the Cortland Portfolio asset in Washington DC with my team. This is always one of my favorite parts of the process because you get to experience the full breadth of what the asset has to offer. View the video below: https://vimeo.com/915315851/90cef5971f?share=copy There are two questions I like the team to ask during this process. "Would I live here?" If we get the chance to talk with the tenants; "What do you like about living here?" I am happy to say that we all answered "yes" to question 1 and after talking with the ...
Hickory Point – Newport News, Virginia
We are very happy to announce that CalTier Fund 1, LP has made another participating investment into a multi-family asset with our new partner Ritz Banc Group (RBG). RBG represents another solid partner on the East Coast, specifically in the Virginia/Washington DC region. They have years of experience in Multifamily and know that market extremely well. Check the whole video and learn more about our joint venture with RBG and this extraordinary asset located in Newport News, Virginia. Asset: Hickory Point Apartments Location: Newport News, VA Number of Units: 175 Real Estate Partner: Ritz Banc Group ...
Cortland Portfolio
Exciting news to close out the year! CalTier Fund 1 is under contract for its latest direct acquisition: a beautiful 45-unit portfolio collection of 3 buildings of apartment homes in the highly sought-after Woodley Park neighborhood of Washington, District of Columbia. Our acquisition team has been working on this deal for months and we are excited to now have it under contract. It has been maintained exceptionally well and is in a very desirable area with high barriers to entry. The neighborhood is ranked among the top ten best areas to live in ...
A Strong Year For The Portfolio
Now we are coming close to the end of the year and the holiday season is upon us, I thought you would like to see an end-of-year update on the CalTier Fund 1 portfolio. I just got back from visiting a few of these assets with our team and JV partners, and I am happy to report they are all doing well. I have prepared a short video (about 18 minutes long) where I quickly go through each of the assets in the portfolio. (The video is in chapters so you can skip to an asset) PLAY VIDEO https://vimeo.com/894606116 ...