New Investment in Caliber Investments LP (“Caliber”)
CCI Corpfin Capital Inc. is pleased to report that they have closed on a $400,000 cash investment in Caliber Investments LP from it’s CCI Corpfin Capital Special Opportunity Fund 1 LP. This equates to about 10% of the outstanding units of Caliber Investments LP. This allows a direct investment in the portfolio of three retail assets totaling 252,000 square feet, two of which were closed on December 31, 2021 with one more asset expected to close in the first quarter of 2022.
McCOR Management was crucial to our interest in investing in this portfolio as they sourced, underwrote and found the partnership investors for the transaction. The Fund is pleased with this acquisition which will produce superior returns as leases come due over the next few years and won't require the same heavy lifting that some of the other value add properties that CCI has been involved with.
CCI continues to work on another major transaction, reviewing an LOI that will be submitted on a significant shopping center asset which CCI has identified and of which McCOR have found a suitable Partner for CCI. We expect to have an offer out in January 2022 and hopefully an acceptance on our final underwriting expectations.
For more information about acquisitions and development for CCI Corpfin Capital, please contact:
Gord Wiebe, CEO & Principal
(403) 923-4343