Limited Opportunity! Invest in the Bay Area Rebound LEARN MORE

Simplified access to institutional-quality
multifamily real estate investments.

Simplified access to institutional-quality multifamily real estate investments.

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Historically, multifamily real estate investments deliver high returns with lower risk.1

As the cost of new construction and home ownership continues to rise, income from multifamily properties consistently outpaces inflation.2

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Why investing in multifamily makes sense now.

 

01 MARKET DISTRESS

Rising Interest rates and tighter capital markets have created motivated sellers and attractive entry pricing.

 

02 LIMITED NEW SUPPLY

Deliveries peak in 2025 and taper off, setting up a tighter supply-demand balance into 2026 and beyond.

 

03 REPLACEMENT COSTS

Escalating land, labor, and material costs make new construction uneconomical.

 

04 RENT
GROWTH

Absorption is now outpacing deliveries in target markets, with rent growth expected to accelerate in 2026.

How is our real estate investment strategy different?
We see upside opportunity and practice active ownership.

Here's how we do it:

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    COMPETITIVE BASIS

    Buy at a discount to replacement cost and recent sales comps.

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    TRIAGE AND FIX

    Renovate, address deferred maintenance, and improve operations.

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    AUTHENTIC BRANDING

    Create a unique brand specific to building, market, or neighborhood.

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    REALIZE VALUE

    At stabilization, decide either to sell or refinance the property.

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We invest in communities we believe are poised to thrive.

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Bay Area, Los Angeles, Orange County, San Diego, Seattle, Austin, Dallas, Fort Worth, and Raleigh/Durham.3

Our results on sold investments speak for themselves.

29.0%

net weighted average IRR4

2.14x

net weighted average
multiple4

$220M

in total
acquisitions4

CONTACT US

Download our fund
overview for more details.

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CONTACT
SAN FRANCISCO OFFICE:
182 Howard Street, #328
San Francisco, CA 94105

MINNEAPOLIS OFFICE:
729 Washington Ave N, Suite 600
Minneapolis, MN 55401

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© 2025 CALVERA PARTNERS

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      1. Represents the average annual risk-adjusted return over the previous 25-year period from 1999 to 2024. Past performance is not a guarantee of future results. Source: NCREIF, Bloomberg, and Bureau of Labor Statistics as of 12/31/24. Bubble sizes represent the Sharpe Ratio for each property type—a measure of excess return, above the risk-free rate, per unit of risk for a given property type.
      2. Past performance is not a guarantee of future results. Source: NCREIF and Bureau of Labor Statistics as of 9/30/25.
      3. Calvera will target additional markets on an opportunistic basis.
      4. Average returns include sold properties as of 9/30/25. Average IRR and MOIC are the weighted average of each individual property return. The weighted average net IRR refers to the aggregate, annual, compound internal rate of return on investments, calculated after payment of management fees by applicable investors on a blended basis, carried interest, general fund expenses, and other expenses borne by investors. The weighted average Net MOIC is measured as net asset value, divided by total capital contributions, calculated after payment of applicable management fees, carried interest, general fund expenses, and other expenses borne by investors. Additional information necessary to better understand past performance may be obtained from Calvera upon request. Past performance is not a guarantee of future results.

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