Calvera Targets $30 Million+ in Capital Commitments

resource-thumb_Capital Commitments

David Saxe

Managing Principal, Calvera Partners

Calvera Targets $30 Million+ in Capital Commitments

New Multifamily Transformation Fund Now Open to Accredited Investors

August 14, 2019, San Francisco, CA — Calvera Partners, a leading Bay Area real estate investment firm, has launched its third discretionary private real estate fund, seeking more than $30 million in capital commitments from accredited investors.

Open only to accredited investors, Calvera Partners’ Multifamily Transformation Fund offers an opportunity to invest in underperforming apartment properties with potential for post-renovation gains. The new Fund will leverage the firm’s authentic, investor-first ethos and proven repositioning and branding strategy, a time-tested approach that informs every Calvera transaction and relationship. The Calvera team has produced a weighted average net leveraged IRR of 32.9% and a 2.3x net leveraged multiple on invested capital in each of the prior single-asset investment vehicles sold.

“Our disciplined deal sourcing and underwriting process and localized approach to renovation are unique to Calvera,” said Calvera’s Brian Milovich, “We stand out in a crowded field by creating localized brands that evoke a sense of community and place, similar to boutique hotels.”

The process includes the modernization of individual apartment units and the addition of desirable amenities that create high tenant demand.  Renovated and sold Calvera investment properties, said Milovich, have historically delivered a 70% increase in rental income from acquisition to sale date.

Accredited investors are invited to attend a 30-minute online Q&A regarding Calvera’s Multifamily Transformation Fund (CPMP III, LP) on Wednesday, September 25 at 11 am PST, a valuable opportunity to ask questions and discuss Fund details with Managing Principals Brian Chuck, Brian Milovich, and David Saxe.  A complimentary Fund Brief is available at



Click here for more information on the Calvera Income and Growth Fund.

Or to find out more directly from a member of our Investor Relations team, click here.

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Performance data listed in this website or is otherwise provided by Calvera Partners, LLC, or its affiliates (“Calvera”) with respect to a particular property or project represents past performance calculated for the relevant project and does not purport to reflect the overall performance of any private funds managed by Calvera, which may include other projects, as well as charge additional fees or carried interest, or have additional expenses, which would reduce the overall performance of the project from the perspective of a fund investor. Past performance does not guarantee future results; Current performance may be lower or higher than performance data presented. Calvera is not required by law to follow any standard methodology when calculating and representing performance data; the performance of any of Calvera’s projects may not be directly comparable to the performance of other investment vehicles or funds; and qualified potential investors can contact Calvera Partners for more current performance data of any private funds managed by Calvera. 

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