Management Team and Advisory Board


Where creativity meets

Calvera is led by Managing Principals Brian Chuck, Brian Milovich, and David Saxe, all of whom previously worked for a ~$30 billion AUM institutional real estate fund manager with over $1 billion of real estate transactions. Through its series of funds and individual acquisitions, Calvera has invested approximately $73 million of investor equity in 15 multifamily real estate transactions in four states representing $170 million of value.1


Brian A. Chuck
Managing Principal

Brian Chuck focuses on the acquisition and investment management of all San Francisco Bay Area real estate assets and future West Coast properties. At CIM Group, he completed over $430 million in real estate and infrastructure investments, financings, and dispositions. Brian also worked in investment banking at Berkshire Capital Securities, specializing in buy-side and-sell-side transactions, valuations, and strategic advisory within the investment management industry. He holds an BA in computer science and Economics from Brown University and an MBA from the Haas School of Business at the University of California, Berkeley.


Brian D. Milovich
Managing Principal

Brian Milovich leads the company’s expansion into national markets and into institutional-sized acquisitions. From the Minneapolis office, Brian also oversees the firm’s staffing. At CIM Group, he completed $1 billion in investments and developments in apartments, condominiums, offices, hotels, gaming, and distressed debt. Prior to CIM, he was a Relationship Manager for Wells Fargo in the Commercial Banking division. Brian has a BS in Business with Distinction from the Carlson School of Management at the University of Minnesota and an MBA from the Haas School of Business at the University of California, Berkeley.


David B. Saxe
Managing Principal

David Saxe focuses on fundraising, investor relations, and corporate marketing. At CIM Group, he completed over $575 million in investments in apartments, condominiums, retail, offices, and hotels. Previously, he was a Senior Market Research Analyst with Equity Office Properties Trust, where he was responsible for analyzing potential acquisitions, dispositions, and developments in major office markets. David graduated cum laude and Phi Beta Kappa with a BA in Economics from Northwestern University and received an MBA from the Haas School of Business at the University of California, Berkeley.


Our advisory board

The Calvera Advisory Board members bring long and deep experience in real estate, investing, business development, and marketing.

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Susan Mirbach

Susan is Co-Manager for KMSB Investments, LLC, an entity investing in small multifamily properties in Utah and Arizona, and in venture funds. Before this, she co-managed 320 Post Road West LLC, focusing on commercial office spaces in Connecticut and Southern California. In addition to her real estate ventures, Susan manages her family's investment portfolio.

Academically, Susan holds a B.S. in International Relations, with honors, from Stanford University and an MBA in International Business from INSEAD, in Fontainebleau France.

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Bill Mirbach

Bill Mirbach manages Mirbach & Co., LLC, a marketing team that does project work. Their clients range in size from Fortune 50 to pre-revenue. Specialties include Direct-to-Consumer, B2B, financial services and real estate, especially HNW and SMB segments. He’s also Co-Manager of KMSB Investments, LLC. Formerly, Bill was CEO of NetLedger, which became NetSuite. He started his career at Procter & Gamble, where he was a Brand Manager.

He has an MBA from Harvard and an AB with honors from Oberlin.


Bob Newman

Bob Newman retired as Aperio Group’s (an investment manager now part of BlackRock) Chief Client Experience Officer in December of 2021. Before joining Aperio, he was Director of BARRA Ventures at BARRA a major provider of portfolio risk analytics to institutional investors. Bob began his 50-year investment career as a portfolio manager with the Harris Bank in Chicago.

Bob holds the Chartered Financial Analyst designation and earned his MBA in Finance and Investments from New York University and an AB from Washington University in St. Louis.

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2 Embarcadero Center, 8th Floor
San Francisco, CA 94111

729 Washington Ave N, Suite 600
Minneapolis, MN 55401




1. Includes the purchase price of sold and unsold investments as of 12/31/23.

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. 

This website is provided for informational purposes only. Nothing contained in this material is an offer or solicitation to buy or sell any security. In addition, (i) any securities offered to investors that respond to any general solicitation or general advertisement made by Calvera, may be sold only to accredited investors; (ii) such securities will be offered in reliance on an exemption from the registration requirements of the Securities Act and such securities offered are not subject to the protections of the Investment Company Act or required to comply with specific disclosure requirements that apply to registration under the Securities Act; (iii) Neither the SEC, nor any state securities regulator, has passed upon the merits of or given its approval to any securities offered by Calvera, the terms of the offering, or the accuracy or completeness of any offering materials or the accuracy or completeness of any of the information or material provided by or through this website; (iv) the securities will be subject to legal restrictions on transfer and resale and investors should not assume they will be able to resell their securities; and (v) investing in securities involves significant risks, and investors should be able to bear the loss of their investment. Please click here for additional important disclosures.