Case Study
The Stacks
San Jose, CA
Calvera acquired this group of four properties between 2014-2015, just blocks away from San Jose State University. The buildings required significant renovations-beyond cosmetic upgrades-so we reimagined the space into a place where students, graduates, and young tech employees would want to live. Renovations included a clean modern color scheme, Wi-Fi, and a welcoming outdoor lounge with a barbecue grill and bocce ball court. The narrow tall building shapes with vertical linear elements, resembles books on a library shelf also known as "stacks". Because of that and the proximity to SJSU, we named them The Stacks. So, the rebranding was born.
Improvements
- Acquisition: $11,100,000 (December 2014 through October 2015)
- Units: 59 units; 4 properties
- Renovation: $1,100,000
- Results: Sold for combined $18.3 million, a 65% increase over acquisition
Modern exterior color scheme
New branding and signage
Renovated kitchens
CONTACT
SAN FRANCISCO OFFICE:
2 Embarcadero Center, 8th Floor
San Francisco, CA 94111
MINNEAPOLIS OFFICE:
729 Washington Ave N, Suite 600
Minneapolis, MN 55401
Please subscribe me to the Calvera Insider.
GET INSIDER UPDATES
GET INSIDER UPDATES
© 2024 CALVERA PARTNERS
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.