We create and cultivate relationships based on a straightforward approach to real estate investment & development.
Our Approach
We provide access.
We have professionalized the investment approach with lucid communications and a process that is consistent and sustainable across market cycles, markets, and asset classes. We offer investors professional managers to oversee the process, allowing them to allocate a portion of their investment portfolio to real estate.
We build trust.
We create and cultivate relationships based on a straightforward approach to real estate investment & development. We identify quality partnerships and provide accurate/direct guidance to earn confidence throughout the lifecycle of every transaction and beyond. Our proven ability to mitigate risk results in higher returns and builds trust among qualified developers & investors.
We partner deliberately.
We take a patient, deliberate approach to investing, conducting due diligence, and leveraging expertise & experience to pursue only the most promising investment opportunities and partnerships. Our principals are invested alongside our partners and our goal is to achieve optimal outcomes and returns for our partners.
Calibogue’s Differentiation for Investors
| Individual Investors Direct Investment With Developer | Calibogue | |
|---|---|---|
| Developer Diversification | Extremely limited and usually confined to personal network | Has completed transactions with a dozen developers, having maintained some relationships for more than a decade. |
| Geographic Diversification | Often concentrated in same market as investor's place of residence | Has a national footprint with developer clients pursuing deals in dozens of states. |
| Asset Class Diversification | Typically follows whatever the asset class focus is of the developers in their personal network | Strategic, based on the fundamentals of market for different product types. Has successfully invested for years across warehouses, net lease retail, grocery anchored shopping centers, apartment developments, and existing apartment repositioning. |
| Capital Reinvestment | Unpredictable and one-off, limiting potential for compound interest | Maintains constant pipeline of opportunities to allow for compounded returns of overall portfolio, as well as balance sheet to help manage capital calls to bridge divestitures and reinvestment. |
| Developer Vetting | Typically either personal relationships or wealth manager referrals with non-industry due diligence capabilities | Interviews dozens of developers per year and hundreds in its history. Performs professionalized due diligence on developer backgrounds, financials, and references. |
| Opportunity Sample Size | Typically very limited and opportunistic | Professionalized sourcing approach, reviewing dozens of projects per month for the sake of comparison with capability to move on a broad range of opportunities. |
| Rights, Controls and Enforcement | None | Institutional-level control rights. Proven track record of contract enforcement. |
| Investment Monitoring and Communication | Disparate forms of developer reporting with no obligations to report | Standardized, institutional-quality reporting. Oversight of developers via monitoring online bank account transaction activity, loan draws, and budget auditing. Construction auditing and oversight by professional engineers. |
| Developer Deal Coinvestment | 0-5% of project equity principal | ~10% of project equity principal |
| Investment Due Diligence | Limited to None | Institutional |
| Pricing | Retail | Wholesale |
| Returns Focus | Individual deal performance, often reflecting outsized isolated performance | Long-term, holistic, and weighted performance focused on benchmarks. |
| Decision-Making | Individual | Manager discretion with substantial pari passu coinvest. |