"We are excited to establish a presence in DFW, a market that we have been tracking for some time now. In Saddlehorn, we are acquiring a solid asset at an attractive basis with strong in-place cash flow and value creation potential," said Calvera Managing Principal Brian Chuck. "We waited patiently for much of the past two years as values first peaked in 2021 and then rationalized as interest rates increased. As a result, we're able to buy today at a healthy discount to pricing from a year ago in a city that is the fastest growing city in America."
Saddlehorn Vista represents the fourth and final investment by the Multifamily Transformation Fund. Including Saddlehorn Vista, the fund has acquired assets in Austin and Fort Worth, TX, Carrboro (Chapel Hill), NC, and Oakland, CA, with a total capitalization of approximately $113 million. With the current fund now fully invested, Calvera is focused on its recently launched fund, The Calvera Income and Growth Fund. The new fund is structured as a perpetual "evergreen" investment vehicle allowing Calvera to take a long-term approach to multifamily investment opportunities.
ABOUT CALVERA PARTNERS: 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 where they were involved in 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 representing approximately 1,200 apartment units in four states and $170 million of value. For more information about Calvera Partners, call 844.322.7900 or visit www.calverapartners.com