Caliber

Alternative Asset Managementcaliberco.com

Caliber (Nasdaq: CWD) is a vertically integrated alternative asset manager operating a middle-market commercial real estate platform across the Southwest U.S., managing over $2.9 billion in assets and serving accredited investors, HNW individuals, and RIAs through private funds, hospitality development, and a Chainlink-based digital asset treasury.

Company typePublic
Founded2009
HeadquartersScottsdale, United States
Headcount101–250
GTM typeB2B
OfferingServices

What Caliber does

Caliber (Nasdaq: CWD), founded in 2009 as CaliberCos Inc. and headquartered in Scottsdale, Arizona, operates a vertically integrated alternative asset management platform focused on middle-market commercial real estate (asset values $5M-$50M) across the Southwest United States — primarily Arizona, Colorado, and Texas. The company manages over $2.9 billion in assets under management and development, having raised more than $667 million in equity across its fund offerings. Its core business lines include Caliber Hospitality Trust (CHT) for hotel ownership, Caliber Hospitality Development (CHD, a JV with GIA Hospitality), a Master Development Agreement with Hyatt for up to 15 extended-stay hotels, Caliber Auto Collision (1,800+ service centers), the co-developed PURE Pickleball & Padel venue in Scottsdale, and tax-advantaged products including Qualified Opportunity Zone Funds and a 1031 Exchange Program.

The company targets accredited investors, high net worth individuals, registered investment advisors, family offices, and smaller institutions with investment minimums ranging from $100,000 to $1 million across private funds and syndications. Revenue is generated through asset management fees (recurring), promote income / carried interest on outperformance, capital raising fees, development and construction management fees, and property operating income from owned hospitality and multifamily assets. Caliber also operates a Digital Asset Treasury strategy investing in Chainlink (LINK) tokens (562,535 tokens valued at $6.9M, with 75,000 staked) for blockchain-based real estate tokenization, and has begun exploring AI-enabled fleet services through a May 2026 partnership with Fixico.

As of June 2026, Caliber faces severe financial distress, filing for Chapter 11 bankruptcy protection amid $93.1M of total corporate debt against a market capitalization of approximately $7-8M, a 75-90% stock decline over the prior year, and ongoing CFO and board transitions. Despite near-break-even Q1 2026 platform Adjusted EBITDA and 16% YoY revenue growth, the combination of extreme leverage, equity value destruction, and bankruptcy creates substantial execution risk across its strategic initiatives.

Caliber firmographics

Firmographics

Name: Caliber
Legal name: CaliberCos Inc.
Website: https://caliberco.com
Company type: Public
Founded year: 2009
Operating status: Operating
Headcount range: 101–250 employees
Short description: Caliber (Nasdaq: CWD) is a vertically integrated alternative asset manager operating a middle-market commercial real estate platform across the Southwest U.S., managing over $2.9 billion in assets and serving accredited investors, HNW individuals, and RIAs through private funds, hospitality development, and a Chainlink-based digital asset treasury.
Ownership category
akta.pro rank

Caliber industry classification

Industry

Product category: Alternative Asset Management
NAICS: Other Investment Pools and Funds (5259), Other Financial Vehicles (52599)
SIC: Investors, Nec (6799), Real Estate Investment Trusts (6798), Real Estate (6500)
akta.pro primary industry: Real Estate Fundraising Placement (REPE/REIT/Property Funds) (FSAEALAD)
akta.pro secondary industry: Real Estate Tokenization Platforms (FSADAEAC)

Keywords

Alternative asset management
Commercial real estate investing
Opportunity zone funds
Hospitality real estate development
Digital asset treasury

Where Caliber is headquartered

Location

Headquarters

HQ city: Scottsdale
HQ country: United States
HQ region: North America

Offices2 records

Markets served

Caliber business model

Business model

GTM type: B2B
Offering type: Services
Cost components: Personnel, Operations, Technology or R&D, Marketing or Sales, Infrastructure

Revenue model

Asset Management Fees: Caliber earns asset management fees from managing private equity real estate funds, private syndications, and externally-managed REITs for accredited investors, family offices, and smaller institutions.
Promote Income / Carried Interest: Performance-based compensation earned when investment returns exceed predefined hurdle rates. Investors make first portion of profits; Caliber participates after meeting performance benchmarks.
Capital Raising Fees: Caliber raises capital into private funds and operating business, earning fees from fundraising activities for opportunity zone funds and private placements.
Development & Construction Management: Caliber earns fees for development and construction management services on real estate projects including Hyatt Studios hotels and PURE Pickleball facility.
Property Operating Income: Income from owning and operating hospitality and multifamily real estate assets in middle-market geographies.

Pricing tiers

Model	Billing	Price
Subscription	Annual	Pickleball at Riverwalk Opportunity Zone Fund - Class B Preferred
Subscription	Annual	Caliber Tax Advantaged Opportunity Zone Fund II - Class A Units
Subscription	Annual	Caliber Tax Advantaged Opportunity Zone Fund II - Class B Units
Subscription	Annual	Series AA Cumulative Redeemable Preferred Stock

Go-to-market motion2 records

Distribution channels5 records

Marketing channels7 records

Caliber product offering

Product offering

Core offering

Caliber is a vertically integrated alternative asset manager that builds, buys, renovates, and operates middle-market commercial real estate (hospitality, multifamily, and mixed-use) primarily across Arizona, Colorado, and Texas. The company raises capital from accredited investors, RIAs, and institutions through private equity real estate funds, Qualified Opportunity Zone funds, a Series AA Preferred Stock offering, and a publicly traded equity (Nasdaq: CWD). It also operates a Digital Asset Treasury strategy investing in Chainlink (LINK) tokens to support real estate tokenization initiatives.

Product overview

Caliber is a diversified real estate and digital asset management platform operating as a vertically integrated alternative asset manager. The company manages over $2.9 billion in assets through its core Caliber Real Estate Investment Platform, offering private funds, syndications, and direct investments. Key product lines include Caliber Hospitality Trust (hotel ownership), the Hyatt Studios Development Platform (extended-stay hotels), Caliber Auto Collision (1,800+ repair centers), and PURE Pickleball & Padel (sports entertainment venues). Tax-advantaged products include Qualified Opportunity Zone Funds and Series AA Preferred Stock. The company has expanded into digital assets through its Digital Asset Treasury strategy investing in Chainlink (LINK) tokens for blockchain-based real estate tokenization.

Differentiator

Problem solved

Functional benefit

Brands

Caliber Hospitality Trust (CHT): Hospitality real estate investment trust focused on hotel assets and extended stay properties
Caliber Hospitality Development (CHD)
Caliber Funds
DAT Strategy (Digital Asset Treasury)
SaySo

Products and services

Caliber Real Estate Investment Platform A vertically integrated real estate investment platform managing over $2.9 billion in assets, offering private equity real estate investing through funds, syndications, and direct investments for accredited investors and institutions.
Caliber Hospitality Trust (CHT)
Hyatt Studios Development Platform Multi-market hospitality development platform creating Hyatt Studios extended-stay hotels in high-growth markets (Colorado, Arizona, Texas) under a master development agreement with Hyatt, with assets transitioning into Caliber Hospitality Trust under a forward purchase framework.
Qualified Opportunity Zone Funds Tax-advantaged investment products allowing investors to defer and potentially eliminate capital gains taxes by investing in designated Opportunity Zones, including Caliber Tax Advantaged Opportunity Zone Fund II with 75/25 or 80/20 carry splits.
1031 Exchange Program Program helping investors find ideal 1031 exchange assets for reinvestment while offering sellers a smooth process when selling exchangeable assets.
Series AA Cumulative Redeemable Preferred Stock Preferred stock offering open to accredited and non-accredited individual investors providing steady, predictable income through fixed, cumulative dividends.
Digital Asset Treasury (DAT) Strategy Strategy investing in Chainlink (LINK) tokens combining staking yield with blockchain-based treasury management for real estate fund tokenization, with Caliber holding 562,535 LINK tokens valued at $6.9 million.
QOF Roll-Up Program Program acquiring and consolidating existing Qualified Opportunity Zone funds, providing investors with existing private QOFs a more efficient way to access larger, diversified investments while retaining key tax benefits.
PURE Pickleball & Padel at Riverwalk Co-developed 196,000-square-foot indoor pickleball and padel facility adjacent to Scottsdale, Arizona, featuring 48 courts and positioned as the world's largest indoor venue of its kind, located on Salt River Pima-Maricopa Indian Community.

Quantifiable outcome

$22.1 million in added income generated for Texas through Technician Apprentice Program in 2024
+6 more outcomes

Companies that use Caliber

Customer profile

Named customers5 records

Segments3 records

Ideal customer profiles3 records

Caliber technology and API

Technology

Technology focussed No

API detail

Has API: No
API docs
API detail

Core technology

AI maturity

App detail

Integration3 records

AI capability1 record

Feature3 records

Caliber partnerships and signals

Strategic signal

Partnerships

Seven partnerships are on record, tiered core and major.

FixicocoreStrategic or Co-development Partner · 28 May 2026Fixico, Europe's digital platform for car repair management, partnered with Caliber to introduce a technology-enabled fleet repair solution for U.S. fleet operators. The partnership combines Fixico's AI-powered repair management platform with Caliber's nationwide network of more than 1,800 service centers, enabling faster repair cycle times, intelligent shop matching, and real-time visibility into repair status. Fixico views this expansion into the U.S. market as a defining moment after 12 years operating in Europe with over 15,000 connected repair shops.
GIA HospitalitycoreStrategic or Co-development Partner · 13 May 2025Caliber launched a joint venture called Caliber Hospitality Development (CHD) with GIA Hospitality to focus on acquiring distressed hotel assets and developing extended stay hotels across the U.S. The venture, initially seeded with $2 million, aims to capitalize on opportunities in the hospitality sector through strategic acquisitions and new developments, including Hyatt Studios projects in Arizona and Texas.
Hyatt HotelscoreStrategic or Co-development Partner · 5 May 2025Caliber entered an exclusive Master Development Agreement with Hyatt to build up to 15 Hyatt Studios extended stay hotel locations across five states. Hyatt is directly supporting Caliber's Steamboat Springs project with approximately $1.14 million in brand capital. The agreement marks one of the largest multi-property commitments to Hyatt Studios since the brand was announced in 2023. Caliber's strategy is to develop institutional-quality Hyatt Studios assets that transition into Caliber Hospitality Trust (CHT) under a forward purchase framework.
PURE Pickleball & PadelcoreStrategic or Co-development PartnerCaliber is co-developing PURE Pickleball & Padel, a first-of-its-kind 196,000-square-foot indoor pickleball and padel facility adjacent to Scottsdale, Arizona at Riverwalk on the Salt River Pima-Maricopa Indian Community. The partnership combines Caliber's real estate development expertise with PURE's sports and entertainment platform vision to create the world's largest indoor pickleball and padel venue with 48 courts.
StoneXmajorTechnology or IntegrationCaliber partnered with StoneX for digital asset treasury services to support its LINK token treasury strategy. StoneX provides institutional-grade infrastructure for digital asset management, complementing Caliber's blockchain-based treasury management practices integrated with Chainlink's oracle network.
Chainlink (LINK)coreTechnology or IntegrationCaliber integrated Chainlink's oracle network into its Digital Asset Treasury strategy for real estate tokenization. The company holds 562,535 LINK tokens valued at $6.9 million, has staked 75,000 tokens with Chainlink node operators, and is implementing blockchain strategies across its investment platform to enhance how assets are financed, owned, and accessed.
Tobin & Company SecuritiesmajorChannel Partner/ Reseller/ DistributorSecurities offered through Tobin & Company Securities (Member FINRA/SIPC), providing regulatory-compliant distribution of Caliber's private placement offerings to accredited investors.

Scale indicators14 records

Recent moves9 records

Expansion highlights6 records

Caliber competitors and assessment

Company assessment

Direct peers

RealtyMogul: Online platform offering private commercial real estate investment opportunities to accredited investors via funds and individual deals. Comparable to Caliber's direct-to-accredited-investor model with online investor portal access and $100K+ minimums.
Fundrise: Real estate investment platform offering diversified private RE funds and individual deals to retail and accredited investors. Comparable in serving non-institutional capital seeking alternative real estate exposure, though Fundrise focuses more on eREITs and individual deal crowdfunding.
CrowdStreet: Commercial real estate investing marketplace for accredited investors, offering individual sponsor-led deals and diversified funds. Direct competitor in the online commercial RE capital-raising space serving RIAs and high-net-worth individuals.
Origin Investments: Private equity real estate investment firm focused on middle-market multifamily and self-storage assets, raising capital from accredited investors. Highly comparable in middle-market focus, fund structure, and investor base.
Trinity Investments: Privately-held real estate investment manager focused on middle-market hospitality and resort assets globally. Comparable in hospitality-focused strategy and middle-market positioning, though larger and privately held.

Broad incumbents

Starwood Property Trust: Publicly-traded mortgage and real estate investment firm (NYSE: STWD) affiliated with Starwood Capital. Comparable as a publicly-listed alternative asset manager with diversified real estate strategies, though significantly larger and broader in scope.
Blackstone Real Estate: Largest global real estate private equity platform with BREIT and BREP funds. Comparable as a real estate asset manager raising capital from HNW and institutional investors, though operating at vastly larger scale with a much broader mandate.
Brookfield Real Estate: Global real estate investment manager within Brookfield Asset Management. Comparable in operating a real estate investment platform for institutional and individual capital, though at multi-hundred-billion AUM scale.

Regional players

Gladstone Land: Publicly-traded REIT (NASDAQ: LAND) focused on farmland real estate, offering small-investor access through public listing. Comparable in offering real estate exposure to retail investors via public markets, though concentrated in agricultural rather than hospitality/multifamily assets.

Emerging players

Medalist Diversified REIT: Small publicly-traded REIT focused on value-add and opportunistic commercial real estate. Comparable in being a small-cap, publicly-listed real estate investment vehicle targeting non-institutional investors, with similar scale and middle-market positioning.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat4 records

Key risks7 records

Key highlights6 records

Customer concentration

Caliber financial estimates

Financial estimate

Revenue estimate

Valuation estimate

Caliber leadership team

Management profile

Number of profiles

Profiles6 records

Caliber subsidiaries and ownership

Company hierarchy

Subsidiaries3 records

Caliber funding detail

Funding detail

Funding overview

Funding rounds3 records

Investors1 record

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

Caliber M&A and investment

M&A and investment

M&A

Investments1 record

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Caliber

What does Caliber do?

Is Caliber a public or private company?

Caliber is a public company. It is classified as public and is currently operating.

When was Caliber founded?

Caliber was founded in 2009. It employs 101 to 250 people.

Where is Caliber based?

Caliber is headquartered in Scottsdale, United States, in the North America region.

How does Caliber make money?

Five revenue lines are on record. Asset Management Fees are the primary driver. The others are promote Income / Carried Interest, capital Raising Fees, development & Construction Management and property Operating Income.

Who are Caliber's main competitors?

Direct peers on record are RealtyMogul, Fundrise, CrowdStreet, Origin Investments and Trinity Investments. Broad incumbents are Starwood Property Trust, Blackstone Real Estate and Brookfield Real Estate. Gladstone Land is listed as a regional player. Medalist Diversified REIT is listed as an emerging player.

Does Caliber have an API?

No public API is recorded for Caliber.

What industry is Caliber in?

Caliber's product category is Alternative Asset Management. Its primary akta.pro industry code is FSAEALAD, Real Estate Fundraising Placement (REPE/REIT/Property Funds), with a secondary code of FSADAEAC, Real Estate Tokenization Platforms. Its NAICS code is 5259 and its SIC code is 6799.