Calare Properties
Calare Properties is a Framingham, MA-based real estate investment manager founded in 2003 that acquires, repositions, and manages warehouse, manufacturing, research, and flex/office properties for individual and institutional investors, primarily in the Northeast US.
- Company typePrivate
- Founded2003
- HeadquartersFramingham, United States
- Headcount11–50
- GTM typeB2B
- OfferingServices
What Calare Properties does
Calare Properties is a privately held real estate investment manager and operator founded in 2003 by William L. Manley and headquartered in Framingham, Massachusetts. The firm acquires, repositions, and develops warehouse, manufacturing, research, and flex/office commercial real estate assets, primarily in the Northeast United States, with a growing footprint into North Carolina, South Carolina, Maryland, and New Jersey. Since inception, Calare has led the acquisition of over 20 million square feet of properties representing approximately $1.2 billion in real estate transactions executed through funds, direct deals, and a multi-asset portfolio structure.
The company's core offerings are (i) full-service investment management for individual and institutional investors, spanning acquisition, asset management, leasing, and property management via an integrated in-house operating platform, and (ii) a Sale Leaseback Program that allows business owners to monetize owned real estate while remaining in place as tenants. Calare typically invests $10-50 million per transaction with 3-5 year value-add horizons, targets both income-focused (stable cash flow) and growth-focused (operationally challenged, undervalued) assets, and capitalizes each deal with co-invested capital alongside investor partners to maintain alignment.
Calare's revenue model combines recurring asset management fees on managed capital, transaction fees on acquisitions and dispositions, rental income on long-held single-tenant net lease assets, and fees from sale-leaseback originations. Distribution is driven by a dedicated investor portal, direct relationships with equity partners, and an extensive commercial real estate broker network that includes JLL, CBRE, Cushman & Wakefield, Newmark, and The Boulos Company. The firm employs 11-50 people and maintains a flat, owner-operator leadership structure under Founder/CEO/CIO William L. Manley, COO Robert G. Flynn, CFO Mark B. Shapiro, Managing Director Charles Nolfi, and Co-CIO Todd Barclay.
Calare Properties firmographics
Firmographics- Name
- Calare Properties
- Legal name
- Calare Properties, Inc.
- Website
- https://calare.com
- Company type
- Private
- Founded year
- 2003
- Operating status
- Operating
- Headcount range
- 11–50 employees
- Short description
- Calare Properties is a Framingham, MA-based real estate investment manager founded in 2003 that acquires, repositions, and manages warehouse, manufacturing, research, and flex/office properties for individual and institutional investors, primarily in the Northeast US.
- Ownership category
- akta.pro rank
Calare Properties industry classification
Industry- Product category
- Commercial Real Estate Investment Management
- NAICS
- Nonresidential Property Managers (531312), Lessors of Nonresidential Buildings (except Miniwarehouses) (531120), Real Estate Property Managers (53131)
- SIC
- Real Estate Agents & Managers (For Others) (6531), Real Estate Dealers (For Their Own Account) (6532), Operators Of Nonresidential Buildings (6512)
- akta.pro primary industry
- Commercial Real Estate Asset Management (BPAJAMAB)
Keywords
Where Calare Properties is headquartered
LocationHeadquarters
- HQ city
- Framingham
- HQ country
- United States
- HQ region
- North America
Offices1 record
Markets served
Calare Properties business model
Business model- GTM type
- B2B
- Offering type
- Services
- Cost components
- Personnel, Operations, Supply Chain, Marketing or Sales, Others
Revenue model
- Asset Management Services: Full-service asset management for warehouse, manufacturing, research and flex/office properties. The firm provides real-time, day-to-day oversight for each investment from acquisition through disposition.
- Property Acquisition and Disposition: Calare acquires properties through funds, direct deals and multi-asset portfolio structures, executing well-defined business plans to create value before disposition.
- Lease Management: Property leasing and tenant management services as part of their fully integrated operating platform.
- Sale Leaseback Program: Acquires commercial properties from owners who simultaneously become tenants through long-term leaseback arrangements.
Pricing tiers
| Model | Billing | Price |
|---|---|---|
| Other | Multi-year contract | Custom investment structures for individual and institutional investors |
Go-to-market motion3 records
Distribution channels4 records
Marketing channels6 records
Calare Properties product offering
Product offeringCore offering
Calare Properties is a real estate investment manager and operator that acquires, repositions, develops, and manages warehouse, manufacturing, research, and flex/office commercial properties, primarily in the Northeastern United States. It deploys capital through funds, direct deals, and multi-asset portfolios on behalf of individual and institutional investors, and runs a Sale Leaseback Program that allows business owners to sell their real estate to Calare while continuing as tenants under long-term leases.
Product overview
Calare Properties operates as a unified real estate investment management platform offering a Sale Leaseback Program alongside comprehensive investment management, asset management, leasing, and property management services. The company acquires and manages warehouse, manufacturing, research, and flex/office commercial real estate assets primarily in the Northeastern United States. Their integrated operating platform provides end-to-end capabilities from acquisition through disposition for individual and institutional investors.
Differentiator
Problem solved
Functional benefit
Quantifiable outcome
- Over 20 million sq. ft. of properties acquired representing $1.2 billion in transactions since inception in 2003
- +2 more outcomes
Companies that use Calare Properties
Customer profileNamed customers6 records
Segments3 records
Ideal customer profiles3 records
Calare Properties technology and API
TechnologyTechnology focussed No
API detail
- Has API
- No
- API docs
- API detail
Core technology
AI maturity
App detail
Calare Properties partnerships and signals
Strategic signalPartnerships
Six partnerships are on record, tiered core, major and minor.
- MACOM Technology Solutions Holdings, Inc.coreMajor long-term tenant partner with 12-year absolute triple-net lease for 3028 E Cornwallis Road in Research Triangle Park, NC (183,700 sq. ft. tech manufacturing facility). Also partner at 100 Chelmsford Street and 144 Chelmsford Street, Lowell, MA under 20-year leases where Calare developed the corporate campus.
- NECI (Industrial Automation Solutions)coreLong-term corporate headquarters tenant at 325 Foxborough Blvd. with 12-year lease. NECI serves life sciences, power, food & beverage, and chemical sectors with automation and digital transformation solutions. Calare completed extensive redevelopment for NECI's ~400+ employees.
- JLL (Jones Lang LaSalle)majorCommercial real estate broker representing Calare in multiple transactions including the sale of 16 Leona Drive (sold for $14,425,000), property leasing at 30 Speen Street, and representation in Salem NH acquisition (JLL team including Tommy Hovey, Mike Restivo, and David Coffman).
- Hackman Capital PartnerscoreJoint venture partnership on 112 Barnum Road, Devens, MA acquisition. Calare and Hackman acquired the 392,000 SF former Evergreen Solar manufacturing facility for $8.3 million and subsequently sold it for $36.05 million. Hackman Capital Partners is a real estate investment and operating company.
- The Boulos CompanyminorCommercial real estate broker representing seller and buyer in 95 Maple Street, Stoneham acquisition. John Meador of The Boulos Company represented both parties.
- ARCO National ConstructionminorDesign-build general contractor for 45 Industrial Park Road, Saco, ME development project (125,000 sq. ft. Class A warehouse facility).
Scale indicators5 records
Recent moves7 records
Expansion highlights6 records
Calare Properties competitors and assessment
Company assessmentBroad incumbents
- Hackman Capital Partners: Industrial-focused private equity real estate operator (Ethan Lovett); a documented JV partner of Calare on the 112 Barnum Road deal. Directly comparable as an industrial CRE sponsor applying reposition/lease-up strategies, though typically larger in scale.
- Crow Holdings Industrial: Dallas-based large private industrial real estate sponsor with established institutional fund series. Comparable to Calare for industrial product specialization, value-add acquisitions, and fund-driven investor relationships, though operating at substantially larger scale.
Direct peers
- Dermody Properties: Private industrial real estate investment manager focused on logistics, distribution, and manufacturing facilities across the U.S. Closely comparable to Calare in product type (warehouse/manufacturing), sale-leaseback orientation, and institutional investor base, though with broader national reach.
- Cabot Properties: Industrial-focused private REIT sponsor targeting high-throughput distribution and infill industrial assets. Comparable to Calare for its specialization in Northeast U.S. industrial, value-add repositioning, and similar deal-size band ($10-50M range).
- Jumbo Capital Management: Boston-area private industrial real estate investor that purchased a Calare industrial portfolio in 2017. Direct competitor in the New England value-add industrial space, with overlapping brokers and likely investor relationships.
- KS Partners: Northeast-based private industrial/flex real estate investment and operating firm. Relevant because Todd Barclay (now Calare Co-CIO) previously ran acquisitions there; strong competitive overlap in product type, geography, and acquisition strategy.
- New Boston Real Estate Fund: Boston-based institutional private equity real estate fund manager ($3B+ AUM). Comparable through both business model and personnel — Charles Nolfi (Calare MD) and Todd Barclay both previously worked there — competing for similar Northeast institutional capital.
- CenterPoint Properties: Privately-held industrial REIT and infill logistics/warehouse owner-operator on the East Coast and Chicago. Comparable to Calare in industrial infill focus, sale-leaseback origination, and warehouse/distribution specialization.
- Bulfinch Companies: Greater Boston private commercial real estate investment and operating firm doing office, life science, and industrial across New England. Direct geographic peer to Calare with similar institutional-fund structure and product mix overlap.
- Bridge Industrial: Private industrial real estate operator focused on class-A infill warehouse and distribution development, including Northeast U.S. Comparable to Calare on product type and Northeast geography, though development-led rather than value-add repositioning.
Market position
Strengths5 records
Weaknesses5 records
Competitive moat4 records
Key risks5 records
Key highlights6 records
Customer concentration
Calare Properties social profiles
Digital presenceCalare Properties financial estimates
Financial estimateRevenue estimate
Valuation estimate
Calare Properties leadership team
Management profileNumber of profiles
Profiles15 records
Calare Properties funding detail
Funding detailFunding overview
Funding rounds
Investors
Funding detail is available on the Subscription and Enterprise plan.Contact sales →
Calare Properties M&A and investment
M&A and investmentM&A
Investments
M&A and investment is available on the Subscription and Enterprise plan.Contact sales →
Frequently asked questions about Calare Properties
What does Calare Properties do?
Calare Properties is a real estate investment manager and operator that acquires, repositions, develops, and manages warehouse, manufacturing, research, and flex/office commercial properties, primarily in the Northeastern United States. It deploys capital through funds, direct deals, and multi-asset portfolios on behalf of individual and institutional investors, and runs a Sale Leaseback Program that allows business owners to sell their real estate to Calare while continuing as tenants under long-term leases.
Is Calare Properties a public or private company?
Calare Properties is a private company. It is classified as founder individual operated bootstrapped and is currently operating.
When was Calare Properties founded?
Calare Properties was founded in 2003. It employs 11 to 50 people.
Where is Calare Properties based?
Calare Properties is headquartered in Framingham, United States, in the North America region.
How does Calare Properties make money?
Four revenue lines are on record. Asset Management Services are the primary driver. The others are property Acquisition and Disposition, lease Management and sale Leaseback Program.
Who are Calare Properties's main competitors?
Broad incumbents on record are Hackman Capital Partners and Crow Holdings Industrial. Direct peers are Dermody Properties, Cabot Properties, Jumbo Capital Management, KS Partners, New Boston Real Estate Fund, CenterPoint Properties, Bulfinch Companies and Bridge Industrial.
Does Calare Properties have an API?
No public API is recorded for Calare Properties.
What industry is Calare Properties in?
Calare Properties's product category is Commercial Real Estate Investment Management. Its primary akta.pro industry code is BPAJAMAB, Commercial Real Estate Asset Management. Its NAICS code is 531312 and its SIC code is 6531.