CaliberCos (CWD) investor relations material

Business overview and strategy

• Operates a 17-year-old real estate asset management platform with $2.6 billion in managed assets, focusing on fee generation and asset-light operations.

• Recently expanded into digital assets, aiming to lead in tokenization of private real estate funds without abandoning its core business.

• Maintains a unique business model, managing both discretionary and single-asset funds, and generates revenue through asset management, performance fees, and asset services.

• Internal fundraising engine leverages relationships with 2,000 families and professional advisors, supporting programmatic capital raising.

• Leadership combines entrepreneurial founders with experienced real estate professionals, enabling effective execution through market cycles.

Financial performance and market positioning

• Balance sheet has improved with reduced debt and increased liquid assets, supporting a return to profitability.

• Issued public guidance for the first time, projecting revenue growth and profitability for the current year.

• Demonstrated resilience and adaptability, shrinking staff after a failed large opportunity to restore stable profitability.

• Revenue streams include asset management fees, carried interest (with $99–100 million off-balance sheet), and asset services.

• Track record includes successful exits from distressed assets, even during market downturns, highlighting operational strength.

Market environment and investment focus

• Specializes in Arizona, Colorado, and Texas, targeting markets growing at twice the national rate.

• Positioned to capitalize on distressed opportunities in multifamily and hospitality sectors due to recent 30% decline in commercial real estate values.

• Acquires distressed multifamily and broken construction projects, as well as hotels at discounts or in supply-constrained markets.

• Business model is difficult to replicate and lacks direct public comparables, with most similar firms remaining private until much larger scale.