Press Release, October 29, 2018

CALCAP Closes Acquisition of SFR Portfolio in Austin TX

 

For Immediate Release:

 

CALCAP ADVISORS ANNOUNCES SFR PORTFOLIO ACQUISITION

Enters Austin, TX market

Pasadena, CA (December 20, 2018) – CALCAP Advisors recently purchased a portfolio of single family homes in the greater Austin metropolitan area.  The 33-home portfolio was 94% leased on the closing date, November 8, 2018. The seller was a local investor based in Austin.

“This portfolio offered us an opportunity to enter the Austin housing market, which U.S. News & World Report ranked #1 as the best place to live in the U.S. for two years in a row”, stated Edward Aloe, President & CEO of CALCAP Advisors.   The portfolio’s greatest concentration is in the city of Austin, but neighboring communities such as Round Rock, Pflugerville, Hutto, and Cedar Park were also represented.  The properties were constructed between 1973 to 2013, with a median year built of 2005.  The portfolio consists of 15 four-bedroom homes, 17 three-bedroom homes, and 1 two-bedroom home, with a 1,600 square foot average size.

“Home ownership rates have continued to decline from a high of 69% in 2006 to 63% today, as Millennials (those between 18-35 years of age) delay marriage and kids”, Aloe said.   “Single family homes present an opportunity to attract highly qualified residents who desire a yard and more space than multifamily properties, while retaining lifestyle flexibility and minimizing monthly housing expenses.  We believe that single family home investment is an emerging asset class that will continue to grow as institutional investors realize the potential for stability, cash flow and appreciation.”

CALCAP Advisors is continuing to source single-family portfolios, as well as multi-family properties, and senior living/healthcare facilities.  The Company has its own in-house property management firm, CALCAP Properties.   “We’re aggressively seeking further investment opportunities meeting our criteria in metropolitan areas throughout the western U.S.”, stated Aloe.

 

About CALCAP

California Capital Real Estate Advisors, Inc., and its affiliate entities (CALCAP Asset Management I, CALCAP Properties, CALCAP Lending, and CALCAP Senior Healthcare I, collectively known as “CALCAP”), is a California based investment company founded and 2008 and headquartered in Pasadena, California. The Company sponsors alternative real estate investment opportunities focused on demographically driven housing. CALCAP has been able to consistently provide both individual and institutional investors with outstanding returns over the last 10 years. The Company’s core strategies look to actively create alpha for investors while managing risk. CALCAP currently has over $250mm in Assets Under Management. To learn more visit www.calcapadvisors.com.

Social Mission

CALCAP has created the CALCAP CARES program to encourage employees to find a way to give back to the neighborhoods where we invest. CALCAP has created “GiveTime4Autism” as its initial program which will allow employees the ability to donate unused vacation and sick days for a very worthy cause.

For more information please contact Susan Rangel at 626-208-8237 or e mail investorrelations@calcapadvisors.com for more information.

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