Caliber Buys 164-Unit Property Near Grand Canyon University

by Scott Reid

Scottsdale, Ariz. ­— Caliber, with the Caliber Distressed Real Estate Income Fund (CDIF, LLC) and its investment partners via GC Square, have acquired a four-building, 164-unit apartment complex near Grand Canyon University (GCU) in Scottsdale for $6.5 million.

The property will be renamed GC Square, and is now being professionally managed by Caliber Realty Group, a subsidiary of Caliber. Located within walking distance to the GCU campus, Caliber is now evaluating its redevelopment and repositioning opportunities.

GCU is a private, for-profit Christian university purchased by Grand Canyon Education in 2004.

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