Caldera offers all the services you would expect from a full-time chief investment officer and a supporting acquisition / asset management team:

Strategy and Business Growth
Deal Origination / Sourcing / Structuring
Financial Analysis / Market Research
Transaction, Due Diligence & Legal
Equity Financing (GP & LP)
Debt Financing
Asset Management (ESG Compliance, Institutional Reporting)
Additional Services

If a development project needs, additional services such as predevelopment owner representation, regulatory filing, permitting, bidding and negotiation, construction management and close-out are available and can be custom tailored to Client’s needs

International Family Office with commercial real estate holdings in the US

Select CIO Advisory Assignments

TASK:

Strategy creation to invest approximately $90 million on behalf of Client into New York multifamily & strategy implementation in the form of deal identification, specified due diligence, financial analysis, contract negotiation and structuring, closing and asset management post closing

CALDERA VALUE ADD:

•Utilizing proprietary relationships, Caldera identified several portfolios suitable for Client’s specific 1031 requirements and loan assumption request in a very challenging investment market

•Assembled a top-tier team of 3rd party consultants and attorneys to conduct and lead complex, multifaceted due diligence to assess all risks and mitigation strategies

•Accessing real time information through active market makers, Caldera created institutional quality financial models for each asset with an emphasis on refinancing scenarios given the dislocation in capital markets

•Led a team of attorneys in quantifying rent stabilization related liabilities as well as negotiating appropriate protections with the seller

RESULTS:

•Caldera’s advice led to identifying three portfolios that meet Client’s very specific needs in a difficult market

•Caldera’s analysis and due diligence resulted in accurate valuations of assets considering asset specific, complex risks.

•Working on various CIO assignments in different markets and asset classes, gives Caldera and its clients a real time edge for accurate underwriting and evaluation of risk creating superior risk adjusted investment opportunities.

Us Based Multi Billion $AUM Alternative Investment Manager And Hedge Fund

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TASK:

Strategy creation to craft investment programming for a 2 million square foot, mixed use, multi-phase project owned by Client & strategy implementation in the form of internal & external team leading, investment scenario creation and financial analysis, partnership negotiation and structuring, public / private financing & capital stack study and asset management post construction.

CALDERA VALUE ADD:

• Leading a team of external consultants and lawyers to finalize zoning approval and entitlement processes reflecting the best risk adjusted investment scenarios for the Client while addressing local government and community requirements. • Creating highest and best use investment programming for each phase of the investment ensuring profit maximization. • Crafting innovative financing strategies utilizing public / private incentives and optimized capital stack structuring. • Leveraging proprietary relationships and market knowledge to structure favorable joint venture options for the Client. • Accessing real time information through active market makers and creating highly customized, complex, institutional financial models for various investment / exit scenarios.

RESULTS:

• Caldera’s analysis and due diligence is resulting in accurate valuations of investment options for the Client including next buyer analyses for potential exit scenarios. • Working on various CIO assignments in the same market gives Caldera and its clients a real time edge for accurate underwriting and evaluation of market specific risks creating superior risk adjusted investment opportunities.

International Development & Heavy Construction Company with active, large-scale projects in several countries

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TASK:

Led on behalf of the Client the renegotiation & closing of construction financing options Client has taken over from the existing developer in a very challenging market & restructuring of the joint venture to develop a $120 million, luxury rental project in New York

CALDERA VALUE ADD:

•Played an integral role in evaluation & renegotiation of existing financing termsheets with an emphasis on navigating complexities specific to non-US based investors / developers

•Independently vetted interested lenders to make an informed recommendation on lender capabilities

•Revised financial projections based on real time sub-market data, ran various take-out scenarios based on real time market information relating to debt yield, LTC and DSCR

•Led project management team in revising construction cost estimates, prepared detailed development budgets and presented to lenders

•Created a proprietary requisition model for international developer supplied / imported construction materials to be contributed towards cash equity requirement

RESULTS:

•Caldera’s advice led to the upsizing of existing loan offer as well as further reducing upfront cash equity requirement by using an “imported, owner supplied materials on-site” construction financing model that is often used in international contracting.

•Given the incredibly challenging financing market and added complexities due to Client’s non-US origin, Caldera’s advice is the result of a profound understanding of complex development projects, US financing markets and cross border business needs.

International Conglomerate Client with real estate holdings in New York

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TASK:

Represented and led on behalf of Client the disposition process of a $104,000,000 land sale to an international development firm

CALDERA VALUE ADD:

•Played integral role in interviewing and selecting institutional brokerage firm and supervised their process

•Led the marketing book production process and pre- marketing due diligence processes with third party consultants

•Took an active role in purchase and sale agreement negotiations on behalf of Client working in close collaboration with Client’s attorneys and purchaser’s team

RESULTS:

Caldera’s advice and negotiation led to the land being sold to the right buyer (not the highest bidder) who closed on a timely manner in a challenging market, right before land values decreased significantly in New York

Publicly Traded International Real Estate Client active in the US

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TASK:

Advised Client on a $100,000,000 construction loan origination for a ground up condominium development project

CALDERA VALUE ADD:

•Analyzed various pay-off scenarios by stress testing developer financial model assumptions and creating a customized model for Client they can easily manipulate on their own

•Client model assumptions were provided by real time market information possessed by Caldera

RESULTS:

• Based on Caldera’s realistic analysis, Client was advised not to increase their bid.

• Client eventually did not originate the loan but was extremely satisfied with the thoughtful recommendation from Caldera which potentially saved them from a sub-par investment.

International Real Estate Client active in the US

Select CIO Advisory Assignments

TASK:

Advised Client on a $35,000,000 acquisition bid of a flex industrial / office complex in the Midwest

CALDERA VALUE ADD:

•Created a custom designed office underwriting model from scratch that mimics the complex Argus Enterprise program functionality for multiple tenants including expense reimbursements, lease renewal probabilities, tenant improvement & leasing commission assumptions and various exit / refinance scenarios

•Participated in broker correspondence during bidding process

RESULTS:

•Based on Caldera’s custom-tailored analysis, Client was advised to provide a bid that fits Client’s return expectations, investment horizon & thesis and real time financing market assumptions.

•Client was extremely happy with the timely delivery of a very complex assignment to fit the active deal bid deadline.

Select Past Projects:

615 10th Avenue, Manhattan New York

82 residential condominiums, 38,000 sf of retail (75% preleased to Target), 140,000 total buildable sf Completed in 2021 XIN DEVELOPMENT