Caliber tokenizes three real estate offerings worth up to $85 million

Caliber launched tokenized versions of three real estate offerings on Nov. 4, together representing up to $85 million in offered equity.

The offerings are Caliber-Hyatt Studios Steamboat, Caliber-Hyatt Studios Phoenix/TSMC and the Caliber-HS Feeder Fund, according to Caliber (Nasdaq: CWD), based in Scottsdale, Arizona. They follow PURE Pickleball & Padel, the firm's first tokenization, and extend the same ownership infrastructure to both individual developments and a fund structure.

Investors in the three offerings can choose a tokenized digital ownership certificate or the existing paper certificate. The token is a digital representation held in a digital wallet, while the underlying investment stays an interest in the applicable offering, governed by its offering documents.

For advisors with clients in these deals, the choice changes how a holding is recorded and valued, through Caliber's Automated NAV, rather than what the client owns.

Caliber said tokenization is designed to lower investment management costs for investors and funds. Caliber also said that, with lender rights, investors will be able to borrow against tokenized interests while keeping ownership. Chief Executive Chris Loeffler said in the release that if venues for liquidity emerge, either through borrowing against shares or resale through an exchange, Caliber will have solved for what he called the two most challenging aspects of private real estate investing: lack of a clear view of share value and lack of liquidity.