ExpansionApr 22, 2026, 07:18 AM
CaliberCos advances 3 Hyatt Studios projects; targets 20%+ IRR
AI Summary
CaliberCos Inc. announced the advancement of three Hyatt Studios hospitality projects across high-conviction markets: Steamboat Springs, CO; Riverwalk/Scottsdale, AZ; and Georgetown, TX. The Steamboat Springs project has secured acquisition and construction financing in April 2026 and is expected to break ground in Q2 2026, targeting an opening in Q3/Q4 2027. This initiative aims to capitalize on supply-constrained markets and growing demand for extended-stay hospitality, with all three projects expected to be active within the next two years. The company targets levered IRRs in the low-to-mid-20% range and equity multiples of 2.3x–2.6x over a 6-year hold.
Key Highlights
- Advancing 3 Hyatt Studios projects in Steamboat Springs, CO; Riverwalk/Scottsdale, AZ; and Georgetown, TX.
- Steamboat Springs project closed financing in April 2026, with groundbreaking expected in Q2 2026.
- Targeted opening for Steamboat Springs is Q3/Q4 2027, with others following sequentially.
- Aims for targeted levered IRRs in the low-to-mid-20% range.
- Targeted equity multiples of approximately 2.3x–2.6x over a 6-year hold.