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Caliber (NASDAQ: CWD), a real estate investor, developer, and manager, announced today the successful closing of a $22.5 million refinance for the DoubleTree by Hilton Hotel in Tucson, Arizona. The property is held within Caliber’s Tax-Advantaged Opportunity Zone Fund. Citi provided the funding and Arriba Capital served as the financial advisor on the cash-out refinance.

Proceeds from the transaction will be used to further strengthen the asset and support reinvestment across the Fund’s portfolio, advancing ongoing growth and value creation within Caliber’s Opportunity Zone strategy.