INFORMATION FAILURE Economic Dis-Locations Continue > leading Indicators from taking a look at the balance sheets May.15 -- Mohamed El-Erian, chief economic adviser at Allianz and a Bloomberg Opinion columnist, discusses the Federal Reserve's stimulus efforts, the impact of the coronavirus pandemic on airlines and restaurants, and corporate debt. He speaks with Bloomberg’s Jonathan Ferro on "Bloomberg The Open." His opinions are his own.
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•May 15, 2020
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May.15 -- Lawrence H. Summers, former U.S. Treasury Secretary, warns that there is more financial strain, as individuals and businesses run out
May.15 -- Lawrence H. Summers, former U.S. Treasury Secretary, warns that there is more financial strain, as individuals and businesses run out of cash reserves.
He also predicts that lending will also decline, creating a downward
spiral. He joins host David Westin for an exclusive take on "Bloomberg Wall Street Week."
More than 3 hours of a multi-screen broadcast where there's a lot of 'fudging' and foggy blah-blah-blah, but with some important substance: 17 minutes in there's a good question that finishes discussion on Monday's meetings.
THIS YEAR THERE WILL BE NO AIRING OF DEPARTMENT BUDGETS
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Here's the story by Gary Nelson written for public consumption: East Valley Tribune
Plans for a world-class concert hall and music-education campus in downtown Mesa have taken a major detour after a city panel cleared the way for commercial-residential project on the site.
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Bob Worsley, a former state senator, said fundraising has been a challenge.
“It’s been very difficult to raise the $200 million to build Consolari,” Worsley told the Tribune. “It will take a lot more time and effort.”
“There are several other locations we are considering as alternatives that would be wonderful in downtown Mesa for such a facility,” he added.
“We’re also working with ASU, with their new campus, and exploring what the future might hold for acoustic concert halls as the world changes and becomes more digital,” Worsley said, adding:
“It may become something different than what we had anticipated and what we would have built the last six or seven years, with new technology and virtual reality.”
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The project originally had been proposed for 10 acres formerly occupied for decades by the Brown & Brown Chevrolet dealership, just east of the Mesa Arts Center.
But that site now is on track to become a development that could add as many as 350 units to the already booming downtown housing market.
The concert hall, named Consolari, was proposed in 2013 by Mesa resident Christi Worsley as not only a concert venue but also as a music-education center with ties to New York City’s Lincoln Center and local school systems.
There also were discussions of a research component in hopes of harnessing music to combat autism, dementia and other ailments.
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This rendering of the proposed concert hall in downtown Mesa projected an eye-popping design that would have complimented the equally visually impressive Mesa Arts Center.
Way back when nothing was known to the public about the behind-the-scenes real estate grab on Main Street that took over eight somewhat shabby commercial properties on Main Street, Hizzoner John Giles and then AZ State Senator Bob Worsley were making plans. Apparently with some "insider information" _________________________________________________________________
Will $600K do it? "Despite the economic turbulence swirling around Coronavirus chaos, Arizona- based real estate investment firmCaliberis forging a path forward and opens investing to the public for the first time in its 12-year history, which in short order has already attracted more than $600,000 in new capital. . . " Opening image above: “It may seem counter-intuitive to continue with the offering with all the unrelated events happening in our community, but that is exactly when smart investors move forward,” Caliber CEO Chris Loeffler says. “Remember that Caliber was born out of the uncertainty and calamity of the 2008-09 crash, and as painful as it was, we are also proud that we were able to build wealth for our customers while saving properties and helping rebuild neighborhoods along the way. . . ." Company co-founders Chris Loeffler and Jennifer Schrader in February made a presentation and soft rollout of the raise to investors, local dignitaries and other stakeholders, but went all-in once their online portal was ready to accommodate investor transactions. At the same time, as the scale of the current health crisis took shape, Caliber proactively donated excess hotel room capacity from its portfolio to assist frontline medical teams and began to assess current and future real estate holdings. REAL ESTATE| 19 hours ago |AZRE
INFORMATION PLEASE: To qualify and be eligible as 'Opportunity Zones' OZ certain criteria are required. They sound nothing like the words vibrant and exciting used by city officials to describe what used-to-be the Central Business District before the 1970's: low income, chronically poor, blighted, neglected and under-developed PRESS RELEASE
Caliber and Habitat Metro buy eight Arizona buildings for $7.5M
SCOTTSDALE, Ariz.–(BUSINESS WIRE)–Caliber – The Wealth Development Company, a real estate investment, development and management firm, and project partner, Habitat Metro, have purchased eight downtown buildings for $7.5 million on Main Street in Mesa, Arizona. (See other posts on this blog for more details) Caliber’s $7.625 million purchase consists of eight historic buildings along Main Street between Country Club Drive and Center Street.
Investment in, and re-development plans for, the nearly 100,000 square feet of historic urban buildings are important project components to the economic strengthening and downtown transformation efforts of Arizona’s third largest city. Caliber Development, a subsidiary of Caliber – The Wealth Development Company, will serve as design-general contractor. Initial concepts for revitalization include, among others, a rooftop restaurant on The Newberry building. According to Roy Bade, Executive Vice President of Commercial Acquisitions and Development, “Caliber is proud to play a part in this important project for the city of Mesa. We’re currently working on restoration plans with prospective new tenants to renew the energy and excitement of these underutilized historic buildings.” He added, “The retail and commercial concepts under review including restaurants, office space, andfamily/entertainment venues will bring vitality and support the influx of residents and visitors to the city’s urban core.” The eight-building acquisition was purchased with the CaliberDiversified Opportunity Fund II, LP (the “Fund”). The Fund offers accredited investors and registered investment advisors (RIAs) direct access to invest in “middle market” U.S. commercial real estate assets that can deliver attractive risk-adjusted return through a combination of current income and capital appreciation.
(Information from https://www.pehub.com ________________________________________________________________________________ Currently, Schrader says there isn’t a whole lot to do in Downtown Mesa. Caliber wants to add options to the area through its redeveloped properties and create a setting where visitors will want to spend an entire day in Downtown Mesa.
“I hope people really fall in love with the community again,” Schrader says. “Mesa has an opportunity to really create a good family setting, somewhere where people will want to raise their kids, will want to spend time and not be so transient anymore.” Blogger Note: Hmmm... Students are transients
“By luck and by chance and a lot of hard work, this Downtown Mesa is what people want,”Giles says.
“We set this stage now, for creating this environment people want.” Blogger Note:Right...huh? Just like he 'set the stage' for this bogus charade and privately-funded $500,000++ bogus Public Relations campaign that turned into a major screw-up radically transforming Downtown Mesa into a satellite ASU campus???
Giles says it’s great to see private investment from Caliber that will help further transform the Downtown Mesa area, making it more attractive for future employers and private investment.
Here's the Punchine: Caliber’s developments could also bolster Mesa’s efforts of bringing ASU into Downtown Mesa as well, Giles says. He says economic developers have to make areas around universities attractive for students, and public investment on things like the light rail and the Mesa Arts Center are one part of that.
“We also need the business community infrastructure to create an environment that’s welcoming and attractive for people,”Giles says.
Caliber will create these attractive environments as it brings the historic vibe back to Downtown Mesa. All eight of the buildings Caliber purchased were built between 1910 and 1954.
The purchased buildings have a lot of character,???
Bade says Caliber is currently working on getting six to eight tenants to move into the buildings, and then another three to six months would be needed for tenant improvements.
“Our goal here is for people to want to stay in downtown,” Bade says. “They don’t want to come here for breakfast or lunch. They want to stay here, live here, make it their home in downtown, versus a place to visit.”
An aerial view shows the buildings that Caliber, The Wealth Development Company purchased and will redevelop in Mesa. They are outlined in red.
The Caliber Diversified Opportunity Fund II, LP exists to produce income and capital gains that pass through to investors through purchasing assets or land at potentially attractive prices, developing those assets with in-house expertise, and managing each asset to its full potential. The Caliber Diversified Opportunity Fund II, LP allows investors diversify their investment across multiple properties while also allowing access to assets that are much larger than they could purchase individually. Website: http://caliberdiversified.com/ Facebook: https://www.facebook.com/CaliberCompa... Instagram: https://www.instagram.com/calibercomp... Linkedin: https://www.linkedin.com/company/caliber
“We are deeply grateful for the continued support of our investors who we work diligently for to provide the best returns,” said Chris Loeffler, co-founder and CEO of Caliber. “Providing our clients with insider-level access to secure commercial investments that offer superior risk-adjusted returns and growth potential is the ...
Caliber – The Wealth Development Company today announced the launch of a $100 Million real estate fund, the Caliber Diversified Opportunity Fund II, LP (the “Fund”). The Fund will invest in “middle market” U.S. commercial real estate assets that can deliver attractive risk-adjusted return through a combination of current ...
Mar 1, 2018 - Bob Worsley pleaded with the Council to protect the speculative investments he made in the area based on the ASU scheme. .... On the same day as the Council meeting, Caliber Wealth DevelopmentCompany, “a real estate investment, development and management firm, and project partner, Habitat ...
Mesa’s ASU Project Needed To Make Good On Worsley’s “Bet”
Prior to the vote, with former congressman and ASU lobbyist Matt Salmon sitting behind him, Sen. Bob Worsley pleaded with the Council to protect the speculative investments he made in the area based on the ASU scheme.
“My wife and I have been meeting with people all over the Valley,”said Worsley. “Just today my wife met two people who want to invest in Mesa. Last week, we met with wealthy people from Paradise Valley who want to invest in downtown Mesa based on what they hear is happening. Speaking of dollars – hard dollars, we – the group I am invested with – we have invested over $20 million already on a bet that downtown Mesa is ready for what’s next.” Worsley concluded, “I just wanted to say one thing; we need this investment in ASU. We need this center in downtown Mesa.” CH Mesa Holdings was registered on June 27, 2017 in Delaware. Maricopa County Recorder documents shows that CH Mesa Holdings, LLC, a registered limited liability corporation (File Number: 6458344) filed deeds for the following properties:
All of the above properties show a mailing address of 4320 E Brown Road, STE 110, Mesa, AZ 85205. Lyons Development LLC shares the Brown Road address with CH Mesa Holdings, LLC.
According to the Arizona Corporation Commission, as of 2017, Worsley has been registered as a member of Lyons Development LLC. Lyons Development LLC registered the following entities in 2017:
