CALCAP Connections                           April 2019

CALCAP's Fund Approaches $50MM in Total Assets 
CALCAP's flagship income fund, the CALCAP Income Fund I, LLC has seen significant growth this year, recently surpassing $45MM in total assets. The Fund was launched in May of 2016 and is designed to produce consistent and stable income by investing primarily in business purpose loans secured by interests in real property. The fund's portfolio at the end of the third quarter reflects our commitment to maintaining a diversified portfolio of high credit quality loans:  
  • Weighted average LTV of 65%
  • Weighted average note rate of 9.88%
  • Weighted average FICO score of 694
Since inception the Fund has generated a 7.04% return to our investors. On a risk adjusted basis we believe this represents an excellent opportunity for investors looking to add some diversity to their overall portfolio.  
If you have any questions or would like to learn more about our Fund please feel free to call me or send an e mail to 
Edward M. Aloe         
President and CEO  
Check Out CALCAP's new website! 

Latest Headlines...

Median rent reaches all-time high 
Rents rise as increased demand takes a bite out of homeownership
Skylar Olsen, Zillow's director of Economic Research, said the data suggests the younger generation is having trouble overcoming the hurdles they face in the path toward homeownership, including securing a down payment, finding an affordable home and qualifying for a loan.  
"These hurdles - combined with potential shifts in preferences and/or a simple delay in the many 'adulting' events like marriage and children that precipitate buying a home - can have the effect of keeping younger, would-be buyers in rental housing for a longer time," Olsen said.
View Article Here  
Recession fears diminish as the nation approaches a Goldilocks economy
This is what experts say Q1's GDP growth means for the nation's economy
"Three-fourths of the NABE Policy Survey panelists expect an economic recession by the end of 2021," said NABE President Kevin Swift, CBE, chief economist at the American Chemistry Council. "While only 10% of panelists expect a recession in 2019, 42% say a recession will happen in 2020, and 25% expect one in 2021."
These economic projections paired with mounting evidence that the nation's housing market was slowing down pointed to the probability of an approaching recession.

View Article Here
Forget owning, renting is becoming the end game for many millennials and baby boomers
"There's no question that apartment living keeps getting better," said Stephanie L. Williams,  president of Bozzuto Management Company. "We've just started to see a slight shift in boomers actually deciding to forgo a mortgage for rent in high-end, highly serviced [properties with lots of amenities,] and do believe that we'll see more. And they're not necessarily moving from the suburbs directly into downtown locations. More likely, they're staying fairly close to home in communities they've known for decades and are opting for nearby town center locations. Millennials, on the other hand, are enamored by the eclectic, energetic urban environment and thus love living downtown close to art, culture and entertainment." 
On the lighter side....
California Capital Real Estate Advisors, Inc., and its affiliate entities (CALCAP Asset Management I & II, CALCAP Properties, CALCAP Lending, and CALCAP Senior Healthcare I, collectively known as "CALCAP"), is a California based investment company founded and 2008 and headquartered in Pasadena, California. The Company sponsors alternative real estate investment opportunities focused on demographically driven housing. CALCAP has been able to consistently provide both individual and institutional investors with outstanding returns over the last 10 years. The Company's core strategies look to actively create alpha for investors while managing risk. CALCAP currently has over $300mm in Assets Under Management. To learn more visit
Social Mission
CALCAP has created the CALCAP CARES program to encourage employees to find a way to give back to the neighborhoods where we invest. CALCAP has created "GiveTime4Autism" as its initial program which will allow employees the ability to donate unused vacation and sick days for a very worthy cause.  

The Sanborn House
65 N. Catalina Avenue   
Pasadena, CA 91106
Edward M. Aloe, President & CEO
(626) 229-9057

Mark A. Mozilo, Principal
(626) 229-9056

12626 High Bluff Drive, Suite 360
San Diego, CA 92130 

Patrick A. Wakeman, Principal
(858) 764-4890

4747 North 7th Street Suite 170
Phoenix, AZ 85014
                                                      Drew Buccino, COO
(602) 419-3381

1309 State Street Suite A
Santa Barbara, CA 93101
Greg Blix
Director of Investor Relations
(805) 896-8500

2603 Main Street, Suite 850
Irvine, CA 92614
Len Israel

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