Calvera Partners is a real estate investment firm focused on apartments in supply-constrained, high barrier-to-entry urban markets. They identify, acquire and reposition underperforming properties that show excellent potential for increased income and value through improvements, creativity and sound management, generating returns for their investors. They were founded in 2010 by three former employees of a large real estate-focused private equity firm where they participated in well over $1 billion in transactions. Their years as institutional investors afford them a level of analysis and perspective uncommon in real estate middle markets. They recognize value that others may overlook and they seek to exploit market inefficiencies that go unnoticed. It’s their belief that certain properties simply attract less investor attention, creating the possibility of stronger returns over time. Their portfolio is well-positioned to succeed within this approach.