Caliber promotes Greg James to chief operating officer

SCOTTSDALE - Real estate investor and developer Caliber (NASDAQ:CWD) announced Tuesday the promotion of Greg James to Chief Operating Officer, replacing Ignacio Martinez who departed on July 7. The announcement comes as the company faces significant challenges, with InvestingPro data showing an 80% decline in stock value over the past year and a current market capitalization of just $4.39 million.

James, who joined Caliber in October 2024 as COO & Head of Hotel Asset Management, brings over 34 years of experience in hotel operations and asset management to his expanded role. He previously spent nearly two decades at Summit Hotel Properties (NYSE:INN), where he served as Senior Vice President of Operations.

In his new position, James will oversee all aspects of Caliber’s acquisitions, development, and asset management services. His background includes managing a hotel investment portfolio of over 100 assets valued at $3.5 billion across 26 states.

"I am honored to step into the role of Chief Operating Officer at Caliber during such an exciting time of growth," James said, according to the company’s press release.

Prior to joining Caliber, James worked at Summit Hotel Properties where he oversaw revenue strategy, asset management, data analytics, and hotel operations. He began his career with Marriott International in 1991, managing operations at more than a dozen properties nationwide.

Caliber, which manages approximately $2.9 billion in assets, specializes in hospitality, multi-family residential, and multi-tenant industrial real estate investments. The company has been operating for 16 years and is publicly traded on the Nasdaq. Investors awaiting the company’s next earnings report on August 7 can access detailed financial analysis and 13 additional ProTips through InvestingPro.

In other recent news, Caliber has announced that it regained compliance with Nasdaq’s minimum share price requirement after its stock maintained a closing bid price of $1.00 or more per share for a specified period. This development follows a previous notification from Nasdaq regarding non-compliance due to a dip in share price. Additionally, Caliber has declared a 1-for-20 reverse stock split for its Class A and Class B common stock, effective May 2, 2025, to further ensure compliance with Nasdaq’s listing requirements. This reverse stock split was approved by shareholders and aims to increase the market price per share.

Moreover, Caliber has entered an exclusive agreement with Hyatt Hotels Corporation to develop 15 new Hyatt Studios hotels across five states, including Arizona and Texas. This strategic partnership is anticipated to add $400 million in assets under management for Caliber. The Phoenix City Council has also approved Caliber’s Canyon Village redevelopment project, which will convert a distressed office building into a 376-unit multifamily residential complex. This project is part of an opportunity zone, offering tax incentives, and aims to address the growing housing demand in Phoenix.

These recent developments highlight Caliber’s strategic efforts to expand its real estate portfolio and meet compliance standards.

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