v3.26.1
Related Party Transactions (Tables)
3 Months Ended
Mar. 31, 2026
Related Party Transactions [Abstract]  
Schedule of Related Party Transactions
The table below shows the total revenues earned for providing services under Platform as described in the Revenue Recognition section of Note 2 – Summary of Significant Accounting Policies for the three months ended March 31, 2026 and 2025.
Three Months Ended March 31,
20262025
Fund management fees$2,456 $2,470 
Financing fees401 52 
Development and construction fees455 470 
Brokerage fees352 204 
Total asset management3,664 3,196 
Performance allocations34 
Total related party Platform revenue$3,698 $3,197 
Schedule of Notes Receivable
The following table summarizes the notes receivable – related parties of the Company as of March 31, 2026 and December 31, 2025 (in thousands):

Notes Receivable - Related PartiesMarch 31, 2026December 31, 2025
Interest Rate (1)
Maturity Date (1)
Olathe Behavioral Health MezzCo LLC (2)
$— $— 12.00%January 2027
Encore Caliber Holdings, LLC550 155 12.00%March 2027
Caliber Hospitality LP1,540 4,375 12.00%April 2027
DFW Behavioral Health LLC (2)
185 165 12.00%November 2026
West Ridge MezzCo, LLC461 422 12.00%December 2026
Ridge II MezzCo, LLC307 238 12.00%May 2027
Ironwood 92 Partners LLC (2)
— — 12.00%January 2027
Caliber Fixed Income Fund III, LP69 532 12.00%July 2026
Caliber Hospitality JV, LLC4,174 376 12.00%September 2026
Caliber Tax Advantaged Opportunity Zone Fund, LP— 157 12.00%September 2027
J-25 Land Holdings, LLC1,046 672 12.00%September 2026
Elliot 10 MezzCo, LLC282 219 12.00%July 2027
Caliber Core+ Growth & Income Fund REIT, LLC112 37 12.00%December 2027
Total Notes Receivable - Related Parties$8,726 $7,348 
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(1) As of March 31, 2026.
(2) The Company entered into unsecured promissory notes with related parties which were repaid or impaired during the three months ended March 31, 2026.
Notes Receivable
The consolidated funds entered into unsecured promissory notes with related parties. The notes may be repaid in whole, or in part, without penalty. The notes receivable – related parties consisted of the following as of March 31, 2026 and December 31, 2025 (in thousands):
Notes Receivable - Related PartiesMarch 31, 2026December 31, 2025
Interest Rate(1)
Maturity Date(1)
Caliber Hospitality, LP (2)
$5,055 $— 12.00%June 2027
Elliot & 51st Street, LLC
936 936 12.00%April 2027
Total Notes Receivable - Related Parties$5,991 $936 
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(1) As of March 31, 2026.
(2) During the three months ended March 31, 2026, the Company consolidated Commons Fundco, LLC (as discussed in Note 3 – VIEs), who is the lender of a promissory note with Caliber Hospitality, LP.