1-U 1 tm2327444d1_1u.htm FORM 1-U











Date of Report (Date of earliest event reported): September 30, 2023


CalTier Fund I, LP

(Exact name of issuer as specified in its charter)


Delaware   36-4920665
(State or other jurisdiction of   (IRS Employer
incorporation or organization)   Identification No.)
14269 Danielson St.,
Poway, California
(Address of principal executive offices)   (Zip code)


(619) 344-0291

(Issuer’s telephone number, including area code)


Units Representing Limited Partnership Interests

(Title of each class of securities issued pursuant to Regulation A)






Item 9. Other Events


CalTier Fund I, LP (the “Company”, “we”, “us”, or “our”) is filing this current report on Form 1-U to disclose the following.


Net Asset Value as of September 30, 2023


As of September 30, 2023, our Net Asset Value (“NAV”) per unit is $5.00. This NAV per unit shall be effective through December 31, 2023 (or as soon as commercially reasonable thereafter), unless updated by us prior to that time.


Components of NAV


The following sets forth the calculation of NAV for our units:




   September 30,
2023 (1)
   June 30,
2023 (1)
Cash and cash equivalents  $167,890   $64,439 
Investments in Securities, at Fair Value  $3,489,226   $3,463,240 
Deferred offering costs  $97,182   $97,182 
Total assets  $3,754,298   $3,610,137 
Accounts payable  $21,912   $56,411 
Distribution payable  $0   $0 
Loan Payable  $863,708   $905,000 
Advances from Related Parties  $360,163   $499,822 
Total liabilities  $1,245,783    1,461,233 
NET ASSETS  $2,508,515   $2,284,603 
Net assets consist of:          
Limited Partner’s Equity  $2,508,515   $2,284,603 
NET ASSETS  $2,508,515   $2,284,603 
NET ASSET VALUE PER UNIT, 1,218,542 and 1,135,630 units outstanding for the periods ended September 30, 2023 and June 30, 2023, respectively  $5   $5 


(1)Estimated Statements of Assets and Liabilities as of September 30, 2023 and June 30, 2023. 


As described in “Valuation Policies” in our offering circular dated May 18, 2023, as supplemented from time to time (collectively, the “Offering Circular”), our General Partner or a third-party accountant will calculate our NAV per unit using a process that reflects (1) estimated values of each of the Company’s commercial real estate assets and investments, including related liabilities, based upon (a) market capitalization rates, comparable sales information, interest rates, net operating income, (b) with respect to debt, default rates, discount rates and loss severity rates, and (c) in certain instances reports of the underlying real estate provided by an independent valuation expert, (2) the price of liquid assets for which third party market quotes are available, (3) accruals of the Company’s periodic distributions and (4) estimated accruals of the Company’s operating revenues and expenses.


The calculation of our NAV per unit is based on a number of subjective judgments and assumptions that may not prove to be accurate. Our published NAV per unit may not fully reflect the precise amount that might be paid for your units in a market transaction. Moreover, although we evaluate and provide our NAV per unit on a quarterly basis, our NAV per unit may fluctuate daily so that the NAV per unit in effect for any fiscal quarter may not reflect the amount that might be paid for your units in a market transaction. Further, our published NAV per unit may not fully reflect certain material events to the extent that they are not known or their financial impact on our portfolio is not immediately quantifiable. Any material event that would cause our NAV per unit to change by more than 5% would require a recalculation. We will disclose the updated price and the reason for the change in an Offering Circular supplement and on www.caltier.fund as promptly as reasonably practicable.


Share Redemption Plan Status


For the quarter ended September 30, 2023, we expect to redeem approximately 10,000 units pursuant to our share redemption plan.


Historical NAV Information


Since formation, the NAV price per unit has been $5.00.







Pursuant to the requirements of Regulation A, the issuer has duly caused this report to be signed on its behalf by the undersigned, thereunto duly authorized, in the City of Poway, State of California, on October 2, 2023.


CalTier Fund I, LP   
By: CalTier, Inc., its General Partner  
By: /s/ Matthew Belcher  
Name: Matthew Belcher  
Title: CEO of CalTier Inc., Principal Executive Officer