May 2008 – Bill Miller, Executive Vice President, Lori Burger, Senior Vice President negotiated the agreement with Calera Investment Group - Assisting in the negotiations for Calera Investment Group, LLC were Jonathan Snow, Director of Acquisitions and Frank Maiorana of the Silicon Valley Law Group.Calera Investment Group (CIG) is a multifamily investment company formed in 2007 by Jerry Binkley and Chaille James, its operating principals. The Santa Clara, California based enterprise acquires multifamily properties using a unique value-add investment strategy in target urban and suburban markets. Typical properties are small to mid-sized projects that are "B" and "C" quality.Through implementation of CIG's customized renovation plan, typical investments can achieve 30%+ NOI growth over a three year period and deliver third party investors a 15%-18% IRR. The principals have successfully implemented the program at 30 properties in California over the past 5 years. CIG expects to acquire $125 million of properties in selected West Coast markets during its first twelve months of operation, and thereafter expand into other markets where similar investment dynamics exist.