Caliber (Nasdaq CWD), a diversified real estate and digital asset management platform, today announced that PURE Pickleball & Padel (“PURE”) — its co-developed 196,000-square-foot indoor pickleball and padel facility adjacent to Scottsdale, Arizona at Riverwalk on the Salt River Pima-Maricopa Indian Community — has recently received all required building permits, clearing the final regulatory hurdle and positioning the project for groundbreaking. The permits were filed originally in September 2025. Caliber is currently finalizing construction financing and closing the equity round. The groundbreaking announcement will follow the close.

The approval of all required building permits marks the culmination of a 900-day permitting process spanning hundreds of meetings, community hearings, and design reviews. Caliber is currently finalizing construction financing with groundbreaking expected to follow. Caliber is expected to initiate a final call for capital from equity investors prior to the close of construction financing.

“We’re excited to reach this milestone and move one step closer to breaking ground.” said Chris Loeffler, CEO of Caliber, “PURE Pickleball & Padel represents a unique combination of sport, community, and lifestyle. We believe this project will serve as a premier destination for enthusiasts while creating long-term value for investors and the surrounding community.”

“To the PURE community who believed in us before there was anything to believe in — this moment is yours too. We now move to cement Scottsdale, Arizona as the new pickleball and padel capital of the world,” said Kevin J. Berk, Co-Founder & CEO, PURE Pickleball & Padel.

Investment Opportunity
Caliber and PURE are offering accredited investors and investment advisors the opportunity to participate in the project through a structured investment offering. The development is located within a Qualified Opportunity Zone, and a QOZ Fund has been established to facilitate direct investment.

The final close is time sensitive and full project details and offering materials are available at caliberco.com/assets/pickleball-padel-in-arizona.

PURE Charter Membership Waitlist Now Open
PURE has opened its Charter Membership waitlist ahead of the facility’s opening. Pre-opening memberships are strictly capped; once allocated, these rates will not be available again. Charter Members will receive a lifetime rate lock, VIP access before opening day, exclusive events and recognition, and permanent recognition in the building. No financial commitment is required at the time of reservation. Charter Membership reservations are available at purepickleball.com/membership.

PURE hosting AZ High School Pickleball Club Cup Championship
On April 25, 2026, PURE will host the Arizona High School Pickleball Club Cup Championship at Fremont Junior High in Mesa — the first USA Pickleball-certified high school team championship event in the country.

The event will feature twelve schools competing across fourteen courts, with athletic directors and coaches from across Arizona convening on-site to advance the case for AIA recognition of pickleball as a sanctioned high school sport.

PURE has been building the Arizona High School Pickleball infrastructure since 2025, growing to 30 high school clubs statewide and 145 student-athletes at the inaugural December 2025 championship. The Club Cup introduces a team-based competition format designed specifically to meet the AIA’s framework for sanctioning a new sport. The event is free and open to the public.