La Posada Apartments Has Been Acquired By Break of Day Capital
La Posada, 136 Units, 1999 Build in Tucson, AZ
Break of Day Capital acquires its 11th Tucson property, La Posada, a 136-unit asset in the BODC Multifamily Impact Fund, with value-add upgrades planned.
La Posada, a $22,350,000 purchase, is within close proximity to major employers in the area and within a few miles of three other properties owned by Break of Day Capital. The 1999 garden-style apartment complex will undergo value-add capital improvements: unit renovations, landscaping and amenity upgrades.
Break of Day Capital remains very active in the market having sold Midtown on 1 st last year returning a 19% IRR to investors and acquiring two new properties within the last 4 months.
During a recent interview, Gary Lipsky, Founder and President of Break of Day Capital was quoted as saying, “Icon on Headley is another great core asset that fits perfectly in our portfolio. We’re excited to continue to find value properties. This purchase coincides with our mission to positively impact the lives of our investors and the communities in which we invest through the highest level of transparency and fiduciary responsibility."
ABOUT BREAK OF DAY CAPITAL
Break of Day Capital is focused on acquiring value-add multifamily properties in the Southwest where they’ve averaged a 40% bump in NOI in the first 12 months across their portfolio. The firm is led by Gary Lipsky, author of the bestselling books, Best In Class and Invest Smart and the the host of the Real Estate Investor Podcast. Gary has been a real estate investor since 2002 and has invested in over 1800 units as a General Partner, with $320MM in real estate transactions. Break of Day Capital is a premiere real estate firms for investors looking to get involved with managed investments.
Gary Lipsky
Break of Day Capital
info@breakofdaycapital.com
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