Cabo Del Sol, 136 Units, 1999 Build in Tucson, AZ
Break of Day Capital Acquires 10th Tucson Property, Expands Multifamily Impact Fund Portfolio with Icon on Midvale, a 136-Unit Value-Add Community.
“Icon on Midvale fits perfectly into our business model of B Class Value Add Opportunities. We’re excited to continue to grow in Arizona."— Gary Lipsky
MANHATTAN BEACH, CA, UNITED STATES, December 13, 2024 /
EINPresswire.com/ -- Break of Day Capital, a private equity real estate firm, is proud to announce their 10th acquisition in Tucson, AZ and their second acquisition in the BODC Multifamily Impact Fund. Cabo Del Sol, which will be renamed Icon on Midvale, is a 136-unit property consisting of one-to-three-bedroom units .
Cabo Del Sol, a $21,100,000 purchase, is within close proximity to major employers in the area and within a few miles of two 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 1st earlier this year returning a 19% IRR to investors. They are also in escrow to sell another asset and are under contract to add their third property in their Impact Fund which is targeted to close end of January.
During a recent interview, Gary Lipsky, Founder and President of Break of Day Capital was quoted as saying, “Icon on Midvale fits perfectly into our business model of B Class Value Add Opportunities. We’re excited to continue to grow in Arizona. This 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, the host of the Real Estate Investor Podcast. Gary has been a real estate investor since 2002 and has invested in over 3,000 units with $250MM in real estate transactions. Their early success in the competitive market has allowed them to become one of the premiere real estate firms for investors looking to get involved with managed investments.
To learn more about Break of Day Capital and their portfolio of properties and investment strategy, visit their official website at
https://breakofdaycapital.com.
Gary Lipsky
Break of Day Capital
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Cabo Del Sol Apartments