MANHATTAN BEACH, CA - Break of Day Capital, a multifamily real estate investment firm, is proud to announce their 8th acquisition in Tucson, AZ a $9,500,000 purchase of Dakota Canyon. Dakota Canyon, which will be renamed Icon on Pima, is an 80-unit property consisting of one-to-three-bedroom units.
Dakota Canyon is within close proximity to major employers in the area and two blocks away from Icon Apartments, a recent Break of Day Capital acquisition. The 1973 garden-style apartment complex will undergo value-add capital improvements: unit renovations, landscaping, and amenity upgrades.
This acquisition marks the 10th property Break of Day Capital acquired in Arizona and the 5th in the last 10 months. Break of Day Capital continues to generate superior returns for investors in the Tucson market having recently sold Midtown on 2nd for more than 2x what they paid for less than 20 months ago.
During a recent interview, Gary Lipsky, Managing Partner of Break of Day Capital was quoted as saying, “Dakota Canyon fits perfectly into our business model of B and C-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 there is a migrating population growth and an opportunity for value creation within the multifamily asset class. The firm is led by Gary Lipsky, author of the bestselling book, Best In Class, and the host of the Real Estate Asset Management 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 www.breakofdaycapital.com.