About
BODC Multifamily Impact Fund
The BODC Multifamily Impact Fund is a closed-end fund offering to purchase value-add workforce multifamily properties in high-growth southwest markets.
This will be our first opportunity provided in almost a year as we've held unwaveringly true to our criteria to provide you with a high quality investment in a market that we've focused on for many years and have been very successful in.
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Investment Size: $75MM to $100MM
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Bonus Depreciation: 40% to 80%
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Fund Lifetime: 4 to 6 years
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Number of Assets: 3 to 5 multifamily properties
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Fund Structure: Class A, B and C
- Property Size: 100 Units and Above
- Cost Segregation/Bonus Depreciation: 40% to 80%
- Property Type: Class A, B or C Multifamily
- Markets: Southwest
- Vintage: 1970's and Newer
- Loan to Value: 60% to 75%
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13-18% IRR
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16-22% AAR
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1.7-2.2x Equity Multiple
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15-20% IRR
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16-22% AAR
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1.8-2.3x Equity Multiple
Use of Proceeds
Currently, the fund has under contract a 256 unit, class B, workforce multifamily housing community in Tucson, AZ within 5 miles of 3 of our other properties. Proceeds will be used to selectively acquire 2-4 more properties within the fund criteria.
Ownership Structure & Rights of Securities
The fund is structured as a LLC and investors will be members of the LLC.
Risks & Disclosures
Please review the PPM and FAQ.
View our
Offering Documents & Pitch Deck
Meet the BODC Multifamily Impact Fund team
Our mission is to provide passive investors with superior risk adjusted returns with the highest level of transparency and fiduciary responsibility while improving the quality of life and community for our residents.
President
Gary Lipsky
Gary Lipsky is a 20+ year real estate entrepreneur focused on his award winning multifamily syndication business, and has acquired 3000+ apartment units valued at over $250MM. Gary is the host of the Real Estate Investor Podcast, where he interviews industry experts to provide broad range education to investors. He is also the best-selling author of Best in Class, founder of the Asset Management Summit, and a guest speaker featured at many prominent conferences.
Director of Investor Relations
Joseph Fang
Joe has been actively investing in residential real estate ranging from multifamily to short term rentals since 2003 and has invested in over 50 CRE syndications across various food groups since 2017, including 6 deals with Break of Day Capital before joining the team in November 2022. Prior to focusing on real estate full time, Joe worked in the investment management business including 5 years at a hedge fund in New York and 7 years with a large institutional / fund manager in Los Angeles.
Acquisitions & Asset Manager
Erik Thunberg
Erik has worked in institutional real estate investment for more than 10 years. His experience includes multiple asset classes and spans acquisitions, asset management, brokerage, credit and development. Previously, he was with a large publicly-traded REIT focused on medical office acquisitions and development, and with a private equity firm focused on core real estate investments. He earned his bachelor’s in finance from Saint Joseph’s University and his master’s in real estate from Georgetown
Operations Manager
Jaclyn Bromagem
Jaclyn first got into real estate staging homes and creating a property management company for short term rentals in San Felipe, Mexico. After moving back to the states, Jaclyn worked as an administrative assistant while flipping homes in the Northwest since 2002 and went on to work for a property management company where she was responsible for the education and training of property managers.
President
Gary Lipsky
Gary Lipsky is a 20+ year real estate entrepreneur focused on his award winning multifamily syndication business, and has acquired 3000+ apartment units valued at over $250MM. Gary is the host of the Real Estate Investor Podcast, where he interviews industry experts to provide broad range education to investors. He is also the best-selling author of Best in Class, founder of the Asset Management Summit, and a guest speaker featured at many prominent conferences.
Director of Investor Relations
Joseph Fang
Joe has been actively investing in residential real estate ranging from multifamily to short term rentals since 2003 and has invested in over 50 CRE syndications across various food groups since 2017, including 6 deals with Break of Day Capital before joining the team in November 2022. Prior to focusing on real estate full time, Joe worked in the investment management business including 5 years at a hedge fund in New York and 7 years with a large institutional / fund manager in Los Angeles.
Acquisitions & Asset Manager
Erik Thunberg
Erik has worked in institutional real estate investment for more than 10 years. His experience includes multiple asset classes and spans acquisitions, asset management, brokerage, credit and development. Previously, he was with a large publicly-traded REIT focused on medical office acquisitions and development, and with a private equity firm focused on core real estate investments. He earned his bachelor’s in finance from Saint Joseph’s University and his master’s in real estate from Georgetown
Operations Manager
Jaclyn Bromagem
Jaclyn first got into real estate staging homes and creating a property management company for short term rentals in San Felipe, Mexico. After moving back to the states, Jaclyn worked as an administrative assistant while flipping homes in the Northwest since 2002 and went on to work for a property management company where she was responsible for the education and training of property managers.
KPIs
- 61% Average IRR on 3 full cycle exits.
- 1/4 Billion in real estate transactions
- More than $23MM in distributions to date
- No capital calls
- 20-45% average rent bumps on renovated units on current 5 properties under management.
Press Mentions
Gary speaks at real estate conferences across the US including IMN Middle Market Multifamily Denver, Limitless Expo, MFIN, MFINCON and IMN Middle Market Multifamily Arizona. Gary is the best selling author of Best In Class, the foremost book on real estate asset management.
Articles Featured In:
Testimonials
I've been investing with Break of Day Capital for the past 2 years and I have been extremely satisfied with their results. They understand and have a strong feel of the markets they operate in and I have much confidence in Gary and his team in finding the right deal. I also appreciate the transparency that Gary offers via the monthly newsletters which gives me insights into how my investments are performing. Their online platform is very user-friendly and provides an easy process to invest in deals, keep track of your portfolio etc. I know I can always contact someone on their team with any questions I have and will get a response quickly. All in all, just a nice boutique shop to work with. If you are looking to invest with someone trustworthy, I’d suggest giving Break of Day Capital some consideration.
-Sang
Are you new to investing? Skeptical and really don’t know how it works? Then I recommend speaking with Gary and Joe and Break of Day Capital. These guys are not only experienced and knowledgeable but they are plain speaking and transparent. The minute I met Gary and Joe I was at ease. Being a novice they spoke to me in simple terms all the while remaining professional. They are very accessible if I have any questions or concerns. If those are not enough reasons to look into Break of Day, then look at their portfolio and results. No brainer.
-Clay
I am a conservative newbie investor who recently invested with Break of Day Capital. I have known Gary for a while and find him to be intelligent and resourceful; however, I only decided to invest with him after hearing glowing reviews from my friends and family who have been investing with him for years. I can now confirm that my experience with Break of Day Capital has been positive. They have been executing their business strategy effectively, producing results that exceed expectations. Their monthly communication provides easy-to-understand metrics that allow me to gauge the investment's performance. Gary and Joe are also quick to respond to my questions. I would highly recommend them.
-Alice
I have been with Break of Day Capital for years and what I feel working with them is integrity. Financial matters are not my day to day business, so when looking for an expert I need one that can explain that world in a way I can relate too. The whole team at Break of Day Capital is knowledgeable, friendly and genuine. Knowing my hard earned assets are being conservatively cared for has a calming effect as I near my retirement.
-John
I spent 1 year getting to know Gary and made my 1st investment in November of 2020 with the Bella Vista Property which was re-branded as Midtown on Seneca in Tucson AZ. This property sold and had an impressive return, my best investment to date. It was without hesitation I invested again with Gary in Icon on Stella, also in Tucson. In fact, I also recommend this investment to others which I don't do lightly. Gary’s expertise and execution of the business plan is and continues to be amazing. His communication with investors is impressive, updates are complete, and he is always willing to speak with me as an investor.
-K. Trevor
I highly recommend Break of Day Capital for anyone looking to invest in the RE syndication space. They have an outstanding business and asset acquisition plan, which they execute very well. In addition, the team is deliberate and thoughtful in communicating and updating clients on what is happening with their investments. It makes you feel as if you are on the journey with them without having to do any of the heavy liftings. I am thrilled with my partnership with them. Wonderful team!
-Gurdeep Walia
We have been very satisfied with our investment experience with Break of Day Capital. It is rare in today's world to find a company with the professionalism, integrity and transparency of Break of Day Capital. We really appreciate Gary Lipsky's hands-on approach to his business and clients.
-Hannah Sheinin
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