Goodegg Investments and Break of Day Capital Acquire 248-Unit Apartment Community in Tucson, Arizona
TUCSON, Ariz., July 29, 2022 /PRNewswire/ -- Leading commercial real estate firms Goodegg Investments and Break of Day Capital are pleased to announce the joint acquisition of Mission Antigua – a 248-unit class-B+ apartment community located in Tucson, Arizona. The teams are led by Julie Lam and Annie Dickerson at Goodegg Investments, and Gary Lipsky at Break of Day Capital.
"We are delighted to add Mission Antigua to our growing portfolio in Arizona and the Sunbelt Region. Tucson is one of the strongest real estate markets in the country – driven by strong population growth, job growth, and job diversity," commented the investment leads.
"Given the shifts in the overall market and continued economic uncertainty, we are confident this acquisition came at the ideal time, to help our investors hedge against inflation and protect their capital while also helping to optimize this asset and provide quality living for the residents, all while Tucson continues to grow and thrive."
Mission Antigua is a 248-unit, garden-style class-B+ apartment community completed in 1989. Located on a main thoroughfare in the Midvale Park area, less than 15 minutes from downtown Tucson, Mission Antigua is within close proximity to major employers in the area.
Mission Antigua features an attractive mix of one-, two-, and three- bedroom units, along with modern amenities, including a swimming pool / spa, fitness center, clubhouse, fireplaces and vaulted ceilings in select units, and balconies and patios.
Approximately 70% of the units have already been renovated, and Goodegg Investments and Break of Day Capital will implement the proven value-add plan in renovating the remaining 30% of the units, thus improving quality of life and optimizing the asset.
This is the 8th asset in Arizona for Break of Day Capital and the first for Goodegg Investments. Together, Goodegg Investments and Break of Day Capital collectively own and operate over 8,000 multifamily units worth over $1B across Arizona, Texas, and the Southeast and as such, they are uniquely positioned to lead the optimization and growth of this property.
Mission Antigua is a 248-unit class-B+ apartment community built in 1989 situated on approximately 9.93 acres, offering modern one-, two-, and three-bedroom apartments along with a range of both unit and community amenities. Mission Antigua is located in the Midvale Park area, just 15 minutes from downtown Tucson, providing residents excellent access to area employers, shopping, and other amenities.
Goodegg Investments is an award-winning women-owned and women-led commercial real estate business founded by Julie Lam and Annie Dickerson – two busy moms with a passion for real estate. Goodegg Investments helps busy families create passive income through investing in real estate syndications. To date, Goodegg Investments has acquired over $1 billion in real estate assets across the country and has helped thousands of investors build wealth for their families through real estate. Learn more at http://goodegginvestments.com or contact [email protected].
Break of Day Capital is focused on acquiring value-add multifamily properties in the Southwest where there is migrating population growth and an opportunity for value creation within the multifamily asset class. They have been incredibly successful in the markets in which they have invested in, returning huge returns for their passive investors. 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. Break of Day Capital looks to add an additional 4-6 properties in the Southwest market over the next 12 months.
To learn more about Break of Day Capital and their portfolio of properties and investment strategy, visit https://breakofdaycapital.com.
Contact:
Annie Dickerson
Goodegg Investments
(888) 830-1450
[email protected]
SOURCE Goodegg Investments
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