investment documents
(Click on the below links to download copies of the following documents)
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BREF Fund II, LLC:
(Launching January 2, 2024)
BREF Fund II, LLC ("Fund II") was incorporated on May 1, 2023, as a social impact private equity real estate fund.
BREF Fund II, LLC is the successor fund to BREF Fund I, LLC.
BREF Fund II, LLC (unsecured) is offering equity investors a 10% preferred return, or 50% of the profits (whichever is greater).
BREF Fund II, LLC and BREF Fund I, LLC will jointly invest in real estate and will divide ownership interest by an equal percentage of capital invested.
NOTE: The Audit Committee of BREF Fund II, LLC will be established in 2024.
BREF Fund II, LLC - Minimum Investment: $10,000.
BREF Debt Capital, LLC:
BREF Debt Capital, LLC (the "Debt Capital") launched on April 14, 2023, and has raised $205,000 in debt capital (as of 10-1-23).
The first $500,000 ($Five Hundred Thousand Dollars) raised by Debt Capital will pay an annual interest rate of 10% to investors, afterwards Debt Capital will reduce its annual interest rate to 5% to investors (secured by the Fund's real estate assets).
NOTE: BREF Debt Capital, LLC's Audit Committee and Loan Committee will be established in late 2024.
BREF Debt Capital, LLC - Minimum Investment: $5,000.
BREF Fund I, LLC:
(NOTE: As Of April 30, 2023, BREF Fund I, LLC Is CLOSED To New Investors).
BREF Fund I, LLC ("Fund I") launched on April 30, 2021, as a social impact private equity real estate fund, and has raised $305,000 in equity capital from 30 Black investors (18 Males/12 Females) before being CLOSED to new investors on April 30, 2023.
BREF Fund I, LLC holds ownership interests in five properties:
3129 Fenton Avenue, Bronx, NY.
(Investment # 1)
39 High Avenue, Pembroke, MA.
(Investment # 2 - SOLD IN 2023)
163 Grafton Street, Brooklyn, NY.
(Investment # 3)
6134 Washington Avenue, Philadelphia, PA.
(Investment # 4)
17 Orchid Road, Levittown, NY.
(Investment # 5)
Audit Committee of BREF Fund I, LLC
(5 Members/1 Member TBA)
Askari Foy, MBA, CPA + Charles Mouton, M.D., MBA + Clayton Benn, MBA + Michael Poku, M.D., MBA
Investment Committee of BREF Fund I, LLC
(16 Members)
Askari Foy, MBA, CPA + Beatrice Cazeau, Esq. + Clarissa Parrish, M.D. + Clayton Benn, MBA
Gwen Muse-Evans, MBA + Janet Southerland, DDS, MPH, Ph.D. + Jimmy Moyon + Karen Glover, M.D.
Kevin Teal, M.D. + Keyon Brown, Esq. + Matthew Scott + Michael Poku, M.D., MBA
Naseer Malik + Robert Jones + Robin Newton Jenkins, M.D. + Willie J. Parker, M.D.
17 Orchid Road, Levittown, NY
$100,000 Line Of Equity Capital In 2023$50,000 Payment Due In 12 Months/2024(Investment #5 - OPEN)
On October 11, 2023, BREF Fund I, LLC ("Fund I") extended a line of equity capital of $100,000 to Larry Thomas and Askari Foy, MBA, CPA, real estate entrepreneurs into their project: 17 Orchid Road, Levittown, NY 11756.
In 2024, BREF Fund I, LLC expects to be paid $50,000 in investment income and the return of its $100,000 in principal capital.
Larry Thomas and Askari Foy, MBA, CPA plan to build a new one-family property for sale.
In 2024, BREF Fund I, LLC expects to be paid $50,000 in investment income and the return of its $100,000 in principal capital.
Larry Thomas and Askari Foy, MBA, CPA plan to build a new one-family property for sale.
6134 Washington Avenue, Philadelphia, PA (BREF Fund I, LLC)
$50,000 Investment In 2023
$25,000 Payment Due In 12 Months/2024
(Investment #4 - OPEN)
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC with Real Estate Developer Daphne McGee-Geathers at 6134 Washington Avenue, Philadelphia, PA 19143.
On May 26, 2023, BREF Fund I, LLC ("Fund I") invested $50,000 with Daphne McGee-Geathers, a real estate entrepreneur into her project: 6134 Washington Avenue, Philadelphia, PA 19143.
In 2024, BREF Fund I, LLC expects to be paid $25,000 in investment income and the return of its $50,000 in principal capital.
Daphne McGee-Geathers is gut-renovating the one (1) family property for sale.
In 2024, BREF Fund I, LLC expects to be paid $25,000 in investment income and the return of its $50,000 in principal capital.
Daphne McGee-Geathers is gut-renovating the one (1) family property for sale.
163 Grafton Street Brooklyn, NY (BREF Fund I, LLC)
$100,000 Investment In 2022$50,000 Earned Investment Income (as of 5-12-23)$100,000 Investment In 2023$50,000 Payment Due In 12 Months/2024
(Investment #3 - OPEN)
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC and Real Estate Developer Steven Ellis in Brownsville, Brooklyn, NY (August 2022).
(Click Here for Part II of the video)
In 2022, BREF Fund I, LLC ("Fund I") invested $100,000 with Steven Ellis, a real estate entrepreneur into his project: 163 Grafton Street, Brooklyn, NY 1121
On May 12, 2023, BREF Fund I, LLC was paid $50,000 in investment income and the return of $50,000 in principal capital ($50,000 in principal capital is outstanding).
Steven Ellis is gut-renovating the three-family property for rental income.
The developer plans to rent rooms at market rate to formerly homeless single women via a government affordable housing voucher program.
On May 12, 2023, BREF Fund I, LLC was paid $50,000 in investment income and the return of $50,000 in principal capital ($50,000 in principal capital is outstanding).
Steven Ellis is gut-renovating the three-family property for rental income.
The developer plans to rent rooms at market rate to formerly homeless single women via a government affordable housing voucher program.
39 High Avenue, Pembroke, MA (BREF Fund I, LLC)
$100,000 Investment In 2022$60,000 Earned Investment Income In 2023 (Term: 18 months)(Investment #2 - CLOSED)
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/ BREF Fund I, LLC at 39 High Avenue, Pembroke, Massachusetts with Askari Foy, MBA, CPA (January 2022).
In 2022, BREF Fund I, LLC ("Fund I") invested $100,000 into Venture Alliance - 39 High Avenue, LLC.
In 2023, BREF Fund I, LLC was paid $60,000 (a 40% rate of return), and the return of $100,000 in principal investment capital from Venture Alliance - 39 High Avenue, LLC (the "Company"). The Company is an investment vehicle managed by Askari Foy, MBA, CPA, and Larry Thomas experienced Black real estate developers and Co-Founders of Venture Alliance Real Estate Enterprise, LLC. NOTE: The property was sold prior to development for profit in 2023.
In 2023, BREF Fund I, LLC was paid $60,000 (a 40% rate of return), and the return of $100,000 in principal investment capital from Venture Alliance - 39 High Avenue, LLC (the "Company"). The Company is an investment vehicle managed by Askari Foy, MBA, CPA, and Larry Thomas experienced Black real estate developers and Co-Founders of Venture Alliance Real Estate Enterprise, LLC. NOTE: The property was sold prior to development for profit in 2023.
3129 Fenton Avenue, Bronx, NY (BREF Fund I, LLC)
$10,000 Investment In 2021$245,000 In Cash and $175,000 In Promissory Notes (10% Annual Interest Rate) Invested in 2023Projected Investment Income: TBD!(Investment #1 - OPEN)
In 2021, BREF Fund I, LLC ("Fund I") with a $10,000 capital investment and the assumption of $315,000 in mortgage debt (and $77,500 in additional debt), acquired the controlling interest in 3129 Fenton Avenue, Bronx, New York 10469 (the "Property").
On April 26, 2023, Fund I invested an additional $116,891.11 in the property to bring the property's mortgage current and remove the property from the pre-foreclosure legal process.
3129 Fenton Avenue, Bronx, New York 10469 is currently valued at $687,000 on Redfin.com (as of September 25, 2023).
The property is currently a one-story, two-family residence with approximately 50x100 square feet of land and 1,602 square feet of building area, containing three bedrooms and one bathroom. In 2024, BREF Fund I, LLC (Black investors) plans to sell 25% of the property for $250,000 to BREF Fund II, LLC (Black investors) to reduce the property's debt load. Over the next 5 years, Fund I plans to rent the property out to tenants (rental income will be used to service the mortgage debt).
After about 5 years and with interest rates and supply chain/construction costs stabilized, Fund I plans to form a joint-venture partnership with a Black real estate developer to tear down the existing, one-floor structure and develop the property.
Although the exact details are still being developed, Fund I anticipates that the redevelopment will contain approximately 50x100 square feet of land and 5,200 square feet of building area, divided between two semi-attached townhouses; the planned townhouse will have two stories with two residential units, each containing three-bedrooms and two-bathrooms (four units).
After the completion of the redevelopment of the property, Fund I anticipates that the project will have a value of $2,000,000 (each of the two townhouses is expected to sell for a minimum of $1,000,000).
As of May 1, 2023, 3115 Fenton Avenue, Bronx, New York, 10469 (just a few houses away from the BREF Fund I, LLC's property) is two semi-attached townhouses, each valued at $882,300 by trulia.com.
(development plan as of July 1, 2023)
On April 26, 2023, Fund I invested an additional $116,891.11 in the property to bring the property's mortgage current and remove the property from the pre-foreclosure legal process.
3129 Fenton Avenue, Bronx, New York 10469 is currently valued at $687,000 on Redfin.com (as of September 25, 2023).
The property is currently a one-story, two-family residence with approximately 50x100 square feet of land and 1,602 square feet of building area, containing three bedrooms and one bathroom. In 2024, BREF Fund I, LLC (Black investors) plans to sell 25% of the property for $250,000 to BREF Fund II, LLC (Black investors) to reduce the property's debt load. Over the next 5 years, Fund I plans to rent the property out to tenants (rental income will be used to service the mortgage debt).
After about 5 years and with interest rates and supply chain/construction costs stabilized, Fund I plans to form a joint-venture partnership with a Black real estate developer to tear down the existing, one-floor structure and develop the property.
Although the exact details are still being developed, Fund I anticipates that the redevelopment will contain approximately 50x100 square feet of land and 5,200 square feet of building area, divided between two semi-attached townhouses; the planned townhouse will have two stories with two residential units, each containing three-bedrooms and two-bathrooms (four units).
After the completion of the redevelopment of the property, Fund I anticipates that the project will have a value of $2,000,000 (each of the two townhouses is expected to sell for a minimum of $1,000,000).
As of May 1, 2023, 3115 Fenton Avenue, Bronx, New York, 10469 (just a few houses away from the BREF Fund I, LLC's property) is two semi-attached townhouses, each valued at $882,300 by trulia.com.
(development plan as of July 1, 2023)
This is not an offer to sell or a solicitation of any offer to buy any securities. Offers are made only by prospectus or other offering materials. To obtain further information, you must complete our investor questionnaire and meet the suitability standards required by law. Fair Housing Notice: The Black Real Estate Forum, LLC, BREF Fund I, LLC, and BREF Debt Capital, LLC are committed to compliance with all federal, state, and local fair housing laws. The Black Real Estate Forum, LLC, BREF Fund I, LLC, and BREF Debt Capital, LLC will not discriminate against any person because of race, color, religion, national origin, sex, familial status, disability, or any other specific classes protected by applicable laws with regard to rentals and/or sales of housing.