investment properties/investment objectives
During this transitional stage of the real estate cycle, BREF Fund I, LLC (the "Fund") will focus on investments in Black communities that display favorable rental markets, employment, and population growth.
BREF Fund I, LLC is a social impact private equity real estate fund that will invest with Black real estate entrepreneurs in small residential properties: one to 10 units (new construction, gut renovations, and fix and flip).
BREF Fund I, LLC being better capitalized than many local buyers will be able to pass on to its Black real estate entrepreneurs, the benefits of providing sellers with greater certainty of closing, in a shorter period of time.
BREF Fund I, LLC's investment objectives are to invest in assets that will enable it to:
- generate attractive risk-adjusted returns through a combination of cash distributions, NOI growth, and capital appreciation over an expected five-year hold period;
- preserve, protect, and return invested capital;
- create value for investors and the community through socially responsible investment management practices that include affordable housing (Section 8 Vouchers and Low-Income Housing Tax Credits) and create jobs for local Black residents.
BREF Fund I, LLC will REQUIRE its Black joint-venture partners to use its investment capital to hire Black: Lawyers, real estate brokers, mortgage bankers, architects, electricians, plumbers, construction contractors, etc.
BREF Fund I, LLC is a social impact private equity real estate fund that will invest with Black real estate entrepreneurs in small residential properties: one to 10 units (new construction, gut renovations, and fix and flip).
BREF Fund I, LLC being better capitalized than many local buyers will be able to pass on to its Black real estate entrepreneurs, the benefits of providing sellers with greater certainty of closing, in a shorter period of time.
BREF Fund I, LLC's investment objectives are to invest in assets that will enable it to:
- generate attractive risk-adjusted returns through a combination of cash distributions, NOI growth, and capital appreciation over an expected five-year hold period;
- preserve, protect, and return invested capital;
- create value for investors and the community through socially responsible investment management practices that include affordable housing (Section 8 Vouchers and Low-Income Housing Tax Credits) and create jobs for local Black residents.
BREF Fund I, LLC will REQUIRE its Black joint-venture partners to use its investment capital to hire Black: Lawyers, real estate brokers, mortgage bankers, architects, electricians, plumbers, construction contractors, etc.
319 Friends Street, Camden, NJ 08102 (BREF Fund I, LLC)
$100,000 Investment In 2024$50,000 Payment Due In 12 Months/2025(Investment #6 - OPEN)
On June 14, 2024, BREF Fund I, LLC invested $100,000 with Tony Payton, Jr. into 319 Friends Street, Camden, NJ 08102.
In 2025, Tony Payton, Jr. will be required to pay a $50,000 investment payment (50% rate of return) and return $100,000 in pricipcal capital to BREF Fund I, LLC.
Tony Payton, Jr. plans to use BREF Fund I, LLC’s investment capital to help him aquire the rest of the block 319 Friends Street, Camden, NJ 08102 is located on to merge the properties into one development project.
Tony Payton, Jr. plans to build a 30 unit student housing development (right next door to Rutgers University).
Tony Payton, Jr. is a former member of the Pennsylvania General Assembly.
Tony Payton, Jr. plans to use BREF Fund I, LLC’s investment capital to help him aquire the rest of the block 319 Friends Street, Camden, NJ 08102 is located on to merge the properties into one development project.
Tony Payton, Jr. plans to build a 30 unit student housing development (right next door to Rutgers University).
Tony Payton, Jr. is a former member of the Pennsylvania General Assembly.
17 Orchid Road, Levittown, NY 11756 (BREF Fund I, LLC)
$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 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, Larry Thomas and Askari Foy, MBA, CPA will be required to pay a $50,000 investment payment (50% rate of return) and return $100,000 in pricipcal capital to BREF Fund I, LLC.
Larry Thomas and Askari Foy, MBA, CPA plan to build a new one-family property for sale. View construction progress video: https://youtu.be/rNVT4nxr3Cg (as of March 8, 2024) and https://youtu.be/9UPnxIPBjTo (as of September 18, 2024). Check out mock up at: https://www.redfin.com/NY/Levittown/17-Orchid-Rd-11756/home/20366387
In 2024, Larry Thomas and Askari Foy, MBA, CPA will be required to pay a $50,000 investment payment (50% rate of return) and return $100,000 in pricipcal capital to BREF Fund I, LLC.
Larry Thomas and Askari Foy, MBA, CPA plan to build a new one-family property for sale. View construction progress video: https://youtu.be/rNVT4nxr3Cg (as of March 8, 2024) and https://youtu.be/9UPnxIPBjTo (as of September 18, 2024). Check out mock up at: https://www.redfin.com/NY/Levittown/17-Orchid-Rd-11756/home/20366387
6134 Washington Avenue, Philadelphia, PA (BREF Fund I, LLC)
$100,000 Investment In 2024$50,000 Payment Due In 12 Months/2025
(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.
In 2024, BREF Fund I, LLC invested $100,000 with Daphne McGee-Geathers, a real estate entrepreneur into her project: 6134 Washington Avenue, Philadelphia, PA 19143.
In 2025, Daphne McGee-Geathers will be required to pay a $50,000 investment payment (50% rate of return) and return $100,000 in pricipcal capital to BREF Fund I, LLC.
Daphne McGee-Geathers is gut-renovating the one-family property for sale.
163 Grafton Street Brooklyn, NY (BREF Fund I, LLC)
$150,000 Investment In 2024$75,000 Payment Due In 12 Months/2025
(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 2024, BREF Fund I, LLC invested $150,000 with Steven Ellis into 163 Grafton Street, Brooklyn, NY 11212 (a gut-renovation of a three-family property for rental income).
In 2025, Steven Ellis will be required to pay a $75,000 investment payment (50% rate of return) to BREF Fund I, LLC.
Steven Ellis plans to rent rooms at market rate to formerly homeless single women via a government affordable housing voucher program.
Steven Ellis 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 - SOLD)
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 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.
NOTE: The property was sold prior to development for a 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)
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/ BREF Fund I, LLC at 3129 Fenton Avenue, Bronx, New York (August 2023).
In 2021, BREF Fund I, LLC with a $10,000 capital investment and the assumption of $315,000 in mortgage debt (and about $450,000 in additional debt), acquired the controlling interest in 3129 Fenton Avenue, Bronx, New York 10469 (the "Property").
3129 Fenton Avenue, Bronx, New York 10469 is currently valued at $690,000 on Redfin.com (as of June 14, 2024).
To date, BREF Fund I, LLC has invested $330,000 (in debt and equity) to bring the property's mortgage current (remove the property from the pre-foreclosure legal process) and renovate the property as a two-family home (first tenant expected to move in by December 1, 2024). 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 four bedrooms and one bathroom. Over the next 5 years, BREF Fund I, LLC 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, BREF Fund I, LLC plans to tear down the existing, one-floor structure and develop the property.
Currently, BREF Fund I, LLC is developing the property as a two family home for government voucher program tenants.
In five (5) years, BREF Fund I, LLC plans to build two semi-attached townhouses; five stories each with two residential units per floor, each containing three-bedrooms and two-bathrooms (ten units in total).
Development plans are based on NYC Mayor Eric Adams’s “City of Yes for Housing Opportunity” proposal (currently under review - 2024). Mayor Adams' signature 'City of Yes' housing plan passes key NYC commission (gothamist.com - September 25, 2024).
3129 Fenton Avenue, Bronx, New York 10469 is currently valued at $690,000 on Redfin.com (as of June 14, 2024).
To date, BREF Fund I, LLC has invested $330,000 (in debt and equity) to bring the property's mortgage current (remove the property from the pre-foreclosure legal process) and renovate the property as a two-family home (first tenant expected to move in by December 1, 2024). 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 four bedrooms and one bathroom. Over the next 5 years, BREF Fund I, LLC 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, BREF Fund I, LLC plans to tear down the existing, one-floor structure and develop the property.
Currently, BREF Fund I, LLC is developing the property as a two family home for government voucher program tenants.
In five (5) years, BREF Fund I, LLC plans to build two semi-attached townhouses; five stories each with two residential units per floor, each containing three-bedrooms and two-bathrooms (ten units in total).
Development plans are based on NYC Mayor Eric Adams’s “City of Yes for Housing Opportunity” proposal (currently under review - 2024). Mayor Adams' signature 'City of Yes' housing plan passes key NYC commission (gothamist.com - September 25, 2024).