Break of Day Capital Revitalizes Vacant Office Site into Affordable Multifamily Housing

Break of Day Capital Converts Former Office Property into Affordable Multifamily Community in Arizona

SCOTTSDALE, AZ, CA, UNITED STATES, October 30, 2025 /EINPresswire.com/ -- Break of Day Capital, an award-winning multifamily investment and asset management firm, announced continued success at Youngtown Flats, a large-scale adaptive reuse project that transformed an aging office complex into a vibrant multifamily community providing much-needed affordable housing in Youngtown, Arizona.

Acquired in 2021, the property was a 1980s-era garden office complex that had become run down and underutilized. Through a creative office-to-multifamily conversion and new-construction strategy, Break of Day Capital redeveloped the existing buildings into 44 residential units and added 60 newly built units on the available land, creating a total of 104 modern apartments that serve the growing demand for attainable housing.

“Office-to-multifamily conversions are one of the most sustainable and effective ways to address the nation’s housing shortage,” said Gary Lipsky, CEO of Break of Day Capital. “By reimagining underperforming commercial properties, we’re revitalizing communities, improving neighborhood aesthetics, and creating housing opportunities that make sense for today’s market.”

Leasing began less than two years after acquisition, and by May 2024 the community had reached over 90 percent occupancy. Since stabilization, the property has consistently paid investor distributions and has returned more than 85 percent of investor capital to date, with a potential sale or additional refinance anticipated within the next year.

The redevelopment has revitalized an underutilized site, enhanced the local housing supply, and delivered attractive returns for investors, a testament to Break of Day Capital’s operational expertise and commitment to socially responsible real estate investment.

Project Highlights:
-Conversion Type: Office-to-multifamily adaptive reuse and new construction
-Units: 104 total (44 converted, 60 newly built)
-Purchased: August 2021
-Vintage: 1982
-Occupancy: Over 90% as of May 2024
-Impact: Revitalized a run-down garden office property into a vibrant, affordable multifamily community

About Break of Day Capital
Break of Day Capital is a real estate syndication firm that specializes in multifamily redevelopment and adaptive reuse projects across the U.S. The company focuses on creating durable, long-term value by transforming underperforming assets into high-performing communities while delivering strong, risk-adjusted returns for investors.

Led by CEO Gary Lipsky, Break of Day Capital combines operational excellence with an education-first approach that empowers investors to make confident, informed decisions about building passive wealth through real estate and other alternative investments.

Through its Invest Smart platform, the firm provides investor tools and resources, including the Invest Smart Toolbox, to help identify red flags, assess opportunities, and align investment goals with smart strategies. Break of Day Capital has been featured by Inc. Magazine as one of the fastest-growing private real estate firms and was named Best Real Estate Syndication Company by AAOA.

To learn more, visit https://breakofdaycapital.com

Gary Lipsky
Break of Day Capital
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