Fund I
During this transitional stage of the real estate cycle, the Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) will focus on investments in Black communities that display favorable rental markets, employment, and population growth.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) are social impact private equity real estate funds that will invest with Black real estate entrepreneurs in small residential properties: one to ten units (new construction, gut renovations, and fix and flip).
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) being better capitalized than many local buyers will pass onto its Black real estate entrepreneurs the benefits of providing sellers with a greater certainty of closing in a shorter period of time.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two)'s investment objectives are to invest in assets that will enable them to:
- generate attractive risk-adjusted returns through a combination of cash distributions, NOI growth, and capital appreciation over an expected ten-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 creating jobs for local Black residents.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) will [ REQUIRE ] their Black real estate entrepreneurs to use their investment capital to hire Black: lawyers, real estate brokers, mortgage bankers, architects, electricians, plumbers, construction contractors, etc.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) are social impact private equity real estate funds that will invest with Black real estate entrepreneurs in small residential properties: one to ten units (new construction, gut renovations, and fix and flip).
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) being better capitalized than many local buyers will pass onto its Black real estate entrepreneurs the benefits of providing sellers with a greater certainty of closing in a shorter period of time.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two)'s investment objectives are to invest in assets that will enable them to:
- generate attractive risk-adjusted returns through a combination of cash distributions, NOI growth, and capital appreciation over an expected ten-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 creating jobs for local Black residents.
The Urban Real Estate Fund, LLC (Fund One) and the Urban Real Estate Fund II, LLC (Fund Two) will [ REQUIRE ] their Black real estate entrepreneurs to use their investment capital to hire Black: lawyers, real estate brokers, mortgage bankers, architects, electricians, plumbers, construction contractors, etc.
319 Friends Street, Camden, NJ
$100,000 Line Of Equity Capital In 2024$50,000 Payment Due In 12 Months/2025(Investment #6 - OPEN)
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) with Real Estate Developer Tony Payton, Jr. at 319 Friends Street, Camden, NJ 08102.
In 2024, BREF Fund I, LLC (now Urban Real Estate Fund, 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 principal capital to the Urban Real Estate Fund, LLC.
Tony Payton, Jr. plans to use the Urban Real Estate Fund, LLC’s investment capital to help him aquire the rest of the block of 319 Friends Street, Camden, NJ 08102 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 the Urban Real Estate Fund, LLC’s investment capital to help him aquire the rest of the block of 319 Friends Street, Camden, NJ 08102 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
$100,000 Line Of Equity Capital In 2023
$75,000 Paid In April 2025 (18 Months - 50% Annual Rate of Return)
(Investment #5 - CLOSED)
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) with Real Estate Developer Larry Thomas at 17 Orchid Road, Levittown, NY 11756.
In 2023, BREF Fund I, LLC (now Urban Real Estate Fund, 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 2025, Larry Thomas and Askari Foy, MBA, CPA paid a $75,000 investment payment (50% rate of return/18 month term) on a $100,000 investment to the Urban Real Estate Fund, LLC.
Larry Thomas and Askari Foy, MBA, CPA built a new one-family property that was sold. 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 2025, Larry Thomas and Askari Foy, MBA, CPA paid a $75,000 investment payment (50% rate of return/18 month term) on a $100,000 investment to the Urban Real Estate Fund, LLC.
Larry Thomas and Askari Foy, MBA, CPA built a new one-family property that was sold. 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
$100,000 Line Of Equity Capital In 2024$50,000 Payment Due In 12 Months/2025
(Investment #4 - OPEN)
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) with Real Estate Developer Daphne McGee-Geathers at 6134 Washington Avenue, Philadelphia, PA 19143.
In 2024, BREF Fund I, LLC (now Urban Real Estate Fund, 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 principal capital to Urban Real Estate Fund, LLC.
Daphne McGee-Geathers is gut-renovating the one-family property for sale.
163 Grafton Street, Brooklyn, NY
$100,000 Line Of Equity Capital In 2024$75,000 Payment In Default As of May 16, 2025
(Investment #3 - In Default)
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Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) and Real Estate Developer Steven Ellis in Brownsville, Brooklyn, NY.
In 2024, BREF Fund I, LLC (now Urban Real Estate Fund, 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 2023, BREF Fund I, LLC (now Urban Real Estate Fund, LLC) provide a $100,000 line of equity capital with Steven Ellis into 163 Grafton Street, Brooklyn, NY (a gut-renovation of a three-family property for rental income).
In 2023, Steven Ellis paid $100,000 ($50,000 investment income and $50,000 in principal equity capital on a $100,000 equity investment).
In 2023, the Fund invested an additional $50,000 with Steven Ellis.
In 2024, the investment was rolled over for the second year at $150,000 due to a delay in the renovations of the property because of the challenges with the utility company connecting the building to the power grid.
On May 16, 2025, Steven Ellis FAILED to close out the investment with a $225,000 payment.
Over the last six months, Steven Ellis has refused to have a telephone or in-person conversation with Thomas Lopez-Pierre, Fund Manager about the state of the investment (other than texts messages).
The Fund holds a 33% ownership interest in the property.
The Fund plans to file a lawsuit in Brooklyn Supreme Court to secure its $225,000 payment (and legal fees).
39 High Avenue, Pembroke, MA
$100,000 Investment In 2022$60,000 Earned Investment Income In 2023 (18 Months - 40% Annual Rate of Return)
(Investment #2 - CLOSED)
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) with Real Estate Developer Askari Foy, MBA, CPA at 39 High Avenue, Pembroke, MA.
In 2022, BREF Fund I, LLC (now Urban Real Estate Fund, 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
From 2021 to 2025, the Urban Real Estate Fund, LLC has invested $330,000 (in debt and equity)
(Sold For $1,012,755)!
(Investment #1 - CLOSED)
Thomas Lopez-Pierre of the Black Real Estate Forum, LLC/BREF Fund I, LLC (now Urban Real Estate Fund, LLC) at 3129 Fenton Avenue, Bronx, NY.
In 2021, BREF Fund I, LLC (now Urban Real Estate Fund, 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 $705,167 on Redfin.com (as of April 30, 2025).
To date, the Urban Real Estate Fund, 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. The property is currently a one-story, two-family residence with approximately 50x100 square feet of land. In January 2025, a tenant using a government voucher program moved into the property. On April 30, 2025, the property was sold for $1,012,755 to a joint-venture partnership managed by Thomas Lopez-Pierre.
3129 Fenton Avenue, Bronx, New York 10469 is currently valued at $705,167 on Redfin.com (as of April 30, 2025).
To date, the Urban Real Estate Fund, 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. The property is currently a one-story, two-family residence with approximately 50x100 square feet of land. In January 2025, a tenant using a government voucher program moved into the property. On April 30, 2025, the property was sold for $1,012,755 to a joint-venture partnership managed by Thomas Lopez-Pierre.