Rise48 Equity Secures 56th Asset, Plans $3.4M Revitalization of Rise Gateway
Rise48 Equity has officially acquired Gateway Place Apartments, a 142-unit community in East Dallas, Texas. The property will be rebranded to Rise Gateway, and is situated in the desirable Garland submarket in Dallas. The acquisition adds to the company’s impressive portfolio, bringing its total number of properties to 56 since its founding in 2019.
“We’re excited to have added a great asset to our DFW portfolio,” said Zach Haptonstall, CEO and Co-Founder of Rise48 Equity. “This deal presents a great basis with significant upside in a submarket we know well. Thank you to all of our investors who partnered with us on this opportunity. We’re now focused on executing the business plan and getting to work.”
Rise48 Equity plans to spend over $3.4 Million to renovate Rise Gateway, aiming to elevate the living experience for residents and increase the property’s value. Planned enhancements include:
- Interior Upgrades: 57% of the units (82) will receive Platinum-level renovations, featuring modern white shaker cabinetry, quartz countertops, subway tile backsplashes, updated plumbing fixtures, stainless steel appliances, vinyl plank flooring, and contemporary lighting.
- Exterior Enhancements: The property will showcase a new look with fresh three-tone paint, a LED-backlit monument sign, and updated marketing banners.
- In-Unit Amenities: Washers and dryers will be installed in every unit, enhancing convenience for all residents.
Rise48 Equity’s latest acquisition underscores its strategic growth in the Dallas-Fort Worth market. The company continues to seek opportunities in thriving submarkets, providing its investors with strong returns through value-add improvements and expert property management.
ABOUT RISE48 EQUITY:
Rise48 Equity is a Multifamily Investment Group with local offices in Phoenix, AZ, Dallas, TX, and Charlotte, NC. “At Rise48 Equity, we provide opportunities for accredited and non-accredited investors to protect and grow their wealth and achieve passive cash-flow. Our team brings expertise to acquire, reposition and return capital to investors upon reaching our business plan. Through our research and strategically formed partnerships, we acquire commercial multifamily apartment properties, strategically add value to the properties, and create passive income for our investors through cash-flow and profits from sale.”
For more information about Rise48 Equity, visit their website: rise48equity.com
