Rise48 Equity Grows Texas Portfolio with Sixth Dallas Multifamily Investment
Rise48 Equity has acquired their 46th apartment complex since 2019 –Heather Ridge Apartments in Dallas, Texas. This is their sixth acquisition in the Dallas market.
Heather Ridge is a 252-unit multifamily apartment property located in Dallas, Texas.
Rise48 Equity plans to spend over $7,000,000 renovating the property’s exteriors and interiors. The company will upgrade unit interiors to the Rise48 Equity Platinum Level Finish, which includes brand new quartz countertops, plumbing fixtures, Stainless Steel appliances, vinyl flooring, modern lighting, and more.
Rise48 Equity will transform the look of the property with fresh 3-tone exterior paint, pool upgrades, leasing office upgrades, carport parking upgrades, and new marketing signage. The company will also upgrade the property’s landscaping and dog park. Heather Ridge Apartments will be renamed “Rise Heather Ridge” and rebranded with a new LED-backlit monument sign. The upgrades to this property will completely transform the look and will greatly increase the curb appeal to attract new residents.
Rise48 Equity CEO and Co-Founder, Zach Haptonstall, said “We’re excited to have sourced this deal off-market at a great basis for our investors. It checks every box we look for in a value-add opportunity and is positioned in a great location in the Arlington submarket nearby a few other properties we currently own to provide economies of scale for our operations and construction efforts. We look forward to getting to work right away to serve our investors and execute the business plan.”
About Rise48 Equity:
Rise48 Equity is a Multifamily Investment Group with local offices in Dallas, TX and Phoenix, AZ. “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.”
Since 2019, Rise48 Equity has completed over $2.06 Billion+ in total transactions, and currently has $1.62 Billion+ of Assets Under Management located in Phoenix and Dallas. All of the company’s assets under management are managed by Rise48 Equity’s vertically integrated property management company, Rise48 Communities.