Rise48 Equity Hits $2 Billion+ in Transactions with 45th Multifamily Investment
Rise48 Equity has acquired their 45th apartment complex since 2019 –Creekside at North Lake Apartments located in Dallas, Texas. This is their fifth acquisition in the Dallas market.
Creekside at North Lake is a 228-unit multifamily apartment property located in Dallas, Texas.
Rise48 Equity plans to spend over $5,000,000 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, white shaker doors, and more.
Rise48 Equity will transform the look of the property with fresh 3-tone exterior paint, carport repairs, new marketing signage, leasing office upgrades, and fresh landscaping. The company will also upgrade the property’s pool area and dog park. Creekside at North Lake Apartments will be renamed “Rise Creekside” 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 really excited to be able to acquire this 2001 vintage asset in an A–class location of the Dallas-Fort Worth MSA. Historically we haven’t been able to make these early 2000 vintage deals pencil, but due to the current interest rate environment we were able to source the deal at a basis that makes sense. The deal has significant value-add upside where we’ll implement our same business plan that we always do. It’s rare to find this vintage of a deal with value-add upside and make it work economically. We had extremely strong demand from investors on this one and we’re excited to get to work on executing the plan.”
About Rise48 Equity:
Rise48 Equity (https://www.rise48equity.com) 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 multi-family 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 $2.03 Billion+ in total transactions, and currently has $1.59 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 (http://www.rise48communities.com).