Rise48 Equity Grows Dallas Portfolio with 55th Acquisition of Rise Hillcrest Apartments
Rise48 Equity, a leading multifamily investment group, announced their recent acquisition of Saddletree Apartments (224-unit multifamily community) in Dallas, TX. The property will be rebranded to “Rise Hillcrest” and is located in the premium East Dallas submarket within the Dallas MSA.
This acquisition marks the company’s 55th acquisition since 2019. Read about previous acquisitions on Rise48’s press page.
Rise48 Equity has plans to revitalize Saddletree Apartments with an investment of over $6.5 Million. Property renovations of 100% of the units at the property will include:
- Platinum-level scope of interior upgrades: New white cabinet boxes with shaker doors, quartz countertops, subway style kitchen backsplash, plumbing fixtures, stainless-steel appliances, new sinks, vinyl plank flooring, and updated lighting features.
- Transformative exterior: Fresh 3-tone paint, a new LED-backlit monument sign, and brand new marketing banners around the property.
- Add washers and dryers into 57% (127 units) of the units.
Rise48 Equity CEO and Co-Founder, Zach Haptonstall, said “We’re excited to have added a great asset to our DFW portfolio. This deal presents a great basis with a lot of upside in a submarket that we know well. Thank you to all of our investors who partnered with us on this opportunity, and we’re now focused on executing the business plan and getting to work.”
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.”
Since 2019, Rise48 Equity has completed over $2.33 Billion+ in total transactions, and currently has $1.88 Billion+ assets under management located in Phoenix, Dallas, and Charlotte. All of the company’s assets under management are managed by Rise48 Equity’s vertically integrated property management company, Rise48 Communities.
For more information about Rise48 Equity, visit their website: rise48equity.com
