Rise48 Equity Celebrates 54th Acquisition - Rise Highland Park
Rise48 Equity, a leading multifamily investment group, announced their recent acquisition of The Lure Apartments (144-unit multifamily community) in Dallas, TX. The property will be rebranded to “Rise Highland Park” and is located in the premium Uptown Dallas submarket within the Dallas MSA.
This acquisition marks a significant milestone as the company’s 54th acquisition since 2019. Read about previous acquisitions on Rise48’s press page. Rise48 Equity has plans to revitalize The Lure Apartments with an investment of over $3.5 Million. Property renovations 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, vinyl plank flooring, and updated lighting.
- Transformative exterior: Fresh 3-tone paint, a new LED-backlit monument sign, and brand-new marketing banners around the property.
- Install washers and dryers into 84% of the units.
Rise48 Equity CEO and Co-Founder, Zach Haptonstall, said “We’re excited to have acquired this property at a great basis off-market. The combination of the premium location in Uptown Dallas, the 1998 vintage, and the significant value-add upside made this a great opportunity for our investors. We have already started to execute on the business plan immediately after takeover and are looking forward to working hard to serve our investors. Thank you to all of our investors who partnered with us on this deal.”
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 $2.30 Billion+ in total transactions, and currently has $1.86 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
