SCOTTSDALE, Ariz., July 3, 2024 /PRNewswire/ -- Rise48 Equity, a
leading multifamily investment group, recently announced their
recent acquisitions of W Flats Apartments (247 units) and
Matthews Pointe Apartments (100 units) in Charlotte, NC. Both properties will be
rebranded to "Rise Blue Ridge" and "Rise Matthews Pointe,"
respectively and are located in premium submarkets within the
Charlotte MSA.
These acquisitions mark a significant milestone as the company's
52nd and 53rd acquisitions since 2019 and its first two deals in
the Charlotte MSA, expanding their footprint to the East Coast.
Rise48 Equity has plans to revitalize W Flats Apartments and
Matthews Pointe Apartments with an investment of over $7 million. Property renovations at both
properties will include:
- Platinum-level 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 improved marketing banners.
Rise48 Equity CEO and Co-Founder, Zach Haptonstall, said
"We're excited to have entered the North
Carolina market with these two new acquisitions.
North Carolina has been a market
that we've been targeting for a while due to its strong
fundamentals of population growth, job growth, and strong median
income relative to the affordable rents. We have strong local staff
and the foundation to scale in the market for years to come. Thank
you to all of our investors for partnering with us on these two
great opportunities. Our Charlotte
team has already started on the business plans for these two
assets."
About Rise48 Equity:
Rise48 Equity is a multifamily investment group with offices in
Phoenix, Dallas, and Charlotte. Dedicated to empowering accredited
and non-accredited investors, the company focuses on creating
wealth-building opportunities while delivering exceptional living
experiences for residents. Rise48 Equity's expertise in
acquisition, repositioning, and capital management delivers
strategic returns for its partners. Since 2019, Rise48 Equity has
transacted over $2.27 billion and
currently holds over $1.83 billion in
assets under management—all overseen by its vertically integrated
property management company, Rise48 Communities.
Contact: Scottsdale Corporate Headquarters - Rise48 Equity
Phone: (602) 679-7209
Company Website: www.Rise48Equity.com
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SOURCE Rise48 Equity