SCOTTSDALE, Ariz., March 12, 2024 /PRNewswire/ — Rise48 Equity, a leading multifamily investment group, today announced the acquisition of Copperfield Apartments in Fort Worth, Texas. This 323-unit complex marks the company’s 49th acquisition since 2019 and its 9th in the Dallas market, further strengthening its Texas portfolio.
Rise48 Equity has plans to invest over $9 million in revitalizing Copperfield Apartments, which will soon be rebranded as Rise Spring Pointe. The property renovations include:
Copperfield Apartments in Fort Worth, Texas rebranding to Rise Spring Pointe.
Platinum-level interior upgrades: White shaker doors, Quartz countertops, plumbing fixtures, stainless steel appliances, vinyl flooring, and updated lighting.
Transformative exterior: Fresh 3-tone paint, pool area improvements, a redesigned leasing office, landscaping enhancements, and a new LED-backlit monument sign.
Rise48 Equity CEO and Co-Founder, Zach Haptonstall, said “We’re excited to have acquired Copperfield Apartments off-market at a very low basis. It presents a great value-add opportunity for us in a strong submarket in Fort Worth with a lot of growth. We want to thank our investors for partnering with us on this deal, and our team is hungry to get to work and execute the plan for our investors.
About Rise48 Equity:
Rise48 Equity is a multifamily investment group with offices in Dallas, TX, and Phoenix, AZ. The company empowers accredited and non-accredited investors to build wealth and generate passive income streams. Rise48 Equity’s expertise in acquisition, repositioning, and capital management delivers strategic returns for its partners. Since 2019, Rise48 Equity has transacted over $2.15 billion and currently holds over $1.71 billion in assets under management—all overseen by its vertically integrated property management company, Rise48 Communities.
SOURCE Rise48 Equity