Rise48 Equity Takes on Another Texas Multifamily Asset
Dallas suburb Bedford was the site of Rise48 Equity’s latest apartment acquisition. MRT Realty Group was the seller. The Point Loma Woods Apartments have 360 units. Rise48 Equity will rename the apartment complex “Rise Bedford Lake.” It’s the company’s second acquisition since opening its Dallas office. Prime Finance provided the debt on this transaction.
Rise48’s Zach Haptonstall added, “We employed our typical conservative financing strategy with low leverage and a low 3-year interest rate cap to mitigate against interest rate risk. This now puts us at 688 units in Dallas, and we’ll continue to build the portfolio this year. We’re immediately beginning the interior and exterior renovations and are looking forward to serving our investors.”
Rise48 Equity plans to spend more than $9 million transforming the property. The firm plans to restore the pool deck area by adding new sail shades and new pool furniture, landscaping, and covered parking.
Rise48 Equity Takes on Another Texas Multifamily Asset
Rise48 Equity Takes on Another Texas Multifamily Asset
Dallas suburb Bedford was the site of Rise48 Equity’s latest apartment acquisition. MRT Realty Group was the seller. The Point Loma Woods Apartments have 360 units. Rise48 Equity will rename the apartment complex “Rise Bedford Lake.” It’s the company’s second acquisition since opening its Dallas office. Prime Finance provided the debt on this transaction.
Rise48’s Zach Haptonstall added, “We employed our typical conservative financing strategy with low leverage and a low 3-year interest rate cap to mitigate against interest rate risk. This now puts us at 688 units in Dallas, and we’ll continue to build the portfolio this year. We’re immediately beginning the interior and exterior renovations and are looking forward to serving our investors.”
Rise48 Equity plans to spend more than $9 million transforming the property. The firm plans to restore the pool deck area by adding new sail shades and new pool furniture, landscaping, and covered parking.
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