Rise48 Equity has recently completed its 54th acquisition since 2019 with the purchase of The Lure Apartments, a multifamily community in Dallas consisting of 144 units. The property will now be known as “Rise Highland Park” and is situated in the Uptown Dallas submarket within the larger Dallas MSA. With an investment of over $3.5 million, Rise48 Equity plans to revitalize The Lure Apartments through various renovations including:
– Upgrading interiors with features such as quartz countertops, kitchen backsplash, plumbing fixtures, stainless steel appliances, vinyl plank flooring and updated lighting.
– Enhancing exteriors by applying fresh paint and installing a new LED-backlit monument sign along with marketing banners around the property.
– Installing washers and dryers into 84% of the units.
According to Zach Haptonstall from Rise48 Equity: “The combination of this prime location in Uptown Dallas along with its vintage from 1998 and potential for significant value-add made this an excellent opportunity for our investors. We wasted no time executing on our business plan after taking over.”
