Rise48 Equity has recently acquired two rental communities in Charlotte, North Carolina – the W Flats Apartments (247 units) and Matthews Pointe Apartments (100 units). These properties will now be known as “Rise Blue Ridge” and “Rise Matthews Pointe,” respectively.
This marks Rise48 Equity’s 52nd and 53rd acquisitions since 2019, as well as their first ventures into the Charlotte MSA. According to Zach Haptonstall of Rise48 Equity, this move is a strategic one due to North Carolina’s strong fundamentals such as population growth, job growth, and high median income paired with affordable rents.
To revitalize these newly acquired properties, Rise48 Equity plans on investing over $7 million in renovations. Upgrades will include quartz countertops, kitchen backsplashes,
plumbing fixtures,
stainless steel appliances,
vinyl plank flooring,
and updated lighting.
Exterior improvements are also planned such as new paint jobs for both buildings along with a modern LED-backlit monument sign
and improved marketing banners.
The article originally appeared on Connect CRE but has been edited for SEO purposes.
