Rise48 Equity Expands in Dallas with Acquisition of Garland Multifamily Property
Rise48 Equity has expanded its Dallas-area portfolio with the off-market acquisition of a 248-unit multifamily community located in Garland, Texas. Formerly known as Shiloh Oaks Apartments, the property will be rebranded as Rise Apollo Heights.
Originally built in 1983, the community was acquired at a more than 30% discount from its peak valuation, which dates back 18 to 36 months prior to the transaction.
As part of its value-add strategy, Rise48 Equity plans to renovate 217 of the units—approximately 88% of the property—to its signature Diamond Level finish. These upgrades will include the installation of stainless steel appliances, modern LED lighting, white shaker cabinet doors, resurfaced countertops, updated plumbing fixtures, and new vinyl plank flooring. Additionally, all 248 units will receive new in-unit washers and dryers.
The exterior of the property will also undergo significant improvements, including a full repaint, upgraded landscaping, restoration of the pool deck, and new pool furniture. The leasing office and clubhouse will be modernized, and new signage and branding elements will be added to elevate the property’s curb appeal and enhance its community identity.
