Rise48 Equity – the fastest growing multifamily investment group in Phoenix, has acquired 13 new apartment properties since January of 2022, totaling over $759,000,000, which adds 2,750 units to their portfolio.

These new properties include; Rise at Estrella Park (*formerly Portola West Valley), Rise at The Lofts (*Plaza 550), Rise North Ridge (*Standard West), Rise Trailside (*Standard 59), Rise on Country Club (*Standard on Country Club), Rise Canyon West (*GC Square), Rise North Mountain (*19 Rail), Rise at Dobson Ranch (*Standard Dobson Ranch), Rise at The Palms (*Royal Palms), Rise Broadway (*The Nolan), Rise at The District (*Indian Springs), Rise Lakeside (*Waterfront), and most recently Rise Encore (*202 Encore & 59 Roosevelt).

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The company plans to spend over $63,000,000 renovating the interiors and exteriors of their 13 newest acquisitions, and are in the process of rebranding all of the assets to the Rise name. The company will upgrade the properties with fresh 3-tone exterior paint, new monument signs with LED backlight to improve the curb appeal at all of the new communities. Rise48 Equity is also in the process of renovating the interiors of the properties to the Rise48 Equity Platinum level finishes, which includes brand new quartz countertops, stainless steel appliances, white shaker doors, modern lighting and fixtures, upgraded plumbing, and more. Exterior projects such as landscaping, pools, offices, playgrounds, and fitness centers at some of the new properties will be upgraded as well.

All of these multifamily properties are located in the Phoenix MSA, and are now being managed by Rise48 Equity’s vertically-integrated property management company, Rise48 Communities.

Rise48 Equity also successfully executed their business plan and has sold 6 properties so far in 2022 valued at over $174,000,000 and 682 units. The company is pleased to have exceeded their return projections in less than half of the projected time period for all of the properties that they have sold so far.

The 6 properties sold so far in 2022 include Rise Metro, Rise on Peoria, Rise Downtown Mesa, Scottsdale 5th Ave, Rise on Thomas, and most recently, Rise Melrose. All but one of these properties were 1031 Exchanges, so Rise48 Equity’s investors have the option of deferring their capital gains tax.

Rise48 has completed a whopping $933,000,000 worth of total transactions in 2022 alone, and is the #1 Buyer of Apartments in Arizona in the past 12 months. 

Rise48 CEO, Zach Haptonstall, said “We’re grateful to all of our investors who have partnered with us and to our 130+ full-time employees who have made it possible for the team to have a strong first half of the year. Our emphasis going into the second half of the year is continuing to build infrastructure in order to execute our business plans and offer conservative investments with the strongest possible returns. As interest rates rise and the US economy heads toward recession, we are very optimistic about the strong fundamentals of population growth, job growth, and rent growth in the Phoenix metro for value-add affordable housing. We will continue to pursue new acquisitions where it makes sense with our conservative financing strategy.”

Rise48 Equity was formed in 2019 by Zach Haptonstall, Bikran Sandhu, and Robert Szewczyk. The company is based locally in Phoenix with an office in North Scottsdale. Since 2019, they have completed over $1.5 Billion worth of apartment transactions and purchased over 6,000+ units in the Phoenix metro.

Rise48 Equity is a Phoenix based Multifamily Investment Group. “At Rise48 Equity, we provide opportunities for accredited and non-accredited investors to protect and grow their wealth and achieve passive cash-flow. Our team brings expertise to acquire, reposition and return capital to investors upon reaching our business plan. Through our research and strategically formed partnerships, we acquire commercial multi-family apartment properties, strategically add value to the properties, and create passive income for our investors through cash-flow and profits from sale.”