AZ Big Media Rise48 Equity buys over $60M Metro Phoenix condo in 7 days

Rise48 Equity has acquired a new $60,200,000 condo community in the Phoenix, Arizona market.

• Aspire Glendale Apartments is a $29,200,000, 120-unit, multi-family condominium property located in Glendale, Arizona.

• Brookfield Apartments is a $31,000,000 124-unit multifamily property in Phoenix, Arizona.

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Rise48 Equity plans to spend over $6,600,000 renovating the property’s exterior and interior. They’ll upgrade the interior of the unit to a Rise48 Equity Platinum finish, which includes new quartz countertops, a modern lighting package, new stainless steel appliances, a beautiful kitchen backsplash, and more. The company will also upgrade the landscaping and transform the property’s appearance with a fresh 3-tone exterior paint. The properties will be renamed and each will feature a brand new monument sign with LED backlighting. They will rebrand Aspire Glendale as “Rise at The Meadows” and Brookfield as “Rise on Cactus”. These upgrades will revolutionize the property and increase curbside appeal to attract new residents.

Rise48 Equity has completed since 2019 The total transaction volume is $1,725,751,000, and there are currently Assets under management of $1,285,186,000, all located in Phoenix MSA. All assets under management of the company are managed by Rise48 Equity’s own property management company; Rise48 Community.

Zach Haptonstall, CEO of Rise48 Equity, said: “We are delighted to have acquired two new physical assets in separate over-the-counter transactions. We achieved attractive rates a few months ago through a conservative low-leverage financing strategy. In addition to In addition to their operational advantages, both properties have significant value-adding potential. We will implement our professional vertically integrated property management platform to substantially increase the value of these assets and bring great returns to our investors. We are interested in these excellent The opportunity has very strong investor demand.”

Rise48 Equity is a Phoenix-based multifamily investment group. “At Rise48 Equity, we offer accredited and non-accredited investors the opportunity to protect and grow wealth and achieve passive cash flow. Once our business plan is reached, our team will provide the expertise to acquire, reposition and Return capital to investors. Through our research and strategic partnerships, we acquire commercial multifamily properties, strategically add value to properties, and generate passive income for our investors through cash flow and sales profits. “

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