Rise48 Equity Expands to New Charlotte, NC Market

Tuesday, May 07, 2024 05:40 PM | PR Newswire via QuoteMedia

PR Newswire

SCOTTSDALE, Ariz. , May 7, 2024 /PRNewswire/ -- Rise48 Equity, a multifamily investment group headquartered in Phoenix, Arizona , expanded to Dallas, TX in 2022, and is making their next move into the North Carolina market. The company plans on acquiring at least 750+ units in North Carolina by the end of 2024.

Zach Haptonstall , CEO & Co-Founder of Rise48 Equity said, "We see great potential in North Carolina with similar fundamentals to Dallas and Phoenix , and we're excited to provide diversification for our investors as we focus on investments in the North Carolina , Dallas , and Phoenix markets going forward. North Carolina has been a very competitive market the past several years, and we see the next 12 months as a window of opportunity to enter the market and acquire cash flowing assets at major discounts from distressed sellers while much of the competition is on the sidelines."

To support their expansion, Rise48 Equity has recently opened an office in the prestigious South Park submarket in Charlotte and has hired local staff.

The company has 240+ full-time W2 employees on full healthcare benefits in their Phoenix and Dallas offices. Phoenix still serves as Rise48 Equity's home base for their corporate headquarters, and their Dallas office continues to grow.

"We have two of our trusted and key employees in the Phoenix market who have permanently relocated to Charlotte to oversee operations and construction management. It's great to have solid and tenured team members to plug in right away and hit the ground running in North Carolina . We will implement the same value-add business plan, acquisition criteria, and operations processes in North Carolina that we have in Dallas and Phoenix . Our Dallas and Phoenix staff and operations are stronger than ever and we're well-positioned to continue executing our business plans across our portfolio in Phoenix , Dallas , and North Carolina ," said Haptonstall.

About Rise48 Equity:

Rise48 Equity is a multifamily investment firm with a proven track record, having completed over $2.21 billion in transactions and currently holding over $1.78 billion in assets under management. The company offers investors opportunities for passive income through strategic acquisition and repositioning of multifamily properties. With a vertically integrated structure, Rise48 Equity handles all aspects of property management and construction in-house, ensuring streamlined operations and maximized returns.

For more information, visit rise48equity.com