PHOENIX, Nov. 1, 2024 /PRNewswire/ — Rise48 Equity, a multifamily investment group headquartered in Phoenix, Arizona, has announced the launch of its new third-party fee management company, Rise48 Residential. This expansion marks a significant step in the company’s growth, as Rise48 Residential has already taken on the management of four properties in Dallas and Fort Worth, TX, with plans to expand further in Q4.
After establishing a presence in the Dallas market in 2022 and expanding to North Carolina earlier this year, Rise48 Equity continues to strengthen its footprint by diversifying into property management. Rise48 Residential is a full-suite professional property management company, equipped with a full-time, experienced team specializing in operations, financial reporting, and marketing. The company focuses on assets built from the 1960s to the early 2000s, delivering tailored management solutions to optimize property performance.
Zach Haptonstall, CEO & Co-Founder of Rise48 Equity said, “We’ve recently had numerous lenders reach out to us saying they’re very happy with how we manage and operate the assets we currently own as a borrower, and these same lenders have asked us to help take over third-party fee management for other assets that they have foreclosed on from other borrowers. We saw an opportunity to expand on what we do best, which is manage and execute value-add business plans on existing multifamily properties.
The launch of Rise48 Residential allows us to share and expand our proprietary methods to third parties for marketing, recruiting staff, hiring, training, controlling supply chain, and executing on business plans. In Q4 we are taking over third-party management for other property owners in Arizona and have more assets in the pipeline from lenders coming in Texas. We will serve property owners and lenders in the Southwest, Southeast, and Texas markets for third-party fee management.
Our goal is to manage 50,000 units nationwide in the next 5 years for third parties. We will continue to grow our investment platform Rise48 Equity where we acquire and manage assets that we own.
Launching Rise48 Residential allows us to extend our high standard of property management to more communities, ensuring we can drive value not only for investors and lenders, but most importantly for residents,” said Zach Haptonstall, CEO & Co-Founder of Rise48 Equity. “We’re excited to bring this level of expertise to Dallas and are committed to continued growth in this market and beyond.”
Rise48 Residential provides a comprehensive range of services, including operations, financial planning & analysis, human resources, advanced data analytics, and marketing, designed to streamline operations and enhance asset value.
The company aims to bring its unique blend of operational expertise and strategic focus to each property it manages, ensuring maximum returns for investors and a high-quality living experience for residents.
About Rise48 Equity:
Rise48 Equity has completed over $2.3 Billion+ in total transactions and purchased 54 assets, 10,000+ units since 2019. They currently have $1.8 Billion+ of Assets Under Management in Phoenix, AZ and Dallas, TX. They have completed 11 Full-Cycle Dispositions and returned capital to investors. The company has 240+ full-time W2 employees on full healthcare benefits.
Rise48 Equity provides multifamily investment opportunities for accredited investors to protect and grow their wealth and achieve passive cash-flow. The team brings expertise to acquire, reposition and return capital to investors upon reaching the business plan.
Rise48 Communities is the vertically integrated property management company that manages all assets owned by Rise48 Equity. The company does all of the construction management, property management, and asset management in-house.
For more information about Rise48 Equity, visit their website: rise48equity.com
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SOURCE Rise48 Equity
