HALTOM, TX - Rise48 Equity, a leading multifamily investment group, announced the acquisition of Mosaic Apartments in the DFW area of Texas. This 288-unit complex marks a significant milestone as the company's 50th acquisition since 2019 and its 10th in the Dallas MSA, further expanding their strong presence in Texas.
Rise48 Equity has plans to revitalize Mosaic Apartments, soon to be rebranded Rise Fossil Creek, with an investment of over $7 million. Property renovations include:
Platinum-level interior upgrades: New shaker doors, quartz countertops, plumbing fixtures, stainless steel appliances, vinyl flooring, and updated lighting.
Transformative exterior: Fresh 3-tone paint, pool area improvements, leasing office & clubhouse upgrades, landscaping enhancements, a new LED-backlit monument sign, and new marketing banners.
Rise48 Equity CEO and Co-Founder, Zach Haptonstall, said "We're excited to have acquired Mosaic Apartments off-market at a great basis. It's a very strong submarket and a great asset with a lot of upside. We want to thank our investors for partnering with us on this deal, and we will immediately begin to execute our business plan."
Source: Rise48 Equity