Rise48 Equity buys Revival on Indian School for $18.4M

Rise48 Equity introduced its eleventh acquisition in Phoenix since 2019, Revival on Indian School Apartments, a 96-unit multifamily condominium property situated in Phoenix, Arizona. The sale value was $18,400,000.
Revival on Indian School has a unit mixture of 100% 2 bedrooms, with a mean flooring plan of 1,030 SF. The property is at the moment at 99% occupancy, full with 2 resort type swimming pools, a health heart, and in-suite washer and dryers in each unit.

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Rise48 Equity plans to spend over $1,000,000 renovating the property together with their inside renovation program, new exterior paint, and landscaping. They can even focus on rebranding the property as ‘Rise Melrose’ and implement a brand new monument signal and advertising. Rise48 Equity has accomplished $188,600,000 in complete transactions since 2019, and at the moment has $148,600,000 of Assets Under Management, all within the Phoenix MSA. They are on observe to spend over $250,000,000 on new condominium acquisitions in 2021.
Rise48 Equity CEO, Zach Haptonstall, stated “We’re very excited to have added Revival on Indian School Apartments to our portfolio. We love the unit combine and huge flooring plans, and we’re assured that we have now a conservative marketing strategy with plenty of upside. We’re able to get to work for our buyers.”
Rise48 Equity (http://www.rise48equity.com) is a Phoenix primarily based Multifamily Investment Group. “At Rise48 Equity, we offer alternatives for accredited and non-accredited buyers to guard and develop their wealth. Our group brings experience to amass, reposition and return capital to buyers upon reaching our marketing strategy. Through our analysis and strategically shaped partnerships, we purchase industrial multi-family condominium properties, strategically add worth to the properties, and create passive revenue for our buyers by means of cash-flow and income from sale.”

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