Rise48 Equity acquired Gateway Place Apartments, a 142-unit community in East Dallas, Texas.
The property will be rebranded to Rise Gateway and is situated in the desirable Garland submarket in Dallas. The acquisition adds to the company’s impressive portfolio, bringing its total number of properties to 56 since its founding in 2019.
Rise48 Equity plans to spend over $3.4 Million to renovate Rise Gateway, aiming to elevate the living experience for residents and increase the property’s value. Planned enhancements include:
- Interior Upgrades: 57% of the units (82) will receive Platinum-level renovations, featuring modern white shaker cabinetry, quartz countertops, subway tile backsplashes, updated plumbing fixtures, stainless steel appliances, vinyl plank flooring, and contemporary lighting.
- Exterior Enhancements: The property will showcase a new look with fresh three-tone paint, a LED-backlit monument sign, and updated marketing banners.
- In-Unit Amenities: Washers and dryers will be installed in every unit, enhancing convenience for all residents.
