Rise48 Equity acquired The Lure Apartments, a 144-unit multifamily community in Dallas.
The property will be rebranded to “Rise Highland Park” and is located in the premium Uptown Dallas submarket within the Dallas MSA.
This acquisition marks a significant milestone as the company’s 54th acquisition since 2019.
Rise48 Equity has plans to revitalize The Lure Apartments with an investment of over $3.5 Million. Property renovations at the property will include:
- Platinum-level scope of interior upgrades: New white cabinet boxes with shaker doors, quartz countertops, subway style kitchen backsplash, plumbing fixtures, stainless-steel appliances, vinyl plank flooring, and updated lighting.
- Transformative exterior: Fresh 3-tone paint, a new LED-backlit monument sign, and brand new marketing banners around the property.
- Install washers and dryers into 84% of the units.
