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CHAPEL HILL, N.C. — Rise48 Equity has acquired LYV Chapel Hill, a 144-unit, Class B apartment community in Chapel Hill. The investment firm has rebranded the property as Rise Chapel Hill. The seller and sales price were not disclosed. Built in 1984, Rise Chapel Hill is situated near the University of North Carolina at Chapel Hill, as well as multiple tech and research firms that have established a presence in North Carolina’s Research Triangle.
Rise48 plans to renovate all unit interiors with new washers and dryers, cabinetry, stainless steel appliances, countertops, flooring and lighting and plumbing fixtures. Exterior renovations will include paint, landscaping, signage and common area improvements.