MESA, ARIZ. — Rise48 Equity has expanded its Arizona footprint with the purchase of a 154-unit apartment property in Mesa. Terms of the transaction were not released. Rise48 Equity will rebrand the property, formerly known as Emparrado Apartments, as Rise Mountain Ridge.
The company plans to renovate all of the units to its Diamond and Gold finish levels. Upgrades will include new stainless steel appliances, vinyl plank flooring, white Shaker cabinet doors, resurfaced countertops and modern plumbing and lighting fixtures. Additionally, 39 percent of the units (60 units) will receive in-unit washers and dryers. Rise48 will also implement exterior improvements, including updates to landscaping, pool and amenity spaces, signage and community branding.