Zach Haptonstall Of Rise48 Equity Acquires 108-Unit Multifamily Property In Phoenix

Rise48 Equity has acquired a 108-unit multifamily property located at 17840 North Black Canyon Highway in North Phoenix. The asset will be rebranded as Rise at the Northern. The firm intends to implement light value-add renovations, which will include new resident services and operational upgrades, with a target of achieving an estimated $89 per-unit rent increase while maintaining affordability.

Summary of transaction details:

• Property Type: Multifamily
• Transaction Amount: Undisclosed
• Units: 108
• Address: 17840 North Black Canyon Highway
• Market: Phoenix, AZ
• Buyer: Zach Haptonstall - Rise48 Equity

Zach Haptonstall, representing Rise48 Equity, is focused on enhancing the property’s value through strategic renovations and improved operations. The firm aims to implement resident services that align with their affordability objectives while enhancing the living experience at the newly branded Rise at the Northern.