Elevest Capital and Rise48 Equity's New Multifamily Acquisition in North Carolina

Elevest Capital, a well-established player in real estate investments, has made significant strides recently by announcing the successful closure of Fund 62 in collaboration with Rise48 Equity. This marks a notable venture into the competitive real estate market, specifically through the acquisition of a two-property multifamily portfolio located in the vibrant cities of Chapel Hill and Greensboro, North Carolina.

This strategic investment is part of Elevest Capital's broader plan to expand into high-growth markets while simultaneously reinforcing their commitment to providing value-driven opportunities for investors. As the CEO and founder Adam Williams highlights, “We’re thrilled to expand into North Carolina with assets that offer an exceptional blend of stability, upside potential, and long-term market strength.” This acquisition is particularly noteworthy as it demonstrates Elevest’s capability to identify quality investment opportunities, even amid intense competition.

The investment portfolio acquired consists of 263 units classified as B+ multifamily assets, which indicate properties that provide a balance between quality, management, and rental cost. This acquisition is poised to deliver promising returns, especially considering the ongoing growth in the area, leading to increased demand for rental housing.

As part of the acquisition plan, Rise48 Equity will take an active role as both owner and operator of the properties. The firm is expected to implement a comprehensive renovation strategy designed to elevate both operational performance and the overall resident experience. These planned upgrades include full interior renovations, the installation of in-unit washers and dryers, and enhancements to property amenities, which collectively aim to improve the quality of living while maximizing property value.

Dana Williams, the President of Elevest Capital, elaborates, stating, “This collaboration reflects the strength of our partnership with Rise48 and the power of disciplined, strategic acquisitions. With conservative leverage, thoughtful improvements, and strong local demand, we’re confident in our ability to generate compelling results for our investors.” This sentiment is echoed in the overall approach Elevest takes towards real estate investment, focusing on disciplined practices and hands-on asset management to ensure stable, long-term returns for their investors.

Elevest Capital positions itself as a key player in the private equity landscape, specifically targeting multifamily investments across the U.S. The firm operates out of Scottsdale, Arizona, focusing on markets that are growth-oriented. Elevest prides itself on delivering curated investment opportunities, carefully assessing each venture to ensure its alignment with long-term goals and the interests of its investors.

With this latest acquisition and ongoing commitment to high-quality investments, Elevest Capital continues to build on its reputation as a reliable partner in the multifamily real estate sector. For more information, you can visit their website at Elevest Capital.

As the real estate market continues to evolve, and investment opportunities become increasingly appealing in strategically located areas like North Carolina, firms like Elevest Capital and Rise48 Equity are leading the charge, showcasing what successful partnerships can achieve in building robust investment portfolios.