Elevest Capital and Rise48 Equity Seal Growth-Driven Sunbelt Acquisition with Fund 61 Closure

In a significant move that firmly establishes their foothold in the dynamic Sunbelt region, Elevest Capital, along with Rise48 Equity, recently celebrated the successful closure of Fund 61. This marks a new leaf in their investment efforts through the acquisition of a 154-unit, Class B+ apartment community situated in the burgeoning city of Mesa, Arizona. This strategic transaction not only enriches Elevest Capital’s portfolio but also speaks volumes about their determined zeal for expansion in areas ripe with potential.

Mesa’s consistently strong demographic trends, characterized by rapid population growth and a diversified job market, present an opportune backdrop for this promising acquisition. The B+ submarket presents fertile ground for sustainable rental demand, making the property a beacon of well-placed confidence for generating enduring value and steady cash flow from inception. The well-located asset not only promises a robust financial future but also aligns with a broader vision of community and prosperity.

In the words of Adam Williams, Founder and CEO of Elevest Capital, “We’re thrilled to expand into Mesa with a property that checks every box—location, quality, and growth potential.” His enthusiasm is rooted in the synergy between Elevest Capital’s growth-oriented investment strategy and Rise48 Equity’s operational dexterity, speaking volumes about the collaboration’s potential to foster investment worth and enrich resident experiences.

With Rise48 Equity at the helm as the owner and operator, a concerted enhancement plan awaits the property. This includes a suite of interior renovations, amelioration of amenities, and operational streamlining—all with the aim to raise the bar for resident living standards while bolstering property performance for the long haul.

Dana Williams, COO of Elevest Capital, further underscores the partnership’s significance by stating, “This collaboration represents our focus on forging strong partnerships that benefit all investors.” The statement highlights the trust placed in Rise48 Equity’s reputation for executing renovations that not only refresh communities but also maximize the property’s intrinsic value.

As the multifamily housing sector continues to evolve, it’s evident that strategic collaborations, such as the one between Elevest Capital and Rise48 Equity, serve as a substantial driving force in the realization of collective investment goals whilst contributing to the social fabric of local communities.