Rise48 Equity Acquires Metroplex Community

Rise48 Equity has acquired Fielder’s Glen, a 220-unit multifamily community in Arlington, Texas, from Western Wealth Capital. Marcus & Millichap represented the seller in the transaction and secured the acquisition financing.

The asset previously changed hands in 2021. That same year, it became subject to a $17.1 million CMBS loan originated by Berkadia Commercial Mortgage, according to Yardi Matrix data. The note carries a 2028 maturity term.

Completed in 1985, the property encompasses 14 two-story buildings with one- and two-bedroom floorplans ranging from 480 to 996 square feet.

Apartments at Fielder’s Glen feature walk-in closets and additional storage, with select layouts including fireplaces, washers and dryers, and private patios or balconies. Common-area amenities comprise grilling stations, a 24-hour fitness center, two swimming pools, a clubhouse and picnic areas.

Located at 3601 Fielders Glen Drive, the 10-acre property is 16 miles from downtown Fort Worth and 27 miles from downtown Dallas. The community is also some 10 miles south of Dallas-Fort Worth International Airport and within walking distance of The Parks Mall at Arlington.

Marcus & Millichap Senior Managing Director Al Silva and Senior Vice President Ford Braly represented the seller and procured the buyer. Senior Managing Director Brandon Brown arranged the acquisition financing.

Metroplex’s investment volume halves

In the first four months of this year, more than 3,570 units changed hands in Dallas–Fort Worth across 20 properties for a combined $500 million, according to Yardi Matrix information. The sales volume marks a considerable drop from the same period of 2023, when 27 assets traded for more than $1.1 billion.

Last month, Rise48 completed its 50th acquisition in the U.S. with the purchase of Mosaic Apartments, a 288-unit property in Haltom City, Texas, also in the Metroplex area. The company’s portfolio comprises more roughly $1.8 billion in assets.