Rise48 Equity Buys DFW Community
This deal marks the company’ 50th acquisition.

Rise48 Equity has acquired Mosaic Apartments, a 288-unit community in Haltom City, Texas, a Dallas-Fort Worth submarket. This marks the company’s 50th acquisition across the U.S.
Knightvest Capital was the previous owner, according to Yardi Matrix information. The firm had purchased the asset in September 2015 from Hall Financial Group, using funds from a $16.1 million Freddie Mac loan.
Mosaic Apartments came online in 1986, featuring 19 two- and three-story buildings spread across 10 acres. The unit mix comprises one- and two-bedroom layouts ranging between 569 and 955 square feet. Common-area amenities include two swimming pools and a spa, two laundry facilities and some 600 parking spaces.
The firm plans to rebrand the property as Rise Fossil Creek and implement a $7 million capex plan. Upgrades call for quartz countertops, plumbing fixtures and stainless steel appliances, as well as pool area and clubhouse improvements and landscaping enhancements.
The garden-style property is at 5600 N. Beach St., close to a host of dining and retail options, including the Fossil Creek Plaza, and some 8 miles from downtown Fort Worth, Texas. Dallas-Fort Worth International Airport is 18 miles away.
Rise48 Equity’s current portfolio comprises nearly $1.8 billion in assets under management, totaling about 9,440 units. Last month, the company acquired a 323-unit property in Fort Worth that is roughly 21 miles from Rise Fossil Creek.
Multifamily sales volume drops year-over-year
Dallas-Fort Worth saw 21 communities—about 3,700 units—trading year-to-date through March amounting to almost $380 million, according to Yardi Matrix information. This represents a steep decline from the 34 communities totaling 7,160 units that changed hands during the same period of 2023 for a total of $654.3 million. The price per unit also dropped year-over-year from $143,962 to $124,729.
In one of this year’s deals, Sentinel Peak Capital Partners sold Eleven600, a 216-unit community in Dallas, for $21 million. The garden-style property came online in 1981 and features 15 two-story buildings.
In March, the partnership of Waterford Property Co., Northern Liberties, The Vistria Group and Dallas Housing Finance Corp. acquired Domain at Midtown Park, a 395-unit community in North Dallas. The new ownership plans to convert the property to workforce housing.