Rise48 Equity Snaps Up 323-Unit DFW Asset
The buyer plans to invest north of $9 million in property improvements.
In its ninth Dallas market trade, Rise48 Equity has purchased Copperfield Apartments, a 323-unit community in Fort Worth, Texas, from MLG Capital. The seller had acquired the asset in 2019, in a value-add deal. Over the course of 5 years, MLG has renovated more than 100 of the property’s units, overhauled the clubhouse and swimming pool and added an outdoor firepit.
Completed in 1984, the community comprises one- and two-bedroom floorplans, ranging between 525 and 1,067 square feet, across 10 buildings. Apartments feature renovated kitchens and bathrooms, as well as breakfast bars. Select units include walk-in closets, fireplaces, interior storage space, patios and balconies. Community amenities consist of a swimming pool, an outdoor grilling area, a gym, laundry facilities, electric vehicle charging stations and a business center.
A Fort Worth value-add community
With more than $9 million earmarked for capital expenditure, Rise48 plans to make both interior and exterior renovations. Planned improvements include interior lighting reworks and plumbing fixtures, as well as swimming pool upgrades.
Located on more than 9 acres at 6051 S. Hulen St., the property is 3 miles south of Interstate 20, as well as roughly 10 miles southwest of downtown Fort Worth. Local employers include Lockheed Martin, Naval Air Station Joint Reserve Base Fort Worth and Baylor Scott & White All Saints Medical Center, all within a 10-mile radius. Hulen Mall is roughly 1 mile away.
The community is also less than 10 miles from the construction site of The Vickery, a 307-unit multifamily development rising in downtown Fort Worth. Trademark Property Co. expects to open the community in the spring of 2026.
