GARLAND, TEXAS — Rise48 Equity has acquired the 248-unit Shiloh Oaks Apartments in Garland, 14 miles northeast of Dallas. The new owners will rebrand the asset Rise Apollo Heights. This deal, an off-market transaction, marks Rise48’s 60th multifamily acquisition since the company’s founding in 2019.
Rise48 is planning a value-add program during its hold period of the 1983-constructed asset. The efforts will include upgrades to 217 of the units with new stainless steel appliances, LED lighting, white shaker cabinet doors, resurfaced countertops, updated plumbing fixtures and vinyl plank flooring. In addition, all 248 units will receive new in-unit washers and dryers. Exterior enhancements include repainting all facades, landscape upgrades, pool deck restoration, new pool furniture, leasing and clubhouse improvements and new signage and branding.