Rise48 Equity
Rise48 Equity
Rise48 Equity is a private investment firm founded in 2019 by Zach Haptonstall, Bikran Sandhu and Robert Szewczyk, based in Scottsdale, Arizona. It invests directly in its own deals, has 58 current properties and 11 exits on file, and still has one deal open, Rise Fund IV.






About Rise48 Equity
Vertically integrated multifamily private equity firm focused on high-growth U.S. markets. Capital preservation strategy emphasizing cash flow and operational value creation.
- 69 properties bought since 2019 Counted
- 11 sold, each for 1.86× or more Confirmed by the firm
- 11,653 units owned today Counted · 58 properties
- $2.2B assets under management Stated by the firm
Track record
Every one of Rise48 Equity's 11 sales returned at least 1.86× the money invested.
Median 2.45×. Typical hold 1.5 years. Reviewed and confirmed by the firm. Past performance does not guarantee future results.
The firm's documents do not say whether these multiples are net to investors.
Where it has bought
All 69 properties: 58 still owned, 11 sold.
| Property | Place | Units | Bought | Sold | Returned |
|---|---|---|---|---|---|
| Scottsdale 5th Ave | Scottsdale, AZ | 59 | 2019 | 2022 | 3.42× |
| Rise Melrose | Phoenix, AZ | 96 | 2021 | 2022 | 2.02× |
| Rise Downtown Mesa | Mesa, AZ | 103 | 2021 | 2022 | 2.26× |
| Rise on Peoria | Glendale, AZ | 164 | 2021 | 2022 | 2.45× |
| Rise Metro | Phoenix, AZ | 160 | 2021 | 2022 | 2.45× |
| Paseo 51 | Glendale, AZ | 116 | 2020 | 2021 | 3.85× |
| Villa Serena | Phoenix, AZ | 137 | 2019 | 2021 | 3.00× |
| Rise on McDowell | Phoenix, AZ | 76 | 2019 | 2021 | 2.90× |
| Rise on Thomas | Phoenix, AZ | 100 | 2021 | 2021 | 1.86× |
| District Flats Off Dobson | Mesa, AZ | 112 | 2020 | 2021 | 1.95× |
| Silver Oaks Apartments | Phoenix, AZ | 36 | 2019 | 2020 | 1.91× |
| Rise Silver Lake | Raleigh, NC | 136 | 2026 | Still owned | |
| Rise at The Northern | Phoenix, AZ | 108 | 2026 | Still owned | |
| Rise Valley Heights | Mesa, AZ | 194 | 2026 | Still owned | |
| Rise Bluestone | Raleigh, NC | 268 | 2026 | Still owned | |
| Rise Avalon | Charlotte, NC | 240 | 2025 | Still owned | |
| Rise Westgrove | Raleigh, NC | 97 | 2025 | Still owned | |
| Rise Crown View | Greensboro, NC | 119 | 2025 | Still owned | |
| Rise Chapel Hill | Chapel Hill, NC | 144 | 2025 | Still owned | |
| Rise Mountain Ridge | Mesa, AZ | 154 | 2025 | Still owned | |
| Rise Apollo Heights | Garland, TX | 248 | 2025 | Still owned | |
| Rise Sunridge | Charlotte, NC | 200 | 2025 | Still owned | |
| Rise Stone Gate | Charlotte, NC | 144 | 2025 | Still owned | |
| Rise Bridgeview | Greensboro, NC | 240 | 2024 | Still owned | |
| Rise Gateway | Garland, TX | 142 | 2024 | Still owned | |
| Rise Hillcrest | Garland, TX | 224 | 2024 | Still owned | |
| Rise Highland Park | Dallas, TX | 144 | 2024 | Still owned | |
| Rise Matthews Pointe | Matthews, NC | 100 | 2024 | Still owned | |
| Rise Blue Ridge | Charlotte, NC | 247 | 2024 | Still owned | |
| Rise West Arlington | Arlington, TX | 220 | 2024 | Still owned | |
| Rise Fossil Creek | Haltom City, TX | 288 | 2024 | Still owned | |
| Rise Spring Pointe | Fort Worth, TX | 323 | 2024 | Still owned | |
| Rise at Town East | Mesquite, TX | 210 | 2023 | Still owned | |
| Rise Skyline | Mesquite, TX | 200 | 2023 | Still owned | |
| Rise Heather Ridge | Arlington, TX | 252 | 2023 | Still owned | |
| Rise Creekside | Northlake, TX | 228 | 2023 | Still owned | |
| Rise North Arlington | Arlington, TX | 270 | 2023 | Still owned | |
| Rise Oak Creek | Bedford, TX | 176 | 2023 | Still owned | |
| Rise Bedford Lake | Bedford, TX | 360 | 2023 | Still owned | |
| Rise Desert Cove | Phoenix, AZ | 186 | 2023 | Still owned | |
| Rise at Highland Meadows | Dallas, TX | 328 | 2023 | Still owned | |
| Rise on McClintock | Tempe, AZ | 112 | 2023 | Still owned | |
| Rise Suncrest | Tempe, AZ | 160 | 2022 | Still owned | |
| Rise on Cactus | Phoenix, AZ | 124 | 2022 | Still owned | |
| Rise at The Meadows | Glendale, AZ | 120 | 2022 | Still owned | |
| Rise Encore | Phoenix, AZ | 376 | 2022 | Still owned | |
| Rise Lakeside | Phoenix, AZ | 288 | 2022 | Still owned | |
| Rise at The District | Mesa, AZ | 460 | 2022 | Still owned | |
| Rise Broadway | Mesa, AZ | 288 | 2022 | Still owned | |
| Rise at The Palms | Glendale, AZ | 138 | 2022 | Still owned | |
| Rise at Dobson Ranch | Mesa, AZ | 120 | 2022 | Still owned | |
| Rise North Mountain | Phoenix, AZ | 137 | 2022 | Still owned | |
| Rise Canyon West | Phoenix, AZ | 165 | 2022 | Still owned | |
| Rise on Country Club | Mesa, AZ | 272 | 2022 | Still owned | |
| Rise North Ridge | Glendale, AZ | 130 | 2022 | Still owned | |
| Rise Trailside | Glendale, AZ | 60 | 2022 | Still owned | |
| Rise at The Lofts | Phoenix, AZ | 92 | 2022 | Still owned | |
| Rise at Estrella Park | Phoenix, AZ | 224 | 2022 | Still owned | |
| Rise on Cave Creek | Phoenix, AZ | 141 | 2021 | Still owned | |
| Rise Thunderbird | Phoenix, AZ | 203 | 2021 | Still owned | |
| Rise Westgate | Phoenix, AZ | 120 | 2021 | Still owned | |
| Rise Midtown | Phoenix, AZ | 200 | 2021 | Still owned | |
| Rise Skyview | Phoenix, AZ | 244 | 2021 | Still owned | |
| Rise at The Retreat | Tempe, AZ | 197 | 2021 | Still owned | |
| Rise Parkside | Glendale, AZ | 352 | 2021 | Still owned | |
| Rise Camelback | Glendale, AZ | 209 | 2021 | Still owned | |
| Rise Desert West | Phoenix, AZ | 204 | 2021 | Still owned | |
| Rise Biltmore | Phoenix, AZ | 161 | 2021 | Still owned | |
| Rise at The Preserve | Phoenix, AZ | 166 | 2021 | Still owned |
Team
The people behind the firm.
Zach Haptonstall
CEO and Co-Founder
Zach Haptonstall is the CEO and Co-Founder of Rise48 Equity. Zach's main responsibilities as CEO include overseeing all acquisitions, sourcing capital, and building strategic partnerships. He resides in Scottsdale, Arizona with his wife Grace. He is the Founder and President of ZH Multifamily's, The Phoenix Multifamily Association, a Phoenix-based organization that holds monthly speaking and networking events focused on apartment investing. Zach is also an official member of the Forbes Real Estate Council, and is a #1 Best Selling Co-Author of "Success Habits of Super Achievers. Zach has been a licensed Real Estate Agent in Arizona since 2016. He is a former live television news anchor and sports reporter for Arizona PBS and co-hosted a show on Fox Sports Network Arizona. Zach holds a Master of Business Administration from the Colangelo College of Business at Grand Canyon University, and graduated Summa Cum Laude with a Bachelor's in Journalism and Mass Communication from the Walter Cronkite School of Journalism at Arizona State University.
Bikran Sandhu
COO, CFO and Co-Founder
Bikran Sandhu is the COO, CFO and Co-Founder of Rise48 Equity. Bikran's main responsibilities as COO includes overseeing underwriting, transaction management, and investor relations for all assets acquired by Rise48 Equity. Bikran's main responsibilities as CFO include overseeing accounting, treasury, distributions, financial planning and analysis for Rise48 Equity. He resides in Scottsdale, Arizona with his fiancée Alice. Bikran has a professional background in audit and assurance services where he worked at PwC LLP and audited Fortune 100 companies as well as pre-IPO companies. Bikran also worked at CNM, LLP and has a professional background in management consulting services related to SOX compliance, risk advisory, and transactional accounting advisory services for Fortune 500 companies. Bikran holds a Bachelor of Science in Economics with an emphasis in Accounting and graduated Cum Laude from the University of California, Irvine.
Robert Szewczyk
Chief Construction Officer and Co-Founder
Robert Szewczyk is the Chief Construction Officer and Co-Founder of Rise48 Equity. Robert's main responsibilities as CCO include overseeing the entire asset management team, asset projects, and property inspections. He resides in Arcadia, Arizona with his wife Anita Szewczyk, MD and their three children. Robert has been investing in real estate for over 17 years and has equitable ownership in apartments, mobile home parks and hotels within the US and internationally. Robert has been a licensed Real Estate Broker in Arizona since 2009, where he specialized in Luxury Home Sales. Robert holds a Master of Science in Architecture from Polytechnic University of Cracow, Poland. His degree in architecture allows him to work closely with Target Company Managers while bringing extra knowledge to the construction process.
Cassidy Mason
Director of Investment Marketing
Cassidy Mason is the Director of Investment Marketing for Rise48 Equity. Cassidy’s main responsibilities include marketing strategy, public relations, content design, event planning, and management of the investment marketing team. She resides locally in Phoenix, Arizona. Cassidy has a professional background in Marketing and Graphic Design where she has 7+ years of experience creating content and managing marketing metrics. In her former role, she was a Graphic Designer and Campaign Manager for several professional clients where she managed social media accounts, collected data, and helped establish branding. Cassidy holds a Bachelors of Science in Marketing from The University of Wisconsin – La Crosse. She held a position at the University as a Graphic Designer & Marketing Specialist, and was a member of the American Marketing Association on campus.
Jeremy Dyer
Vice President of Capital Formation
Jeremy Dyer is the Vice President of Capital Formation for Rise48 Equity. His main responsibilities include building relationships with investors and helping them diversify into passive real estate opportunities. He resides in Lake Elmo, Minnesota. Jeremy has a background as both an active and passive real estate investor, with experience in multifamily syndications, value-add strategies, and market cycle analysis. He currently holds passive equity in over $750 million of real estate across more than 5,000 multifamily units and 31 deals nationwide. Prior to entering real estate, Jeremy was a top-performing sales professional. He now uses that experience to educate others on the benefits of real estate investing—particularly as a way to create long-term wealth and diversify beyond the stock market. Outside of work, Jeremy enjoys coaching youth sports, traveling with his family, and engaging in conversations about wealth, time, and financial freedom.
Nick Stromwall
Director of Capital Formation
Nick Stromwall is the Director of Capital Formation. His main responsibilities include optimizing operational systems, enhancing the investor experience, and identifying scalable opportunities for growth across the organization. He also supports investor relations and capital deployment. Nick brings over 15 years of experience in leadership development and operations, primarily in faith-based organizations, including roles as a college pastor and Operations Director for Campus Outreach. Prior to joining Rise48 Equity, he partnered on several deals and has been actively involved in multifamily and industrial real estate. He also co-owns a short-term rental business. Nick is passionate about aligning capital with purpose and helping investors grow their resources and impact through real estate.
Kaylie Fuller
Co-President of Operations
Kaylie (Criss) Fuller is the Co-President of Operations for Rise48 Equity. Kaylie's main responsibilities include managing asset operations and over seeing the asset management, property management, and construction teams. Kaylie resides locally in Phoenix, Arizona. Kaylie has a professional background in property management where she has 10+ years of experience managing apartment assets for clients. Kaylie has been managing Rise48 Equity's portfolio since 2020, and joined the team full-time in March of 2021 as the Director of Asset Management. Kaylie was promoted to Vice President of Operations in April of 2022. Kaylie holds an Associates of Business Administration and Management from Pima Community College.
Jason Kish
Capital Formation Manager
Jason supports the Capital Formation team by educating investors, building relationships, and helping them navigate passive real estate investment opportunities with Rise48. He resides in Arizona, where he enjoys the sunshine, mountains, and outdoor lifestyle the state has to offer. Jason brings a strong professional background from the SaaS industry, where he spent the majority of his career before transitioning into real estate. He purchased his first rental property 13 years ago, which led to additional actively managed investments. Over time, he discovered real estate syndications—an approach that allowed him to continue investing without the challenges of being a landlord. After becoming a passive investor with Rise48 and developing a strong relationship with the team, he later joined the company in a professional capacity to support investors like himself. Jason holds a deep passion for real estate investing and is excited to serve as Capital Formation Manager for Rise48. He enjoys discussing real estate in his free time and feels grateful to help others pursue financial freedom through passive investing. He and his wife have been married for 14 years and are preparing to welcome their fourth child this winter.
Noah Bowden
Capital Formation Associate
Noah Bowden is a Capital Formation Associate focused on building relationships with both prospective and existing investors. Based in Arizona, Noah is responsible for communicating current investment opportunities, guiding investors through the process, and helping them make informed decisions aligned with their financial goals. With a background in outside sales and over two years of experience, Noah brings strong communication skills and a relationship-driven approach to capital formation. He is known for his ability to connect with investors, understand their objectives, and provide clear direction throughout the investment process. Noah is currently completing his bachelor's degree in Real Estate Finance and has further developed his expertise through an online multifamily investment analysis course. He is committed to continuously expanding his knowledge to better serve investors and support long-term growth.
Headquarters
Scottsdale, Arizona
Invest with Rise48