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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.

Multifamily rise48equity.com →
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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.

01× · money back2×3×4×
Paseo 51 Glendale, AZ · 116 units · 2020 to 2021
3.85×
Scottsdale 5th Ave Scottsdale, AZ · 59 units · 2019 to 2022
3.42×
Villa Serena Phoenix, AZ · 137 units · 2019 to 2021
3.00×
Rise on McDowell Phoenix, AZ · 76 units · 2019 to 2021
2.90×
Rise on Peoria Glendale, AZ · 164 units · 2021 to 2022
2.45×
Rise Metro Phoenix, AZ · 160 units · 2021 to 2022
2.45×
Rise Downtown Mesa Mesa, AZ · 103 units · 2021 to 2022
2.26×
Rise Melrose Phoenix, AZ · 96 units · 2021 to 2022
2.02×
District Flats Off Dobson Mesa, AZ · 112 units · 2020 to 2021
1.95×
Silver Oaks Apartments Phoenix, AZ · 36 units · 2019 to 2020
1.91×
Rise on Thomas Phoenix, AZ · 100 units · 2021
1.86×

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.

United States
PropertyPlaceUnitsBoughtSoldReturned
Scottsdale 5th AveScottsdale, AZ59201920223.42×
Rise MelrosePhoenix, AZ96202120222.02×
Rise Downtown MesaMesa, AZ103202120222.26×
Rise on PeoriaGlendale, AZ164202120222.45×
Rise MetroPhoenix, AZ160202120222.45×
Paseo 51Glendale, AZ116202020213.85×
Villa SerenaPhoenix, AZ137201920213.00×
Rise on McDowellPhoenix, AZ76201920212.90×
Rise on ThomasPhoenix, AZ100202120211.86×
District Flats Off DobsonMesa, AZ112202020211.95×
Silver Oaks ApartmentsPhoenix, AZ36201920201.91×
Rise Silver LakeRaleigh, NC1362026Still owned
Rise at The NorthernPhoenix, AZ1082026Still owned
Rise Valley HeightsMesa, AZ1942026Still owned
Rise BluestoneRaleigh, NC2682026Still owned
Rise AvalonCharlotte, NC2402025Still owned
Rise WestgroveRaleigh, NC972025Still owned
Rise Crown ViewGreensboro, NC1192025Still owned
Rise Chapel HillChapel Hill, NC1442025Still owned
Rise Mountain RidgeMesa, AZ1542025Still owned
Rise Apollo HeightsGarland, TX2482025Still owned
Rise SunridgeCharlotte, NC2002025Still owned
Rise Stone GateCharlotte, NC1442025Still owned
Rise BridgeviewGreensboro, NC2402024Still owned
Rise GatewayGarland, TX1422024Still owned
Rise HillcrestGarland, TX2242024Still owned
Rise Highland ParkDallas, TX1442024Still owned
Rise Matthews PointeMatthews, NC1002024Still owned
Rise Blue RidgeCharlotte, NC2472024Still owned
Rise West ArlingtonArlington, TX2202024Still owned
Rise Fossil CreekHaltom City, TX2882024Still owned
Rise Spring PointeFort Worth, TX3232024Still owned
Rise at Town EastMesquite, TX2102023Still owned
Rise SkylineMesquite, TX2002023Still owned
Rise Heather RidgeArlington, TX2522023Still owned
Rise CreeksideNorthlake, TX2282023Still owned
Rise North ArlingtonArlington, TX2702023Still owned
Rise Oak CreekBedford, TX1762023Still owned
Rise Bedford LakeBedford, TX3602023Still owned
Rise Desert CovePhoenix, AZ1862023Still owned
Rise at Highland MeadowsDallas, TX3282023Still owned
Rise on McClintockTempe, AZ1122023Still owned
Rise SuncrestTempe, AZ1602022Still owned
Rise on CactusPhoenix, AZ1242022Still owned
Rise at The MeadowsGlendale, AZ1202022Still owned
Rise EncorePhoenix, AZ3762022Still owned
Rise LakesidePhoenix, AZ2882022Still owned
Rise at The DistrictMesa, AZ4602022Still owned
Rise BroadwayMesa, AZ2882022Still owned
Rise at The PalmsGlendale, AZ1382022Still owned
Rise at Dobson RanchMesa, AZ1202022Still owned
Rise North MountainPhoenix, AZ1372022Still owned
Rise Canyon WestPhoenix, AZ1652022Still owned
Rise on Country ClubMesa, AZ2722022Still owned
Rise North RidgeGlendale, AZ1302022Still owned
Rise TrailsideGlendale, AZ602022Still owned
Rise at The LoftsPhoenix, AZ922022Still owned
Rise at Estrella ParkPhoenix, AZ2242022Still owned
Rise on Cave CreekPhoenix, AZ1412021Still owned
Rise ThunderbirdPhoenix, AZ2032021Still owned
Rise WestgatePhoenix, AZ1202021Still owned
Rise MidtownPhoenix, AZ2002021Still owned
Rise SkyviewPhoenix, AZ2442021Still owned
Rise at The RetreatTempe, AZ1972021Still owned
Rise ParksideGlendale, AZ3522021Still owned
Rise CamelbackGlendale, AZ2092021Still owned
Rise Desert WestPhoenix, AZ2042021Still owned
Rise BiltmorePhoenix, AZ1612021Still owned
Rise at The PreservePhoenix, AZ1662021Still 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.

Who you'll talk to Jeremy Dyer Vice President of Capital Formation

Headquarters

Scottsdale, Arizona

Scottsdale, AZ

Invest with Rise48

One fund is open now.

Open
Rise Fund IV
Multifamily
13.3% Target IRR1.83x Equity$50.0K min Minimum

About this profile

Profile built from source documents and firm materials. DealStack provides independent analysis of private placements and is not affiliated with the firms listed unless a subscription is explicitly noted. An empty field means that item is not available yet. The date of the assets-under-management figure is not on file. The headquarters map is placed to the city, not to a street address. The number of realized investments the firm reports and the number of sales DealStack counts have separate sources.

Securities are offered only through official offering documents. Some offerings only accept accredited investors, and each deal page says who can invest. All investments involve risk, including the potential loss of principal.

Who you'll talk to
Jeremy DyerVice President of Capital Formation
Rise Fund IV
Now raising

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