Rise48 Buys 320-Unit Carrollton Apartment Complex
The Dallas-Fort Worth investor is planning a $6 million renovation of the property, renamed Rise Trinity.
Updated on Nov. 10, 2026 in Apartments
Rise48 Equity has acquired a 320-unit multifamily property at 2500 Guerrero Drive in Carrollton, formerly known as The Holden. The company did not disclose the purchase price, and the property was previously owned by Pecos Housing Finance Corp.
Why it matters
The acquisition adds to Rise48's Dallas-Fort Worth portfolio at a time when the metro's vacancy rate has begun to decline. The property's occupancy is under 84%, below the roughly 93% Rise48 reports across its other 15 DFW properties, which is the gap the planned upgrades are meant to close.
The Dallas Central Appraisal District lists the property's 2026 appraised value at $57.6M, and occupancy sits under 84% versus roughly 93% across Rise48's other 15 DFW properties. Rise48 has not disclosed the purchase price, so the appraisal cannot be compared with the acquisition cost.
The players
Rise48 Equity
A Dallas-Fort Worth-focused real estate investment firm that manages more than $2.1B in assets across DFW, Phoenix and North Carolina, and focuses on value-add multifamily communities.
Zach Haptonstall
The CEO of Rise48 Equity, who expects the planned changes will stabilize occupancy and elevate the resident experience at the property.
Pecos Housing Finance Corp.
The entity that previously owned the Carrollton property before its sale to Rise48 Equity.
The details
Rise48 plans to complete all deferred maintenance at the 45-year-old complex and install in-unit washers and dryers, update roofs and HVAC units, and add amenities including pickleball courts, playground equipment and a dog park. The property has been renamed Rise Trinity, and Rise48 has budgeted $6M for the capital improvement program.
Timeline
2022: Shiloh Oaks Apartments in Garland reached its peak valuation, a benchmark Rise48 later cited in its DFW buying.
Beginning of 2023: Rise48 began acquiring nearly all of its DFW properties.
2026: The Dallas Central Appraisal District set the Carrollton property's appraised value at $57.6M.
Q3 2026: DFW's vacancy rate reached 9.4%, the first year-over-year decline since early 2022.
Market Landscape
The purchase comes as Cushman & Wakefield reports DFW's Q3 2026 vacancy rate of 9.4%, the first year-over-year decline since early 2022. Rise48's bet is that a below-market Carrollton property can benefit as absorption improves in a submarket already under 8% vacancy.
Renters at the Carrollton property can expect deferred maintenance to be completed and in-unit washers, dryers and updated HVAC systems to be installed as part of the renovation. The added amenities, including a dog park and pickleball courts, are planned for the community.
The takeaway
Upgrades at value-add properties like this one can narrow the occupancy gap with newer or better-maintained communities, which matters to renters comparing options in a market where vacancy is starting to ease. Prospective tenants should watch for renovation timelines that may affect day-to-day living during construction.
Further reading
For more on the local rental market, explore Apartments coverage in Carrollton.
Source note: This article includes information reported by Bisnow.
