RISE CITYSCAPE
A 229-unit multifamily opportunity in Downtown Dallas, Texas, acquired at a 55% discount from peak pricing. Join Oak & Vine Capital live to review the market, the business plan, the projected returns, and how to invest.
Wednesday, September 23, 2026
2:00 PM CT
Can't make it live? RSVP anyway and we'll send you the replay.
Projected net returns to Oak & Vine Capital investors over the full hold period, minimum $50,000 investment. Projections are not guaranteed.
Key Dates
Deal Timeline
The Details
Why Rise Cityscape
A+ Downtown Location
An average one-mile household income of $126,000 in the largest employment center in Dallas, with 135,000+ daytime workers.
55% Below Peak Pricing
Going-in basis of $183K per unit, a 55% discount from peak pricing.
Highest Cap Rate Yet
A 6.4% going-in cap rate, the highest cap rate Rise48 has purchased at to date.
Proven Occupancy
90%+ physical occupancy for the past 10 years, with 0% concessions over the past 12 months.
Large Floor Plans
31 distinct floor plans across the 35-story tower, ranging from 678 to 2,908 square feet.
Conservative Business Plan
Burning off loss-to-lease and installing in-unit washers and dryers for $64 per unit, a low-execution-risk plan.
About the Property
350 N Ervay Street, Dallas, TX 75201
A 35-story high-rise apartment building in the heart of the Dallas central business district, with a rooftop pool, a fitness center, a movie theater, and some of the largest floor plans downtown: one, two and three bedrooms from 678 to 2,908 square feet.
EXTERIOR
INTERIOR
AMENITIES
The Market
Why Dallas, Why Now
Dallas absorbed a record supply wave and kept growing. Now construction starts have collapsed while demand keeps climbing. That is the setup value-add investors wait entire cycles for.
Dallas-Fort Worth ranks #1 nationally for inbound moves on the 2025 U-Haul Growth Index.
DFW ranked #2 in the U.S. for job gains in 2025 and leads the nation in post-pandemic job creation.
Dallas-Fort Worth is the fourth largest metropolitan area in the United States.
Texas ranks #1 in the 2025 U.S. rankings for landlord-friendly regulation.
DFW is projected to add 237,000 new jobs by 2030, roughly 5% job growth, ranking #1 in the United States.
DFW rent growth turns positive in 2027 as new deliveries fall away (CoStar).
The Submarket
Inside Dallas's Largest Employment Center
Rise Cityscape sits in the Dallas central business district, within a half mile of the city's largest banking, government and civic employers.
Average annual household income within one mile of the property.
Median home value within one mile, well above the cost of renting.
The largest concentration of daytime employment in Dallas.
Employees at the new Northend campus, less than a mile away.
Walking Distance
Recent News
A Top Growth Market
What has landed in Dallas-Fort Worth.
New Plano global HQ campus by 2028 to add 6,000 employees.
Texas investment through 2027 for AI and cloud infrastructure.
Dallas is projected to be #1 in the U.S. for population growth through 2030.
Dallas is projected to become the #3 largest U.S. metro in the 2030's.
Sources: Dallas Business Journal · Google · Fox Business · U.S. Census.
The Business Plan
Three moves, all proven
Nothing here is speculative. Each step is a scope Rise48 has already executed across its portfolio.
Bring below-market rents to market
Burn off the existing loss-to-lease by moving in-place rents toward what the neighboring downtown properties already charge, with the entire model assuming a total rent increase of just $64 per unit.
Add in-unit laundry
Install washers and dryers as part of the $64-per-unit business plan. It is the single highest-return scope in the plan and one Rise48 has run across the portfolio.
Hold, then exit into a recovering market
Hold two to five years while DFW rent growth turns positive in 2027, then sell into stabilized NOI. Occupancy has already run 90%+ for a decade, and concessions have been at 0% for the past 12 months.
The Sponsorship Team
Who's behind the deal
Your Investment Partner
Oak & Vine Capital curates institutional-quality multifamily deals and negotiates enhanced terms for its investor community. On Rise Cityscape, that means an 85/15 split after the preferred return instead of the standard 70/30, so more of the upside lands in your account.
Deal Sponsor & Operator
Rise48 Equity is the vertically integrated operator on this deal, with its own property management and construction companies, 300+ full-time staff, and deep Texas infrastructure: 15 assets, 3,613 units, and 80+ local employees. Oak & Vine Capital is bringing this opportunity to our investor network as a capital partner on the raise.
A track record of over-delivering
Across 11 full-cycle exits, Rise48 projected a 15.4% average IRR and delivered a 70.5% average actual IRR with a 2.11x equity multiple, in an average hold of just 17.7 months. Discipline is the reason: of 1,175 deals underwritten since 2022, only 35 passed the model. Rise Cityscape is one of them.
Join us live for Rise Cityscape
We'll walk through the market, the property, the business plan, the projected returns, and exactly how to invest. Bring your questions.
Can't make it live? RSVP anyway and we'll send you the replay along with the deal materials, well ahead of the October 9 document deadline.
Questions
Frequently Asked Questions
Additional questions?
Book a call with Nick or reach out directly.