Rising Realty Partners (Rising) and GreenOak Real Estate (GreenOak) announced today a recapitalization of The CalEdison DTLA (The CalEdison), a historic Art Deco office building in Downtown Los Angeles. GreenOak acquired its interest in the building from the previous joint venture partnership managed by Lionstone Investments (Lionstone). Rising will continue to act as operating and managing partner for The CalEdison.
By Alison Stateman | Commercial Observer
Landlords that want to prosper need to have their finger on the pulse of demographic changes, according to some of the industry’s top landlords who spoke on a panel devoted to the owner’s perspective at Commercial Observer’s Inaugural Financing Commercial Real Estate Forum in Los Angeles.
By Alison Stateman | Commercial Observer
Chris Rising, 49, has witnessed the evolution of the office market firsthand. As a former lawyer and assistant to brokerage legend John C. Cushman, before co-founding Rising Realty Partners with his father Nelson Rising, a noted developer of the U.S. Bank Tower in downtown Los Angeles, among other properties, he has watched as technology radically impacted office space and design. Since 2011, Rising Realty has played a major role in shaping development in downtown Los Angeles.
By Steven Sharp | Urbanize LA
Last month, Rising Realty Partners granted us a tour of The Trust Building, a historic building now in the midst of a full restoration in Downtown Los Angeles.
Completed in 1928 at 433 S. Spring Street, the 11-story structure will offer 338,000 square feet of rentable space atop ground-floor retail upon completion later this year. Originally known as the Title Insurance and Trust Building, it is being redesigned by a team that includes Gensler and Architectural Resources Group to make the vintage property appeal to modern tenants.
By Alexei Barrionuevo | The Real Deal
Chris Rising is co-founder and president of Rising Realty Partners, a real estate operator and investor based in Downtown Los Angeles. Since relaunching in late 2011, the firm has played a big role in shaping DTLA’s development. Rising Realty Partners is best known for buying the historic PacMutual building for $60 million, spending $25 million to renovate it and ultimately selling it for $200 million — a record Downtown sale at the time. Last year, the firm paired with Colony NorthStar in the purchase of One California Plaza for $460 million. Rising is currently working on a renovation of the 320,000-square-foot former Title Insurance Building at 433 South Spring Street.
Los Angeles Business Journal | By Ciaran McEvoy
Citigroup Inc. is moving out of the Citigroup Center at 444 S. Flower St. in downtown Los Angeles to 29,000 square feet at nearby One California Plaza at 300 S. Grand Ave., according to sources.
By Dennis Kaiser | Connect Media
Connect Real Estate Los Angeles featured a jam-packed afternoon of conversations, networking and presentations. More than 500 gathered at the Hotel Indigo in DTLA and heard from commercial real estate leaders and economists about the trends driving decisions in Los Angeles.
By Matt Pressberg | The Information
Last fall, CBS put its Television City compound in West Los Angeles on the market, saying that it was worth a lot of money that could be “used better elsewhere.” Other film and TV companies that own vast studio lots in the same area, such as 21st Century Fox, Viacom and Sony, should follow suit.
by Steven Sharp | Urbanize LA
Rising Realty Partners has unveiled three-dimensional renderings of the Trust Building, an office restoration project now underway on Spring Street. Built in 1928, the 11-story, 320,000-square-foot building is located at 433 S. Spring Street. The historic structure, previously slated for adaptive reuse as condominiums, is instead being retrofitted as creative office space with ground-floor commercial space.
