Rising Realty Partners (RRP) acquired Figueroa Courtyard, a five-building 270,000sf office park located in Downtown Los Angeles from U.S. Bank Corporation. Built in 1979, Figueroa Courtyard is home to tenants such as U.S Bank, OneLegacy, Associated Press, StubHub, UCLA Extension, California Community Foundation, and American Public Media. The office park is currently 72 percent occupied. Canyon Capital Realty Advisors is serving as the acquisition lender. The lending broker is HFF and Kennedy Wilson served as the acquisition broker.
By Matt Pressberg | Los Angeles Business Journal
Downtown Los Angeles real estate developer Rising Realty Partners has acquired the Figueroa Courtyard, a five-building low-rise office park in downtown Los Angeles.
LOS ANGELES--(BUSINESS WIRE)--Rising Realty Partners (RRP) and Lionstone Investments (Lionstone) announced today a recapitalization of the historic PacMutual Campus (PacMutual), in Downtown Los Angeles. Lionstone replaces previous equity partner, Mount Kellett Capital Management. RRP will continue to act as operating and managing partner for PacMutual.
By Kelsi Maree Borland | GlobeSt.com
PASADENA, CA-Rising Realty Partners has teamed with Silicon Valley tech expert David Sacks to acquire the Old Pasadena Plaza, a three-building, 60,771-square-foot retail center and office space. The partnership plans to renovate the property into creative office that, according to Sacks, will become Pasadena’s “tech hub.”
LOS ANGELES, April 16th, 2012 –PacMutual, a landmark building in Downtown Los Angeles, was acquired today by developer Rising Realty Partners (“RRP”) and funds controlled by their financial partner Mount Kellett Capital Management LP (“Mount Kellett”.) The acquisition marks the notable reentry into the California real estate market by the RRP team of CEO and Chairman Nelson Rising, President Christopher Rising and Executive Vice President Reed Garwood. RRP plans to transform this historic property into a marquee lifestyle commercial office space for Class A local, regional and national tenants.