Christopher Rising: The Lifelong Angeleno and DTLA Developer Shares Strategy and Concerns
Rising Realty Partners was founded by father-and-son Nelson and Christopher Rising with the sole purpose of creating great places using impact-focused strategies. The company decreases its environmental footprint by incorporating sustainable practices into every asset; integrates cutting-edge technology to drive efficiency; and implements strategic wellness programs to increase tenant satisfaction, retention, and well-being. The company currently owns One California Plaza, The Cal Edison Building, and The Trust Building in Downtown LA and has committed $300M to invest in Los Angeles and eight other Western U.S. markets.
What are your biggest business concerns surrounding COVID-19?
We don’t have great visibility as to how hard our tenants have been hit just yet, though we will likely know over the next couple weeks as the rent default time periods kick in. Retail tenants have obviously been decimated but it’s unclear how the COVID-19 stimulus package out of the federal government will support their business. Our main goal at Rising Realty Partners is to focus on the issues at hand, which means intensely reviewing cash reserves and cash flows. We’ve told our team to remain calm, listen intently, and be responsive and empathetic. We also know that we must keep to the facts that we know.
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