News
Apr 06, 2021

Rising Sells The Park Calabasas to Gemdale USA West Coast Value-Add Fund I

Rising Sells The Park Calabasas to Gemdale USA West Coast Value-Add Fund I thumb
Rising will retain management of 225,000sf and 20+ acre multi-tenant property.

Rising Realty Partners (Rising) announced today the sale of The Park Calabasas, a 225,000 sf office campus set on more than 20-acres, to Gemdale USA West Coast Value-Add Fund I (WCVAF I). Acquired in a portfolio sale from Bank of America in 2013, Rising implemented its impact strategy, transforming the campus from a vacant single tenant alignment to a multi-tenant set up that is now more than 90% leased. Rising was awarded management of the property on behalf of Gemdale.

“When we acquired this campus, it was outdated with a floor plan for a financial company — a very closed office.” said Christopher Rising, Co-Founder and CEO of Rising. “Our team had a bigger vision for this campus to give it life and make an impact through property improvements and programming. This campus was a proof point that our impact strategy model works in urban settings as well as suburban office parks.”

The outdoor courtyard of The Park Calabasas at midday
The outdoor courtyard of The Park Calabasas at midday

Related Posts

Sacramento (1)
Mar 22, 2023
Rising Realty Partners Acquires its Third Sacramento-Area Industrial Park
Rising announced today that it has partnered with a fund managed by DRA Advisors LLC to acquire Mercantile Industrial Park, a multi-tenant industrial park located at 2501, 2529, 2539 and 2640 Mercantile Drive in Rancho Cordova, California, a suburb of Sacramento. The property is RRP’s third light industrial acquisition in the Sacramento area in the past year.
Website Article Covers (5)
Feb 10, 2023
Remembering the Life of our Co-Founder Nelson C. Rising
Nelson C. Rising, Real Estate Developer and Political Insider Who Helped Shape California Cities, Dies at Age 81
Website Article Covers (6)
Jan 12, 2023
Chris Rising Featured in Los Angeles Business Journal ‘The Lists 2023’
The Los Angeles Business Journal's special edition of The Lists 2023 features prominent Los Angeles executives, including Chris Rising, highlighting their contributions to the city's economy. With a weekly circulation of 24,000 and over 40,000 unique website visitors, the publication provides valuable industry-specific information and rankings for companies shaping the Los Angeles economy, showcasing a bright future for the city as a multicultural and diverse hub for arts and culinary experiences.

Where you can find us

Rising Realty Partners

433 S. Spring St., Suite 700, Los Angeles, CA 90013