Rising Realty Partners Acquires Office and Industrial Property in El Monte
March 10, 2020. Los Angeles, Calif: Rising Realty Partners (Rising) announced today the acquisition of 9320 Telstar, a 246,912sf office and industrial property located in El Monte, California. Built in 1975 and modified to include 163,000sf of office in 2001, the property’s entire office component is occupied by the County of Los Angeles, which renewed a long-term lease upon Rising’s acquisition.
The property represents Rising’s first combined office and industrial property and the first asset acquired as part of the Rising Investor Platform where accredited investors can partner with Rising in a building’s ownership structure. Rising tapped LP investment from Crowdstreet’s Opportunistic Fund I, Series I, and LP equity from Brasa Capital Management on the deal.
“We are excited to acquire our first property via the Rising Investor Platform where we offer accredited investors the opportunity to dig into our underwriting and assess how a property may fit into individual portfolios,” said Christopher Rising, Co-Founder and CEO of Rising. “This is a new investment model for a majority of our acquisitions moving forward.”
9320 Telstar’s 68,136sf of vacant industrial space offers a 25-foot clear height, five dock-height bays, and skylights. Property is adjacent to the 10 freeway providing easy access to the San Gabriel Valley and the Inland Empire and includes 635 parking stalls.
Rising previously announced an expansion of its investment platform to include Industrial Sector acquisitions.
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About Rising Realty Partners
Rising Realty Partners is a family-owned, Los-Angeles based, vertically-integrated real estate investment and operating platform specializing in creating world-class commercial properties. With more than 5 million sf under management, Rising’s approach to real estate investing and operating focuses on advancing environmental, technological, and social impacts. For more information, please visit www.risingrp.com
About Brasa Capital Management
Brasa Capital Management (http://www.brasacap.com) is a real estate investment manager based in Los Angeles. Brasa targets middle market commercial real estate investments in the Western US and Texas. The firm invests across the capital stack in diversified asset types. Brasa manages both commingled funds and separate accounts on behalf of institutional and high net worth investors.
CrowdStreet operates an award-winning online commercial real estate investment marketplace that gives accredited investors access to institutional-quality offerings. CrowdStreet technology allows sponsors to raise capital through online fundraising and manage their investors, both on the Marketplace and with a SaaS solution. CrowdStreet is helping to create a community where individual accredited investors and CRE firms can work together to build wealth through commercial real estate. The CrowdStreet Opportunistic Fund I, raised $15.7 million from investors to invest in Marketplace opportunities. Series II of the fund, launched on February 18, 2020 and managed by CrowdStreet Advisors, a Registered Investment Advisor, is targeting $30 million in Marketplace investments. For more information, please visit www.crowdstreet.com