The Closing: Chris Rising
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 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.
After working as a lawyer, Rising shifted to a career in commercial real estate. In 2007, he founded the first incarnation of Rising Realty with his father, Nelson, who was a developer of the U.S. Bank Tower. The Risings said they’ve grown the company to $1.3 billion in assets under management across 4 million square feet, with 35 employees. The company specializes in office, mixed-use and industrial development and has focused on investments in California. But Chris said that the firm is also looking to do deals in Denver, Salt Lake City and Portland, Oregon.
In this interview, Rising sits down with TRD to discuss the evolving market for commercial office space and property management.