Exclusive: Rising Realty Partners Expands Third-Party Management Business
Rising Realty Partners has built its reputation as an owner/operator, including properties such as the five-building The Park DTLA on Figueroa Street, but the firm has a wealth of experience in third-party property management.
Rising Realty Partners SVP of third-party services and 5x5 Telecom co-founder Marc Gittleman tells Bisnow one of the things that differentiates Rising Realty is "every building gets its own personality whether it’s a building we own or whether we third-party manage."
Rising Realty Partners understands what tenants and owners want and need, he says.
To capitalize on those skills, Marc is expanding Rising's third-party services by combining the property management team’s extensive institutional expertise in office, data center, medical, industrial and retail real estate with Rising’s unique concierge property management platform for the benefit of other owners.
Marc says a lot of people have only seen Rising as an owner/operator with vivid case studies like PacMutual and the 3.3M SF of property Rising owns and third-party manages.
“I assembled a team who has managed property for some of the most prominent institutions in the world, then combined that expertise with Rising's unique approach to management," Marc says.
"Now, I am reaching out to other owners with our deep bench of highly experienced managers to deliver the same team and success to a broad set of third-party owners and properties."
Two new clients Rising Realty Partners has are Catalina Landing in Long Beach, which is nearly 280k SF, and Pasadena Corporate Park, a 264k SF property.
While Rising continues to acquire and develop property, expanding third-party management is a business line the firm is passionate about, "expanding further based on our property management division's outstanding experience in serving our tenants," according to Marc.