Downtown's Figueroa Courtyard Trades Hands

LOS ANGELES—Rising Realty Partners has acquired the Figueroa Courtyard, a 270,000-square-foot, five-building office park in the Bunker Hill neighborhood of Downtown Los Angeles, from the US Bank Corp. The sales price was not disclosed.

Figueroa Courtyard is the only low-rise office park in the downtown submarket. The property is currently 72% occupied with a tenant mix that includes U.S Bank, OneLegacy, Associated Press, StubHub, UCLA Extension, California Community Foundation and American Public Media. Rising Realty Partners plans to invest additional capital to upgrade the property with technology and amenities that will create more of a lifestyle experience and better serve the needs of tenants and potential tenants. There is no information at this time on the amount of capital the company plans to invest.