Rising defaults on $200M loan backing office, data center on outskirts of downtown LA

Rising Realty Partners defaulted on a $200 million loan on the West7Center, or what was once called the Garland Center, according to a notice of default and election to sell dated early March. Co-founder and chief executive Chris Rising told The Real Deal he is working with lenders to resolve the matter and retain control of the property. The $200 million note connected to the office and data center at 1200 West 7th Street, located in the City West area on downtown Los Angeles’ fringe, was originated by Brookfield. Brookfield later sold part of the debt — a $172 million […]This article originally appeared on The Real Deal. Click here to read the full story.