Another DTLA office tower in receivership

Another day, another DTLA office tower falling into receivership. This time, it's none other than One California Plaza, a 1 million-square-foot, 42-story property on Bunker Hill. The lenders' request for a receiver was granted by the court, resulting in Triguild taking on the role. This comes after the property's $300 million commercial mortgage-backed securities debt default and foreclosure.

But what's interesting about this particular receivership is that it involves not just one, but two major players in the DTLA real estate scene: Chris Rising and his Rising Realty Partners, and DigitalBridge, previously known as Brookfield.

Rising and DigitalBridge, along with Brookfield, have been making waves in the DTLA market, with a portfolio of properties that have caught the attention of investors and tenants alike. But this latest development puts them in a different kind of spotlight - one that involves a struggling property and a court-ordered receiver.

While neither Rising nor DigitalBridge have commented on the receivership, it's clear that their involvement in this case raises questions about their management and decision-making, especially in light of the current state of the commercial property market in DTLA.

This is just another example of the ups and downs of the DTLA real estate scene, where even the biggest names are not immune to financial struggles. It remains to be seen how this receivership will impact Rising, DigitalBridge, and their properties moving forward.

Originally reported by The Real Deal.

https://therealdeal.com/la/2025/08/30/dtla-office-tower-in-receivership/