Sunrise Capital Investors LLC (“Sunrise Capital”), a private real estate firm specializing in niche asset classes such as parking facilities, has begun its expansion into downtown Phoenix, Arizona with the strategic acquisition of the Luhrs Parking Garage.
The historic, Class-A property is a well-known landmark in downtown Phoenix and is situated near the Phoenix Suns and Arizona Diamondbacks stadiums. The Luhrs Parking Garage is one of the featured acquisitions within Sunrise Capital’s “Growth and Income Fund 3” portfolio, which consists of multiple real estate assets and other high-performing parking facilities in diverse markets across the country.
Kevin Bupp, Co-Founder at Sunrise Capital Investors, commented on the acquisition, “We’re thrilled to enter this fantastic market with the purchase of such an iconic and perfectly situated property – and the Luhrs Garage is hopefully just the first one. We’re committed to developing a strong presence in this and similar markets, leveraging our unique expertise in parking lot investing and operations.”
When it came available, the Luhrs Garage presented a unique and promising opportunity for Sunrise Capital. Co-Founder Brian Spear stated, “The intrinsic value of Luhrs Garage was undeniable. Its prime location and proximity to top-tier restaurants, major hotels, sports arenas and the newly-renovated Maricopa County Courthouse make it an exciting addition to our expanding Fund 3 portfolio – and of course we’re honored to carry on the legacy of this landmark property.”
Immediate plans for the garage include adjusting parking rates to align with city-wide standards and optimizing operational efficiency. Bupp added, “The adjustment in rates, along with our drive to enhance operational effectiveness, will immediately impact our bottom line. We foresee an efficient, quality experience for parking patrons – and a significant increase in net operating income and overall value for our investors.”
Long-term plans for Luhrs Garage show Sunrise Capital’s commitment to the city. Spear elaborated, “We’re planning to retain ownership of this strategic asset for decades, leveraging the high demand for quality parking facilities in downtown Phoenix. This acquisition aligns perfectly with our strategy to provide stable, predictable income for our Fund 3 investors.”
Bupp went on to emphasize the strategic importance of the new acquisition: “Luhrs Parking Garage aligns seamlessly with the existing assets in our Growth and Income Fund 3. The Fund is structured to yield superior risk-adjusted returns over a long-term horizon. With these objectives in mind, the addition of Luhrs Parking Garage to our portfolio exemplifies our commitment to helping our investors achieve legacy wealth.”
About Sunrise Capital Investors
Founded in 2014, Sunrise Capital Investors is a Florida-based real estate private equity firm committed to generating cash flow and building legacy wealth for its investors through commercial real estate investing. Their strategic investment in high-quality real estate assets is designed to deliver attractive, risk-adjusted returns over a long-term holding period.
For additional information, please visit Sunrise Capital’s website at https://SunriseCapitalInvestors.com.
SOURCE: Sunrise Capital Investors