Basin Street News

Reno, Nevada (date October 4, 2017) – Basin Street Properties, a prominent Northern Nevada real estate investor and developer, has signed a lease with Allrise Financial Group for 5,500 square feet at its 200 South Virginia building in downtown Reno.  “We are excited about the growing Reno economy and we think there will be a strong market for our lending services,” said, Yuliya Efimkin, Chief Operating Officer at Allrise Financial Group. Allrise Financial Group is a global company that established its California offices in 2014.  With Reno’s growth, they are looking to develop lenders and borrowers in the Northern Nevada market.

Allrise Financial Group joins a growing list of companies opening new or expanding existing offices in downtown Reno over the past year.  Vacancy rates for Class A office continue to drop in downtown Reno and many of Basin Street buildings are over 90 percent occupied.  “Allrise Financial Group opening at 200 South Virginia is a great fit for the growth and tenant base we see in Reno,” said Scott Stranzl, VP of Leasing for Basin Street Properties.  “New businesses and private lenders need flexible financial solutions and Allrise fills a niche not readily addressed by banks or other lending vehicles.”

Allrise is excited about their new space and the downtown Reno location.  “Our downtown location puts us at the heart of regional business and conveniently close to a variety of dining and entertainment choices,” said Darcy Musler, Marketing Specialist for Allrise.  Allrise intends to invest and have an impact in the Reno community, and they anticipate their offices will reflect that. They will host an office grand opening event in early 2018.

Allrise opened the new 200 South Virginia offices October 2, 2017.   “We currently have seven employees in Reno, but plan to grow our team to 24,” said Musler.  “We will be hiring loan processors, underwriters, accounting roles and client service positions.”  Additional information will be available soon at Allrise.us.

Allrise looks to help continue Reno’s growth and wants to be local to the market to most effectively do it.  “Our technology platform and lending pool allows us to quickly assess, approve and process loans without the traditional headaches of working with a bank,” said Musler.  “Our lending pool model gives us a competitive advantage over other financial institutions and allows us to quickly provide lending solutions for small to medium sized businesses.”

200 South Virginia is a nine-story, 117,780 square foot Class A office building with panoramic views of the surrounding Sierra Mountains, Truckee Meadows and downtown Reno.  Basin Street Properties owns and manages 723,646 square feet of class A office space, hospitality, multi-family and retail in Reno and led the redevelopment of the Kings Inn into 3rd Street Flats and the opening of the new Courtyard by Marriott Reno Downtown.  Representing Basin Street Properties was Dominic Brunetti and Scott Shanks of Dickson Commercial.

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About Allrise Financial Group:
Allrise Financial Group is a private, global marketplace lending platform offering borrowers and investors rapid financial solutions without the restrictions of a conventional bank.  At Allrise, borrowers and investors can come together for mutual benefit with secured loans backed by real estate at industry-leading interest rates.  Allrise focuses on small businesses where the lending model helps local communities thrive.

Allrise continues to rapidly grow and expand in the United States and Europe.  New offices for specializing in asset-backed investment funds are also opening in Southern California’s technology hub, the Irvine Spectrum, in October 2017.

We all rise at Allrise.  For more information visit allrise.us

About Basin Street Properties:
Basin Street Properties, headquartered in Reno, is one of Northern California and Northern Nevada’s prominent developers, investors and managers of commercial properties. Basin Street has become widely recognized for its office, retail, multi-family, hospitality and mixed-use developments.  Founded in 1974, the company offers a broad range of real estate services, including development, property management, construction management, financial and asset management, and property acquisition and disposition.  For more information, visit basin-street.com or contact Mike Williams, 775-954-2821, mwilliams@basin-street.com.