$100,000 Donation to Support Six Primary Markets

With heightened economic and health concerns amid the COVID-19 pandemic, San Diego’s Parallel Capital Partners has announced it will donate $100,000– in lieu of traditional holiday festivities – to regional charities in its six primary markets: San Diego, Honolulu, Dallas, Long Beach, Orange County and Phoenix.

According to Matt Root, president and CEO of Parallel Capital Partners, a real estate investment and operating firm, as the consequences of the COVID-19 pandemic mount, his firm will forgo seasonal holiday appreciation meals and gift baskets and instead support charities ranging from food banks to women’s shelters.

“Communities nationwide are struggling because of the impact of the coronavirus outbreak, so we will donate the funds traditionally spent on tenant holiday perks to support charitable organizations in our regional markets,” he said.

With this in mind, Parallel’s tenants were invited to vote on a charity in their respective communities. As a result of that survey, the following charities were chosen by tenants of the following commercial office buildings in each Parallel market.

Urban Towers (Dallas) North Texas Food Bank

One North Central (Phoenix) St. Mary’s Food Bank

Arizona Center (Phoenix) Tied: UMOM New Day Centers/HALO Animal Rescue

Sky ParkSan Diego Warrior Foundation

ShorelineSquare (Long Beach) WomenShelter of Long Beach

The Ranch (Orange County) Second Harvest Food Bank Orange County

DaviesPacific Centerand

Waterfront Plaza (Hawaii) Hawaii Food Bank

Root said. “We are thrilled to include all our tenants in this first ever company-wide initiative, which gives back to the communities we serve,” Root says. “Through this process, we hope we can together make an important and enduring impact in each market.”

About Parallel Capital Partners, Inc.

Parallel Capital Partners, Inc. (parallelcapitalpartners.com) is a real estate investment and operating firm that focuses on office, industrial and retail property acquisition in markets in the western U.S. and Hawaii. The company identifies opportunities where assets are undervalued and uses restructuring, capital improvements and superior leasing and management to turn value-added opportunities into core properties.