Story highlights Sage Stallone, 36, lived in Los Angeles

He acted in several movies, including "Daylight" and "Rocky V" with his father

Sage Stallone, the 36-year-old son of actor Sylvester Stallone, died Friday.

"Sylvester Stallone is devastated and grief-stricken over the sudden loss of his son Sage Stallone," his representative said in a statement. "His compassion and thoughts are with Sage's mother, Sasha. Sage was a very talented and wonderful young man. His loss will be felt forever."

Sage Stallone's attorney, George Braunstein, told Los Angeles TV station KNBC that Sage Stallone was engaged to be married and was working on various film projects at the time of his death.

He acted in several movies, including "Daylight" and "Rocky V" with his father.

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The younger Stallone also co-founded Grindhouse Releasing, a company that describes itself as "dedicated to the restoration and preservation of motion pictures historically held in very low regard."