FOR IMMEDIATE RELEASE
Contact: Vincent Aviani / Chris Egger
Macy + Associates
(415) 954-8550
vaviani@macyinc.com
BUCHANAN STREET PARTNERS, NATIONAL REAL ESTATE INVESTMENT BANK EXPANDS FULL-SERVICE BUSINESS MODEL INTO NATIONAL PLATFORM WHILE POSTING AN 70 PERCENT INCREASE IN BUSINESS FOR 2005 AND CLOSES MORE THAN $10 BILLION IN TOTAL BUSINESS SINCE COMPANY'S FOUNDING IN 1999
Buchanan Street Partners Opens New Chicago and Atlanta Investment Offices to Expand Investment Capabilities, Closes $2.4 Billion in Agency Services, Invests $891 Million in Principal Investments, and Raises $320,000 for Local Charities
Newport Beach, CA (January 9, 2006) - Buchanan Street Partners established itself as a leading
national real estate investment bank after substantially boosting both the profitability and visibility
of its agency advisory service line and its principal investment capabilities in 2005. During the past
year, Buchanan Street Partners posted record increases in all key-business lines of its full-service
platform, and hit $10 billion in total business since the company founding in 1999.
Key accomplishments for Buchanan Street Partners in 2005 included the following:
- Opened a Chicago-based principal investment office following the key hire of 20-year real estate investment veteran and Chicago native John Pantone
- Expanded the growth potential of the self-storage financing group through the opening of a new Atlanta office
- Closed the company's first principal investment transaction on the Eastern Seaboard with the $100 million acquisition of NOVA - a seven building office portfolio in Northern Virginia
- Expanded the company's investment sales service line to include the hospitality sector following the strategic hire of San Francisco-based Curtis Davies, 25-year hospitality real estate investment professional
- Named "Entrepreneur of the Year" by Ernst & Young
"Our growth was substantial yet measured. Because our business culture emphasizes individual strengths working in harmony with a bigger team mission, our growth initiatives are not just prompted by the need to grow, but instead by the opportunity to grow as presented by key hires. We discovered that a combination of clear vision with the right people yields a perfect chemistry. Through our extensive network of established capital market relationships and our own direct investment capacity, our business model thrived in 2005 by producing great results for our clients. In today's business environment, products can become commoditized; relationships cannot. The key to our success can be found in our continued investment in these relationships. The net result of this strategy is our ability to be the best in our industry at finding new investment opportunities and generating new approaches to capitalizing real estate," said Buchanan Street Partner's president and CEO, Robert Brunswick.
Brunswick reported that company successes included closing approximately $1.95 billion in debt
and structured financing in addition to $450 million for self-storage facility owners, investing
more than $891 million in 21 investments throughout the county, and raising more than $320,000 for
local children's charities.
"It is truly special to see our unique business model succeed on a national basis. From the
outset, we sought to create a company that the real estate investment community had never
seen before. The key to our present and ongoing success can be summed up by our four-corners
business model: a strong business platform, a cross disciplined knowledge base, rigorous
execution, and proven results for our clients. Nearly every successful transaction completed
last year can be traced back to this fundamental business strategy," said Brunswick.
According to Brunswick, 2005 was punctuated by substantial growth in every one of its very
distinct, yet complimentary business lines, including a 76% expansion of our real estate
advisory services, a 68% increase in our principal investment business, and continued growth
in our institutional and high-net worth investor bases.
Buchanan Street Partners Agency Services…
Buchanan Street Partners agency service arranges debt and equity
through third party capital sources for all commercial property types. In 2005, Buchanan Street
Partners closed $2.4 billion in debt and equity transactions for developers and owners. This
includes $688 million in financings for office and retail properties, $325 million for condo
conversions, $313 million in industrial financings, and more than $302 million in financings
for multi-family properties, and $450 million in self-storage financings. In addition, 2005
saw the birth of a new property sales group that was exclusively retained for approximately
$825 million in property sales listings while also completing $225 million in investment sales.
The company also added a San Francisco-based advisory service line that focuses on hospitality
property sales, and opened an Atlanta office to accommodate the company's self-storage capital business.
"While our business was really founded on the strength of our agency service skills for real
estate developers and owners, we have found that our key differentiator is being able to participate
from the first dollar to the last dollar of the capital stack either as a direct provider of equity
or as an intermediary or in many cases as both," said Brunswick.
Buchanan Street Partners Investment Management Services…
Buchanan Street Partners makes principal investments for the
acquisition, development, rehabilitation and adaptive reuse of office, retail, multi-family,
industrial, and mixed-use properties by making investments between $5 million to $50 million
on individual assets or portfolios with development partners and operating sponsors throughout
the United States.
In 2005, Buchanan Street Partners invested $193 million of equity in 21 investments that
capitalized $891 million of investments including the opening of a Chicago office and closing
the of the company's first investment on the Eastern Seaboard.
"By emphasizing teamwork and reinforcing our strategic partnerships with our clients within the
real estate industry, Buchanan Street Partners has been able to increase our investment activity
in core-plus, value-added and development projects. In fact, Buchanan Street Partners successfully
grew its scope of operations to the national level during 2005, completing its first-joint venture
investment transaction in the Northeast and Midwest markets, " said Brunswick.
Finally, while the majority of professional focus for Buchanan Street Partners is aimed at real
estate investment activity, the company also continued to promote charitable and philanthropic
causes by hosting its annual Challenge for Children fundraising event, and continued to cultivate
industry collaboration and peer-to-peer skill development through its annual Real Estate Summit Program.
"One of the areas that I am most proud of is our dedication to community service. Last year, we
hosted our fifth annual Challenge for Children fundraising event, and raised more than $320,000
for local children's charities.
In addition, we hosted our fifth annual Real Estate Summit event that serves as an information
sharing and gathering event for the real estate community in Southern California. This year's
event attracted nearly 800 real estate professionals to hear panelists Gen. (Ret.) William Lyon,
Chairman and CEO of William Lyon Homes; Hon. George Argyros, Chairman and CEO of Arnel &
Affiliates; Mr. Robert Maguire III, Chairman and Co-Chief Executive Officer of Maguire Properties;
and keynote speaker Mr. Michael Milken, Chairman, Milken Institute. Together, these two
accomplishments, combined with our financial success for our clients, helped create one of
the most rewarding years in our careers," said Brunswick.
About Buchanan Street Partners…
Buchanan Street Partners is a leading real estate investment bank
that provides real estate capital for owners and developers. Founded in 1999, Buchanan Street Partners
has offices in Newport Beach, Los Angeles, San Francisco, Atlanta and Chicago, and has closed more
than $10 billion in real estate transactions since its inception. Buchanan Street Partners makes
principal equity investments for real estate in a discretionary capacity, arranges debt and
structured finance, is an investment manager to institutional and private investors, offers
investment sale brokerage services, and has a specialty in self-storage finance.
