FOR IMMEDIATE RELEASE
Contact: Vincent Aviani / Kelsey Kazarian
Macy + Associates
(310) 821-5300
kkazarian@macyinc.com
BUCHANAN STREET PARTNERS SECURES $26.3 MILLION OF STRUCTURED FINANCE AND JOINT VENTURE EQUITY FOR STRATUS COMMERCIAL TO FUND INLAND EMPIRE RESIDENTIAL PROJECT
Arrangement Provides 100 Percent of Funding for Stratus Commercial's Development of 70 Attached Single Family Residencies in City of Rialto; Pairs $22.5 Million Acquisition and Construction Loan with $3.8 Million of Joint Venture Equity
Rialto, CA (March 6, 2006) - Buchanan Street Partners, a real estate investment bank, has
secured $26.3 million on behalf of Stratus Commercial for the development of 70 attached single-family
residencies in Rialto, Calif. "The capital consists of a $22.5 million loan from Vineyard Bank for
the purchase and development of the 6.82-acre site as well as a $3.8 million joint venture equity
commitment, provided by Phoenix Realty Group, which funded 100 percent of anticipated total
project cost," said Thomas Sherlock, Managing Partner of Buchanan Street Partners.
"Stratus Commercial had secured the opportunity to acquire a well-positioned Inland Empire land
parcel and entrusted Buchanan Street Partners to obtain a construction loan and joint venture
equity partnership for the land acquisition as well as the construction of 70 attached single
family residencies," said Aden Kun, vice president, Buchanan Street Partners Los Angeles
office. "Buchanan Street worked closely with Vineyard Bank to procure the acquisition and
development loan as well as with Phoenix Realty Group to establish the joint venture
relationship."
Stratus Commercial, a Newport Beach-based real estate development company, has partnered with
Phoenix Realty Group, a New York-based company providing capital and expertise to urban developers
while also providing opportunistic rates of return to institutional investors.
In 2005, Buchanan Street partners closed $2.4 billion in debt and equity transactions for
developers and owners.
The new residential development known as Five Corners Rialto is located on the Southwest corner of
Bloomington Avenue and Riverside Avenue in Rialto, Calif. The joint venture partnership plans to
start construction in June 2006 on the five model homes and 65 residential units.
"Buchanan Street Partners was pleased to successfully complete our first financing assignment on
behalf of Stratus Commercial, especially when the client benefited from a solution for 100% of
the capital stack," continued Mr. Kun. "In every transaction, Buchanan Street Partners identifies
the strategic needs for a successful outcome and utilizes deep market relationships to pair clients
with the appropriate institutional capital source, loan structure and joint venture relationships."
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.
