FOR IMMEDIATE RELEASE
Contact: Lauren Smith / Jessica Neuman
IDEA HALL
(714) 436-0855 ext. 23 / 31
lauren@ideahall.com /
jessica@ideahall.com
Buchanan Street Partners' Hotel Investments Sales Team to Market Sale of San Francisco's Monticello Inn
Third and Final Loan for Buena Vista Equity's 30-Acre Mixed-Use Project
Antioch and Newport Beach, CA (June 20, 2006) - Buchanan Street Partners, a national real
estate investment bank, announced today that it has secured a $47.3 million (91% LTC) land acquisition
and construction financing for Kest Investments and Buena Vista Equities' joint partnership, Deer
Pacific, LP. The loan, provided by Bank of America, combines three previous financings into one master
loan which will fund the completion of the Deer Valley Business Park project in Antioch, CA.
The Deer Valley Business Park is situated on approximately 30 acres at Lone Tree Way and Country Hills Drive,
located across from a new grocery-anchored retail center and theater complex. The five-parcel, mixed-use
project broke ground on June 17, 2004 and includes 35 buildings totaling 219,412 square feet of for sale
office and retail. MS Walker & Associates, Inc. is construction manager and general contractor for the
site.
"The capital markets are still very aggressive on small for sale building projects," said Thomas Sherlock,
Buchanan Street Partners managing partner. "The occupancy in Antioch is almost 100% and there has not
been any new buildings delivered to the market in many years. Buena Vista Equities is capitalizing on a
very tight market and a huge demand from small- and medium-sized businesses looking to own their own
building." Financing was arranged by Chris Dornin and Stephen Hagerman of Buchanan Street Partners.
"We exclusively commissioned Buchanan Street Partners in 2003 to secure debt and equity for the Deer Valley
Business Park," said Carl Willgeroth, managing director of Buena Vista Equities, LLC. "They continued their
record of excellent service by obtaining market financing this time that negated the need for an
additional joint-venture equity partner."
Past projects where Buchanan Street Partners secured financing for Buena Vista Equities, LLC include Scripps
Poway Office Park in Poway, Days Inn in Sacramento, and Delta Business Park in Antioch, CA.
About Buchanan Street…
Buchanan Street Partners is a real estate investment bank that provides
real estate capital for owners and developers. The firm 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. Offices are located in Newport Beach, Los Angeles, San Francisco, Chicago
and Atlanta.
Recent activity on behalf of clients includes arranging the sale of Hotel Griffon in San Francisco and
securing a construction loan for the conversion of 74 New Montgomery Street, also in San Francisco,
into condominiums.
The company's recent activity in San Francisco includes arranging the sale of Hotel Griffon and
securing a construction loan for the conversion of 74 New Montgomery Street, a historic office
building, into condominiums.
About Buena Vista Equities…
Buena Vista Equities, LLC, a member of the McKinley Reserve family of
companies, is a privately held investment and real estate development firm specializing in developing
mixed-use facilities, industrial centers, apartments, and retail malls throughout the US. Based in
Irvine, CA, the company seeks projects which add community value, working directly with local
governments on large-scale initiatives, operating as both the principal investor and developer. For
more information visit
www.buenavistaequities.com.
