FOR IMMEDIATE RELEASE
Contact: Lauren Smith / Greg Young
IDEA HALL
(714) 436-0855 ext. 23 / 25
lauren@ideahall.com /
greg@ideahall.com
Buchanan Street Partners Arranges $34.7 Million for Birtcher Development and Investments' Latest Industrial Project
- Project is the fifth that Buchanan Street Partners has helped finance for Birtcher.
- 90.5 acres in Riverside; four buildings from 40,000 to 187,000 square feet.
Newport Beach, CA (July 15, 2006) - Buchanan Street Partners, a national real estate
investment bank, announced today that it has secured a $34.7 million construction loan for Birtcher
Development and Investments to develop Birtcher Business Centre at Mt. Vernon in Riverside. The loan
was funded by Guaranty Bank.
The land, located at Palmyrita and Mt. Vernon Avenues in Riverside, offers a prime location for a very
hot product. Conerstone/Mass Mutual will purchase the completed development, slated to include four
buildings ranging from 39,900 to 187,900 square feet.
"The capital markets are very focused on industrial product in Southern California and this project is
a perfect example of that," said Chris Dornin, Buchanan Street Partners vice president. "Finding
industrial land in the Inland Empire is not easy, but discovering 90.5 acres of well located, entitled
real estate in Riverside is exactly the kind of expertise Birtcher Development and Investments has
demonstrated numerous times."
"Buchanan Street Partners has come through for us every time," said Brandon Birtcher, president and sole
owner of Birtcher Development & Investments. "They secured an excellent financing package for us that
made this project look even better to the buyer."
Past projects where Buchanan Street Partners secured financing for Birtcher Development and Investments
include Corona Crossroads, Paramount Distribution Center, South Coast Home Furnishing Centre and
General Street.
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.
About Birtcher Development & Investments…
Since 1939, the Birtcher name has been synonymous with enduring design and creating unique business
environments. Birtcher has developed more than 60 million square feet of office, industrial and retail
projects throughout the Western US and Southern California. Today, Birtcher Development & Investments is
solely owned by Brandon Birtcher who carries on the family's four-generation development legacy.
Current developments include the South Coast Home Furnishings Centre, an eight-building specialty retail
destination in Costa Mesa, CA; Birtcher Commerce Center, a 551,000-square-foot state-of-the-art
distribution center in Paramount, CA; and Birtcher Business Center Vancouver, a 216-acre industrial
park in Vancouver, WA. For more information, please visit
www.birtcherdevelopment.com.
