FOR IMMEDIATE RELEASE
Contact: Lauren Smith / Jessica Neuman
IDEA HALL
(714) 436-0855 ext. 23 / 31
lauren@ideahall.com /
jessica@ideahall.com
BUCHANAN STORAGE CAPITAL ARRANGES $77.25 MILLION IN FINANCING FOR ACQUITISION OF UNITED STORAGE PORTFOLIO
Newport Beach, CA (September 27, 2006) - Buchanan Storage Capital (BSC), a subsidiary of real
estate investment bank, Buchanan Street Partners, recently arranged structured financing for a portfolio
equity partnership buyout by United Stor-All Centers (United) totaling $77.25 million. The portfolio
includes nine facilities in Florida, New Jersey, New York, Pennsylvania and Virginia.
United requested that BSC provide a 5-year, interest only, fixed rate loan even though some of the
properties were still in lease-up with the ability to earn-out additional proceeds upon stabilization.
"We were able to help United accomplish its financing goal by identifying a non-recourse portfolio lender
willing to underwrite to less than a breakeven debt coverage ratio and provide an interest only fixed
rate with prepayment flexibility," said Joe Maehler, BSC's Capital Markets Specialist. "These benefits
are not available from a traditional CMBS (Commercial Mortgage Backed Securities) lender."
The properties will operate under the United Storage brand of United Stor-All Centers, a fully
integrated real estate organization focused solely on the self-storage industry with expertise in
ownership, acquisition, development, construction and management of self-storage properties. United
is one of the fastest growing companies in the storage industry, as they currently own more than 22
facilities and manage more than 30 facilities nationwide, with plans to acquire numerous existing
assets and develop new properties over the next few years. For additional information, visit
www.unitedstorall.com.
About Buchanan Storage Capital…
Buchanan Storage Capital is the leading provider of capital to self-storage
owners nationwide. Their customers access competitive debt & equity through proprietary programs like
Buchanan Fixed Rate Direct™ and through their advisory services, leveraging off Buchanan's long-standing
relationships with the top storage lenders. The principals of Buchanan Storage Capital,
Jim Davies and
Eric Snyder, have a $2.5 billion track record in storage
financing and the firm closed over $450 million in 2005. Parent company, Buchanan Street Partners, a
leading real estate investment bank, has completed over $10.5 billion of transactions since its inception
in 1999. For additional information, please call 800.675.1902.
About Buchanan Street Partners…
Buchanan Street Partners is a national real estate investment bank that
provides real estate capital and advisory services for owners and developers and investment management
for institutional and high-net-worth investors. The firm's advisory services include structured finance
and investment sales for commercial, multi-family, hotel and self storage properties. Buchanan's
investment management business invests equity and structured debt capital with local operating
partners nationally. Offices are located in Newport Beach, Los Angeles, San Francisco, Chicago,
Atlanta and Washington D.C.
