FOR IMMEDIATE RELEASE
Contact: Jessica Neuman
IDEA HALL
(714) 436-0855 ext. 31
jessica@ideahall.com
Buchanan Street Partners Closes Third Quarter of 2006 with 36 Percent Increase Over 2005
Real Estate Investment Bank Also Hires Three Executives from Top National Firms
Newport Beach, CA (November 1, 2006) - Buchanan Street Partners, a national real estate investment
bank, announced record closed transactions through the third quarter of 2006. Year-to-date, the firm is
tracking 36 percent higher total transaction volume than the same period in 2005.
"We've continued to enhance our reputation as a preferred choice for structured finance, investment sales,
and equity solutions for developers of commercial real estate," said Tom Sherlock, Buchanan Street's
Managing Partner. "We've also been privileged to retain the trust and confidence of clients like Hines,
Chase Merritt, The Emerald Fund, Higgins Development and Makar Properties. We have significantly grown
our investment management business as well, putting more than $1.2 billion into property through joint
ventures with local operating partners in 2006."
The firm anticipates growing its employee base from 66 to upwards of 100 employees in the next 24 to 36
months. Most recently, two three executives have joined Buchanan Street Partners from Lennar, LaSalle
Bank, and Maguire Properties, respectively:
- Mike Huntley has been appointed Vice President in the Newport Beach office. Huntley is responsible for managing the capital market strategy for client's transactions, including structuring and negotiating debt and equity on their behalf.
- Michael Hurst has joined Buchanan Street as Vice President in the Newport Beach office. Hurst is responsible for the firm's capital market relationships and negotiating and structuring the capital stack on behalf of the firm's clients.
- Marco Vartanian has joined the company as Assistant Vice President with Buchanan's investment sales team. He is responsible for overseeing the marketing, buyer's due-diligence, and property valuation.
Recent advisory transactions include:
- Westlake - Four transactions for San Mateo-based Westlake Development Group, LLC totaling $97.4 million. The transactions encompass Gresham Station Shopping Center in Gresham, Oregon; Gresham Station North in Gresham, Oregon; City Center West in Las Vegas, Nevada; and Molina Building in Albuquerque, New Mexico.
- Hines - A $111 million construction loan for Hines to develop Tower 333, a 20-story office tower in downtown Bellevue, Washington.
- Airport Plaza - Sale of two Class "A" office buildings, Airport Plaza, for $23 million in Long Beach, CA. This marked the second investment sale transaction that Buchanan represented for Pacifica Real Estate Group and Investcorp.
- King George Hotel - Exclusive representation to market San Francisco's King George Hotel. The 10-story boutique hotel is situated in the heart of downtown San Francisco.
"Buchanan Street is focused on continued growth in our commitment to our employees, in relationships with
our clients and in strengthening the synergy of our service platform," said Robert Brunswick, President and
CEO.
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.
