FOR IMMEDIATE RELEASE
Contact: Jessica Neuman
IDEA HALL
(714) 436-0855 ext. 31
jessica@ideahall.com
Buchanan Street Partners Advises on the Sale of Airport Plaza
- Buchanan Street Partners helps Pacifica RE Group and Investcorp sell two Class-A office buildings
Newport Beach, CA (November 2, 2006) - Buchanan Street Partners, a national real estate investment
bank, advised on the sale of Airport Plaza. Legacy Partners purchased the two Class-A office buildings
for $23 million from Pacifica Real Estate Group and Investcorp International. The transaction represents
the second investment sale that Buchanan Street Partners has completed for Pacifica Real Estate Group
and Investcorp.
Legacy Partners, a pension fund advisor, purchased Airport Plaza for $185 per square foot. The building
tenants include Verizon, Federal Aviation Administration, Embry-Riddle Aeronautical University, and
Majestic Insurance Co, among others. The two buildings are on a ground lease and part of the business
park, comprised of the Long Beach Airport Business Center and the Kilroy Airport Center.
Airport Plaza is located adjacent to Long Beach Airport and near Ports of Long Beach and Los Angeles.
The location has seen an expansion in international trade. The LA County Economic Development
Corporation expects two-way trade in the Long Beach and Los Angeles region to grow 12 percent in '07
and 13 percent in '08.
About Buchanan Street Partners…
Buchanan Street Partners is a national real estate investment bank that
provides real estate capital for owners and developers and investment management for institutions and
private investors. The firm's investment banking services include debt and structured finance and
investment sales for commercial, multi-family and hotel properties. Offices are located in
Newport Beach, Los Angeles, San Francisco, Chicago, Atlanta and greater Washington D.C.
About Pacifica Real Estate Group…
Pacifica Real Estate Group is headquartered in Santa Barbara and
has offices in Newport Beach and Santa Maria. The firm specializes as a principal acquiring on their
own behalf commercial and industrial properties located primarily in Southern California, Arizona and
Nevada. The company focuses on asset and property management. For more information, visit
www.pacificarealestate.com.
About Investcorp…
Investcorp operates in New York, London and Bahrain. The firm acts as
a principal and an intermediary in investment transactions. The company specializes in corporate,
technology, and real estate investment, as well as global asset management. The real estate division
operates in the New York office and has acquired more than 150 properties since 1995. For more
information, visit
www.investcorp.com.
