FOR IMMEDIATE RELEASE
Contact: Jessica Neuman
IDEA HALL
(714) 436-0855 ext. 31
jessica@ideahall.com
Buchanan Street Partners Structures Financing For a Joint Venture between Second Street Ventures and AEW Capital Management
- Buchanan advises Second Street Ventures and AEW Capital Management on financing acquisition of property in Burbank, CA
- Buchanan Street Partners structures financing to cater to multiple business plan options for the property
Newport Beach, CA (November 13, 2006) - Buchanan Street Partners, a national real estate investment
bank, arranged a $15.5 million loan for Second Street Ventures and AEW Capital Management to acquire 2777
North Ontario Drive, an office building in Burbank, CA. AEW acquired the property on behalf of AEW
Partners V, a real estate opportunity fund. The 117,000-square-foot property includes an attached
warehouse and is currently occupied by media and entertainment post-production tenants. The building
sits less than a mile from the 5 Freeway, Burbank Airport, and Burbank's Media District.
The borrowers have multiple business plan options for the property, depending on future leasing decisions
by the current tenants. "We advised the Sponsor on a fixed rate structure with option for future funding
and prepayment flexibility," said Tim Hawthorne, executive vice president of Buchanan Street Partners.
"This five-year loan was priced significantly less than typical bridge financing, had interest only
payments and still provided the client with great flexibility within their business plan."
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 debt and structured
finance and investment sales for commercial, multi-family and hotel 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.
Second Street Ventures…
Second Street Ventures is a real estate development firm that specializes
in Southern California urban projects. The firm focuses on high-density urban infill, adaptive reuse,
live/work, office and retail development. The company is headquartered in Marina Del Rey, CA. For more
information, visit
www.secondstreetventures.com.
AEW Capital Management…
Founded in 1981, AEW Capital Management, L.P. (AEW) provides real estate
investment management services to investors worldwide. Currently, AEW and its affiliates manage over $34
billion of gross real estate assets and securities on behalf of many of the world's leading institutional
and private investors. Headquartered in Boston, AEW also has offices in Los Angeles, London and
Singapore, as well as affiliate offices in Paris and nine other European cities. To learn more about
AEW, please visit
www.aew.com.
