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Contact: Jessica Neuman
IDEA HALL
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Buchanan Street Partners Structures Office Acquisition Financing for Triple Net Properties
- Triple Net Properties acquired Lavaca Plaza in Austin, Texas
- Buchanan Street Partners structured the financial package for Triple Net Properties
Newport Beach, CA (November 16, 2006) - Buchanan Street Partners, a national real estate
investment bank, arranged a bridge loan paired with an interim mezzanine for Triple Net Properties.
Buchanan Street also arranged an equity portion into the structure, which was provided by Pacific
Coast Capital Partners. The financing package allowed Triple Net Properties to acquire Lavaca Plaza,
a 138,000-square-foot Class B+ office building in downtown Austin, TX.
"The Austin office market continues to thrive as vacancy rates tighten and rental rates experience
substantial growth," said Chris Dornin, vice president of Buchanan Street Partners' Advisory Team.
"Triple Net Properties saw an opportunity in this market and we provided quick results as the deal
closed in 30 days."
Buchanan Street Partners achieved a highly leveraged capital stack of 90 percent loan to value as well
as joint venture equity up to 98 percent LTC for the acquisition of the Lavaca Plaza office building.
Buchanan's relationship with lenders permitted flexibility to structure the loan that maximizes the
sponsor's ability to complete its business plan.
About Buchanan Street…
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.
