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Contact: Jessica Neuman
IDEA HALL
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jessica@ideahall.com
Buchanan Street Partners Commits Nearly $11 Million in Equity for AZ and MO Properties
Firm continues to move "California money" out of state for the best returns.
Newport Beach, CA (December 21, 2006) - Buchanan Street Partners, a national real estate
investment bank based in Newport Beach, CA committed $10.8 million in joint venture equity to
purchase investment properties in Tempe, AZ and Creve Coeur, MO.
In Tempe, Buchanan Street Partners teamed up with GW Realty to purchase Corporate Fountains, a
three-building Class B office property totaling 110,772 rentable square feet on 10.4 acres.
Buchanan Street Partners contributed $4.77 million in equity and also arranged financing of a
$12.5 million permanent loan for the property through Nomura. Corporate Fountains is located at
4415 - 4625 South Wendler Road. The property was 90 percent leased at the time of the acquisition.
The Creve Coeur Office Portfolio purchase is a joint venture with Chicago-based Golub & Company
and includes five Class B buildings totaling 345,578 square feet. Buchanan Street Partners
contributed $6 million in equity. The portfolio is located at or near the intersection of I-270
and Olive Boulevard and was 68 percent leased at closing.
Both transactions offer significant opportunity for property improvements and lease-up strategies.
"Our full-service platform is definitely kicking into high gear," said Tim Ballard, Buchanan Street
Partners chief investment officer and managing partner. "The combination of investment management
expertise and advisory market knowledge gives the firm solid insight into what markets make sense
across the United States. It truly makes us a very compelling partner for commercial real estate
investment and financing."
Buchanan Street Partners has worked with GW Realty previously in both equity and advisory roles.
This is the firm's first equity or advisory deal with Golub & Company.
"Buchanan has a valuable perspective," said Erik Good, GW Realty president. "They see opportunity
like an investment bank and they know every inch of the market like a broker. As a partner, we get
the best of both worlds."
"The team from Buchanan was very focused and completely in line with our expectations," said Andrew
Cathlina, Golub & Company senior vice president. "They understood that we have a track record of
successfully executing this kind of strategy and the partnership with Buchanan gives us confidence
that this investment will enjoy similar success."
About Buchanan Street…
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 GW Realty, Inc. (GWR)…
GWR invests in office, flex and industrial assets, primarily on the
West Coast. Its five principals have more than 100 combined years of commercial real estate
experience including development, finance, acquisitions, dispositions, and asset and property
management. During the past two years, the principals of GWR have been involved in the acquisition
and disposition of more than 40 commercial assets. For more information, visit
http://www.gwrealtyinc.com/.
About Golub & Company…
Since 1960, Golub & Company and its affiliates have developed, owned
and managed more than 30 million square feet of commercial space and in excess of 50,000 multifamily
units. Building on its entrepreneurial approach to real property investment, its professionalism and
vision, Golub & Company continues a long history of exceptional performance and a commitment to
seeking real estate opportunities in international markets. For more information, visit
http://www.golubandcompany.com/.
