Buchanan Mortgage Holdings, LLC (BMH), an affiliate of Buchanan Street Partners, L.P., has provided a $26.5 million senior bridge loan to finance the acquisition and repositioning of a 120,000 RSF retail center in Santa Clarita (CA) at the highly trafficked intersection of Valencia Blvd and Bouquet Canyon Road (100K+ CPD). The Sponsor will execute a value-add business plan comprising a facade renovation and entitlement/development of three drive-thru pad sites along the dual street frontages.
The development is led by a privately-owned real estate investment and development company with a large, diverse portfolio of commercial and residential real estate assets throughout California.
“This is a well-located retail center with a strong sponsor behind it. We are pleased to begin a new relationship with the borrower and look forward to supporting their plan for the property.” said AVP Alex Frosh.
The surrounding area is anchored by Valencia Town Center, a 1.1 million-square-foot regional hub with 170+ stores, 4.3 million annual visits (Placer.ai), and major anchors including Macy’s, JCPenney, H&M, and Princess Cruises’ headquarters, along with nearby centers like Bouquet Canyon Plaza (Trader Joe’s, Best Buy), Whole Foods, Target, and luxury auto dealerships, supporting one of northern Los Angeles County’s premier commercial corridors.
ABOUT BUCHANAN MORTGAGE HOLDINGS, LLC
Buchanan Mortgage Holdings, LLC, an affiliate of Buchanan Street Partners LP, originates non-recourse bridge and construction loans for the acquisition, development, renovation, recapitalization or refinance of commercial real estate located in primary and secondary Western U.S. and Texas markets. The company utilizes its own balance sheet and fully discretionary lending capabilities to provide certainty of execution within short timeframes, flexible loan structures and creative financing solutions. Our extensive experience as an owner and operator of commercial real estate allows us to understand what our borrowers need to successfully execute their business plans and maximize the value of the underlying real estate.
Loans made or arranged pursuant to a California Financing Law License by Buchanan Mortgage Holdings, LLC, an affiliate of Buchanan Street Partners, LP.