Buchanan Street Partners Funds $25 Million Construction Loan On Whittier Retail Center

Whittier, CA (October 13, 2020) – Buchanan Mortgage Holdings, LLC provided a $25 million construction loan for the development of The Groves Shopping Center, a family-oriented retail concept at the entrance of a new master-planned residential community in Whittier, California. The 16-acre site will feature a Stater Bros. Market, In-N-Out, Raising Cane’s, Chipotle, EOS Fitness and a public food market.

Buchanan provided this financing during the pandemic to allow for the delivery of pre-leased pads and to complete the development across the entire retail site, which should facilitate additional leasing velocity and ultimately lead to the completion of the project.

“We saw the value of best in class sponsorship coupled with a business plan that was focused largely on the development of a grocery anchor and quick-service restaurant retail, during a time when most lenders are ceasing to fund retail in general,” stated Joe Maehler. “At Buchanan we’ve always focused on the sponsor and business plan, and this opportunity excelled at both.”

About Buchanan Street Partners

Buchanan Street Partners is a real estate investment management firm based in Newport Beach, California that focuses on value-investing in both commercial and multifamily direct ownership and in making debt investments. The Buchanan team has invested through multiple real estate cycles, enabling them to identify opportunities and maximize value while prioritizing principal preservation.

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