Buchanan Street Partners, a real estate investment management firm, has announced the $8.2 million renovation of the office tower at 5613 DTC Parkway. Much of the renovation work has been completed and some outside elements are wrapping up. The 224,000-square-foot, 12-story building has also been renamed Axis Tower @ DTC.

Buchanan Street Partners closed 2018 on a high note, completing one of the largest apartment transactions of the year in Colorado. The Newport Beach-based real estate in­vestment management firm paid $72.5 mil­lion for Creekside at Palmer Park, a 328-unit complex five miles east of dow­town Colorado Springs. The deal went for about $221,000 per unit. By total price, it was the largest sale of the year in that city, according to the buyer.

Buchanan Street Partners has finished construction on a 298-unit luxury community in Herriman, Utah. The company also began leasing the apartments, which are restricted to residents age 55 and over. Incline at Anthem is a Class A multifamily asset that Buchanan purchased in 2017 while it was partially completed. Located at 11901 Freedom Park Drive, the property is adjacent to the southern boundary of Daybreak, Utah’s largest master-planned community. Downtown Salt Lake City is roughly 23 miles away. Apartment interiors feature contemporary designs and finishes, programmable thermostats and lighting and USB charging outlets. Amenities include:

One of the busiest apartment developers in North Texas is partnering with two out-of-state investors on a new, mixed-use project near the Galleria shopping mall. Newport Beach, Calif.-based Buchanan Street Partners and Minneapolis-based CarVal Investors will pump $16 million into the first phase of the Alpha West development in Farmers Branch. Irving-based apartment builder JPI is constructing a 409-unit, $74 million apartment complex as part of the project at the southwest corner of Inwood and Alpha roads.

Newport Beach-based Buchanan Street Partners has closed a $20.8M construction loan to a developer for Newhall Crossings, a mixed-use project in downtown Newhall in the Santa Clarita Valley. Buchanan officials did not disclose the name of the developer, but multiple media outlets have previously reported the developer of the project is Serrano Development.

Developers should build in markets that will absorb new construction pipelines adequately because, in some markets, rents are now softening as supply is exceeding demand, Buchanan Street Partners’ Tim Ballard tells GlobeSt.com. NEWPORT BEACH, CA—Apartment developers should make sure to build in markets that will absorb new construction pipelines adequately because, in some markets, rents are now softening as supply is exceeding demand, Buchanan Street Partners’ president Tim Ballard tells GlobeSt.com.

HOUSTON—Although many were not so lucky, Buchanan Street Partners and Boxer Property report that office assets did not sustain any flood damage and give high praise to property management teams for heroic efforts. Before Hurricane Harvey, there was increasing opportunity in Houston’s office sector as a result of the distress in the energy sector, according to Buchanan Street Partners. After Harvey, how are those investments holding up?

Newport Beach-based Buchanan Street Partners has acquired Bayland Building, an office project near Levi’s Stadium in Santa Clara. Buchanan Street bought the building from Sleepy Hollow Investment Co. for $32.3 million and will execute capital improvements. The 116,000-square-foot building is 100 percent leased to four tenants led by Inphi Corp. Bayland is at 2953 Bunker Hill Lane is within walking distance to the Santa Clara Convention Center, Levi’s Stadium and a light-rail station. Eastdil Secured’s San Jose team represented the seller in this transaction. Buchanan Street represented itself.

Buchanan Street Partners closed an $8.6 mil loan for construction of The Roosevelt, a 32-unit residential townhome development in Tempe, AZ. The project, located at 225 South Roosevelt St in Tempe, will be developed by a joint venture between a regional multifamily developer and a private real estate investment firm based in Scottsdale, AZ.

Buchanan Street Partners, a real estate investment firm based in Newport Beach, Calif., that invests debt and equity capital on behalf of institutional and private investors, announced March 28 its launch of a new multifamily investment platform. As part of the initiative, the company plans to deploy $500 million over the next five years to acquire and manage value-add and core-plus assets. Kevin Hampton, former president of PLC Apartments, also in Newport Beach, has been hired as an executive vice president to lead the company’s new initiative.

NEWPORT BEACH, CA—In many coastal California markets, there is a tremendously deep investor base focused on California, often resulting in pricing that has outpaced fundamentals, Buchanan Street Partners’ president Tim Ballard tells GlobeSt.com. As we recently reported, the firm has purchased a 224,000-square-foot transit-adjacent office tower in Denver’s largest office submarket and is eyeing other markets outside of California. We spoke with Ballard about what is drawing the firm to these other markets and what their buying strategy is for these other regions.