Buchanan Street Partners has acquired a 99K SF Newark, California, complex for $26.2M, or about $262 per SF, with plans for significant upgrades to meet local life science and tech demand, the company said Tuesday.
Buchanan Mortgage Holdings has closed a $55 million loan for construction of The Orchard, a mixed-used residential and retail development in Azusa, approximately 20 miles east of Los Angeles. The borrower, Serrano Development Group, will use the loan to construct 163 market-rate apartments and 31,700 square feet of retail space.
Two loans totaling more than $130 million were announced for multifamily properties in Paramount and Azusa last week. A $76.3 million loan was granted for The Enclave, a 306-unit multifamily building at 13801 Paramount Blvd. in Paramount.
The property is a transit-oriented development that will anchor downtown Azusa at the corner of N. Azusa Ave and historic Route 66. The site offers walkable access to the Azusa Pacific and Citrus Colleges, as well as the Downtown Metro Goldline, which is a 45-minute public transit commute to Downtown...
Buchanan Mortgage Holdings, the finance arm of Newport Beach-based Buchanan Street Partners, has delivered a $55-million construction loan for The Orchard, a 177,000-square-foot mixed-use residential and retail development located in Azusa, CA.
Buchanan Street Partners closed a construction loan for The Orchard, a 177,000 SF mixed-use residential and retail development located in Azusa, CA. The development represents the borrower’s second mixed-use development and non-recourse construction loan with Buchanan in the last two years.