Buchanan Mortgage Holdings, LLC (BMH), an affiliate of Buchanan Street Partners, L.P., provided a $22.7 million construction loan for Fairway Business Park Phase Ill in Lake Elsinore, California.

The third and final phase of the industrial business park will offer six modern owner-user sized warehouse buildings, on separate parcels, totaling 149,500 square feet.

The sponsor, a multi-generational Orange County-based commercial and residential developer, was represented by Walker & Dunlop to secure the two-year floating-rate construction loan.

“We are thrilled to support the development of Fairway Business Park Il and to establish a lending relationship with such a respected sponsor based nearby Costa Mesa”, said SVP Chris Cervisi. “This was a unique opportunity to provide financing at an attractive basis ($152/SF) for a product type that has remained resilient in Southwest Riverside County, where vacancy rates for 10,000 to 50,000 square-foot buildings remain below 4%.”

Lake Elsinore has experienced significant population growth, adding over 1,000 residents since 2020- na average annual increase of 50.%. Fairway Business Park is conveniently located within one mile of both I-15 and SR-74, offering direct access to Riverside, Orange County, and San Diego, making ti an ideal location for small to mid-sized industrial users.

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.