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Buchanan Street Announces Record Year

NEWPORT BEACH, CA-The real estate investment bank reports an increase of 98% above its 2000 performance. It arranged $814 million in debt and equity through 75 transactions last year.

By Erin Cassin | Updated on January 31, 2002

NEWPORT BEACH, CA-Buchanan Street Partners, the Newport Beach-based real estate investment bank, has reported a significant increase in loan volume for 2001. The company has arranged $814 million in debt and equity through 75 transactions last year, which reflects an increase of 98% above its 2000 performance.

Recent transactions include a $28-million capitalization in Long Beach, as well as more than $48 million in secondary funding in Marina del Rey. The firm provided the $28-million capitalization to finance the development of a 221-unit luxury complex in the City Place Mall redevelopment area of Long Beach. Through a combination of construction and mezzanine debt, the transaction was structured to provide for 95% of project cost. The other advisory assignment, a $49-million second funding of permanent financing, will be used for two apartment complexes in Marina Del Rey.

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