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NEWPORT BEACH, CA-Not quite a year ago Buchanan Street Partners began exploring the idea of bringing in a third-party equity partner. Around the same time, Trust Company of the West began its initiative to enter the real estate market. Now the two have come together in a strategic deal that gives Los Angeles-based TCW a 51% stake in Buchanan. Both parties declined to comment on the deal, citing SEC regulations. Financial details of the transaction are being kept private.

According to industry sources, Buchanan Street Partners, led by president and CEO Robert Brunswick, talked to a number of firms, retained an investment bank and talked with strategic investors, such as insurance companies, domestic banks and foreign banks, in its bid to make this strategic play--and TCW had all the boxes checked.

TCW, with approximately $150 million in assets under management, is a wholly owned subsidiary of Soceite Generale, giving Buchanan Street access to international markets. The deal is also a win-win for Buchanan because it allows the company to retain its name and its Newport Beach headquarters, an industry source tells GlobeSt.com. "[Buchanan] will also retain all discretion over all the company's investments," the source adds.