Encompassing 33,000 sf, the building is currently configured for multi-tenant use. However, the recently secured bridge financing will enable the owner to convert the Leed Metro Center to single-tenant occupancy by the County of Orange Probation Department. A complete interior renovation is planned.
The financing has been arranged by Buchanan Street Partners, which will also provide permanent financing once the County of Orange moves into the facility. Aside from arranging realty capital for real estate owners and developers, the Newport Beach-based real estate investment bank also invests discretionary capital on behalf of its private and institutional clients through The Buchanan Funds.
The Leed Metro Center loan is the latest in a string of transactions that Buchanan Street Partners has arranged in the past several months, including $45 million in permanent financing that was used to recapitalize Harden Ranch Plaza in Salinas and a $26.9-million construction loan for Carneros Partners' luxury hotel project in Napa Valley.
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