In his new role, Sherlock will oversee Buchanan's advisory services division, Buchanan Capital Advisors, which arranged approximately $1.1 billion in debt and equity financings in 2003, a 35% increase over the previous year. Sherlock, who joined Buchanan 2000 and formerly was a senior vice president with the firm, has a 20-year background in the real estate finance industry.

Dougherty has been hired as a vice president at Buchanan Capital Partners, the division within Buchanan Street that invests the firm's equity and mezzanine capital. He has been in the commercial real estate industry for 14 years, including 10 years with Carr America Realty Corp. in Washington, D.C. Dougherty will be responsible for the underwriting, closing and ongoing management of investments at Buchanan Capital Partners, which makes equity and mezzanine investments in the range of $5 million to $20 million for the acquisition, development and repositioning of commercial property in the Western United States. The group, which made approximately $70 million in equity and mezzanine investments in 2003, plans to invest $125 million in equity and mezzanine debt in 2004.