(Read more on the debt and equitymarkets.)
NEWPORT BEACH, CA-Not quite a year ago Buchanan Street Partnersbegan exploring the idea of bringing in a third-party equitypartner. Around the same time, Trust Company of the West began itsinitiative to enter the real estate market. Now the two have cometogether 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 arebeing kept private.
According to industry sources, Buchanan Street Partners, led bypresident 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, inits bid to make this strategic play--and TCW had all the boxeschecked.
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