(Read more on the debt and equity markets.)

WASHINGTON, DC-Buchanan Street Partners is investing $32.8 million in equity for the acquisition of Hecht’s warehouse distribution center in Downtown DC. Earlier this week, Patriot Equities revealed that it had closed on the landmark multi-building center from Macy’s Inc. for an undisclosed price. It plans to redevelop the 777,000-sf complex into a mixed-use project called Patriot Yards that could either emphasis retail or office/flex and industrial use.

Buchanan acted as the joint venture equity partner and financial advisor to Patriot Equities in the deal. Besides its equity contribution, Buchanan is also negotiating $66.6 million of bridge financing.

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