Buchanan, GW Partner for 110,772-SF Office

The Newport Beach, CA-based partners bought a class B office property situated on 10.4 acres at 4415-4625 S. Wendler Rd. "We already had a relationship with the sponsor, which made the deal attractive to us," says John Pantone, senior vice president with Buchanan Street Partners, citing the asset's stability as another dealmaker. Buchanan Street kicked in equity and Nomura Group of New York City provided the loan.

Pantone tells GlobeSt.com that the upside is the available space in the 90%-occupied Corporate Fountains, which was built in 1985. The quoted rate is $19.50 per sf. He says there are no immediate plans for major renovations.

Coinciding with the Corporate Fountains acquisition, Buchanan Street partnered with Chicago-based Golub & Co. to buy five class B buildings, totaling 345,578 sf in Creve Cour, MO. Buchanan Street contributed $6 million in equity for the Missouri portfolio.

Though the Missouri acquisition is Buchanan Street's first with Golub, GW Realty of Newport Beach has partnered with the investment bank in the past. "What we often do is develop relationships with sponsors that will lead to good transactions," Pantone says. "Both of them are sponsors we like and would want to do repeat business with."