Bixby acquired 11 buildings totaling 816,000 sf at fivelocations in Newport Beach, Irvine and Seal Beach in the Maguiretransaction. It bought the properties in a joint venture with theAFL-CIO Building Investment Trust, for which PNC Realty InvestorsInc., a subsidiary of the PNC Financial Services Group, providesinvestment advisory and management services.

Bixby's financing for the transaction included $233 million thatwas arranged by Newport Beach-based Buchanan Street Partners andwas the second-largest financing in Buchanan's history. TomSherlock, managing partner at Buchanan Street, notes that the dealclosed inside of 30 days.

Details about the new Bixby building and its constructionschedule were not immediately available, but the NewportBeach-based company, a private REIT, has been expanding boththrough acquisitions and developments lately. It has bought and/orbuilt in other Southern California markets, including the InlandEmpire, and entered the Phoenix market this year as well.