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June 2, 2005

Buchanan Street Partners

Newport Beach, Calif.-based Buchanan Street Partners, a real estate investment bank, secured $36.5 million in financing for two Seattle-area properties: Linbrook Office Park in Kirkland and The Landmark in Renton. Buchanan got $19.5 million in structured financing on behalf of Flynn Properties to fund improvements and ongoing leasing of the 275,000-square-foot Landmark, a two-building office campus previously known as East Valley Office Center. Buchanan Vice President John Manning said Prudential Capital Group is the funding source. Conference rooms, a fitness center, dining area and a fountain courtyard will be added. Wizards of the Coast is renting 90,000-square-feet in the property's West building. Buchanan Street Partners secured a $17 million bridge financing loan for Hines Linbrook Associates LLP to purchase the 24-building, 106,000-square-foot Linbrook property. Timothy R. Hawthorne and Jared J. Rogers of Buchanan Street Partners advised Hines on the capital sources. Fremont provided a 77 percent loan to total project costs.




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