Matthew Doerr Assumes the Position of Vice President for the Company’s Proprietary
Lending Business at Time of Escalating Investment Activity
Newport Beach, Calif. (July 26, 2016) – Buchanan Street Partners has hired Matthew Doerr as Vice President to lead the company’s growing bridge loan platform under Buchanan Mortgage Holdings, the company’s proprietary lending business. His appointment comes at a time of increased lending activity, following the recent closing of three loans totaling $30 million.
Doerr has more than 13 years of experience underwriting and managing debt and equity assets in excess of $1 billion. At Buchanan Street, he will lead the structuring and underwriting of loans originating from Buchanan Mortgage’s balance sheet to accommodate acquisition, construction, redevelopment or project recapitalization across primary and secondary Western markets. Prior to joining Buchanan Street, he served as Director at Union Bank and Vice President at iStar Financial.
“Matthew brings institutional expertise to our team during an integral part of the platform’s growth,” said Tim Ballard, President of Buchanan Street Partners. “Following the recent regulatory changes imposed on banks by the Federal government, there is an increase in opportunity to participate in space that was previously controlled by banks. We look forward to leveraging Matthew’s leadership skills as we continue to respond to market demand.”
Recently, Buchanan Street has experienced an increase in lending activity, marked by the closing of three loans for its new lending platform. The company provided a $12.33 million land loan to refinance a development site in Camarillo, California. The borrower plans to break ground on a 487,000-square-foot shopping center at the end of the year.
Buchanan Street also funded an $8.5 million loan to Cadence Capital Investments for the acquisition of 3032 Wilshire Boulevard, a 9,307‑square-foot retail building in Santa Monica, California. Earlier this year, Buchanan Street provided the same borrower an acquisition loan for a site in Hollywood, California, on which the Colorado-based firm is building a new Gelson’s Market.
“We liked the intrinsic merits of and opportunities presented by the borrowers for each of these projects,” said Ballard. “We were able to structure non-recourse loans to meet a timely close and enable the properties to realize its investment potential.”
Additionally, Buchanan Street provided an $8.5 million loan to refinance a 221-key independent hotel, Rita Suites in Las Vegas, Nevada, amidst record-high visitors to the city last year.
In the last year, Buchanan Street has funded more than $77 million in loans in Nevada, Oregon, California and Arizona. The company originates bridge loans and construction loans for the acquisition, redevelopment, recapitalization or refinance of commercial real estate in primary and secondary Western U.S. markets. The company is a balance sheet lender that funds loans that offer flexible lending structures to accommodate varied borrower needs.
ABOUT BUCHANAN STREET PARTNERS
Buchanan Street Partners is a real estate investment management firm based in Newport Beach, California that invests debt and equity capital on behalf of institutional and private investors. Since its inception, Buchanan Street has invested and structured approximately $17 billion of capital in a broad range of equity and debt real estate investments throughout the United States. A highly skilled team has invested through multiple real estate cycles enabling them to identify opportunities and maximize value while prioritizing principal preservation. For more information: www.www.buchananstreet.com.
FOR IMMEDIATE RELEASE
Nicole Inal
IDEA HALL
nicole@ideahall.com
714.263.8731
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