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4/24/08
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OC-based Buchanan Street Partners was recently awarded investment management contracts from three commingled real estate investment funds that were formerly managed by San Francisco-based investment advisors, Maier Siebel Baber (MSB), an affiliate of Bank of America Corporation. The advisory contracts include the management of three funds – M&S Real Property Fund II, M&S Real Property Fund IV and M&S Real Property Fund V – that have invested in a number of significant office properties located in Phoenix, Salt Lake City, Denver, and San Antonio. In connection with the new assignment Buchanan has hired nine members of MSB’s professional staff who will work out of Buchanan’s San Francisco regional office.
“Buchanan’s hiring as investment advisor for these funds reflects a continued expansion of our fund management beyond our traditional value-add activities and further into the core plus arena,” said Robert Brunswick, President and CEO of Buchanan Street Partners. “Additionally, the transaction strengthens our presence in the Bay Area and represents our commitment to meaningful growth in San Francisco, the birthplace of our company.”
The office properties involved in the transaction have an estimated combined value in excess of $175 mil with a total size of over 1.2 msf. Buchanan plans to retain, on at least an interim basis, all existing property managers and leasing teams currently involved with the properties.
Two of the key employees Buchanan hired from the MSB team include Hamilton Kipp and Tina Mizukami, who will work out of the firm’s San Francisco office. Kipp will serve as Vice President - Principal Investment Officer, having responsibility for real estate transactions for the subject portfolio and beyond. He has been with MSB since 1998 and has completed office, industrial and retail transactions totaling over $1 bil.
Mizukami is joining Buchanan Street Partners as Vice President - Investment Management with primary asset management responsibility for the acquired properties in the funds. She has been with MSB for five years.
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