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Buchanan St. Funds $25M Construction Loan for Whittier Retail Center
Newport Beach-based Buchanan Mortgage Holdings, LLC provided a $25-million construction loan for the development of a family-oriented shopping center at the entrance of The Groves, a new master-planned residential community in Whittier. The 16-acre retail site will feature a Stater Bros. Market, In-N-Out, Raising Cane’s, Chipotle, EOS Fitness and a public food market.
Buchanan provided the financing during the pandemic to allow for the delivery of pre-leased pads and to complete the development across the entire retail site, which should facilitate additional leasing velocity and ultimately lead to the completion of the project.
Buchanan Street Partners’ Joe Maehler says, “We saw the value of best-in-class sponsorship coupled with a business plan that was focused largely on the development of a grocery anchor and quick-service restaurant retail, during a time when most lenders are ceasing to fund retail in general.”
For comments, questions or concerns, please contact Dennis Kaiser
- ◦Financing
- ◦Development




