(Richmond, VA – June 13, 2002) – Richmond-based John B. Levy & Company, Inc. announced today the placement of $5,000,000 in long-term permanent financing on behalf of Ludwell Apartments LLC. The financing was secured by the Ludwell Apartments, a student apartment project located adjacent to the William and Mary campus in historic Williamsburg, Virginia. The property was financed with a permanent mortgage having a 10-year term that amortizes over 30 years.
The Ludwell Apartments are master-leased on a short-term basis to the Commonwealth of Virginia/College of William and Mary and have been utilized as rental housing for primarily graduate students at the college for over 30 years.
(Richmond, VA – May 3, 2002) – Richmond-based John B. Levy & Company, Inc. announced today the placement of $13,100,000 in long-term permanent financing on behalf of Turning Basin LLC. The financing was secured by a newly constructed office building in Richmond, Virginia located across from the city’s historic Turning Basin waterfront area. The new development, which comprises 95,000 square feet, is called the Turning Basin Building and is a part of a multi-phased restoration project in the popular riverfront area.
(Richmond, VA May 14) — Richmond-based John B. Levy & Company, Inc., a commercial real estate investment firm, announced today the placement of $25,000,000 in construction financing for a new build-to-suit facility for Computer Sciences Corporation (CSC). The 12-story, “Class A” building for CSC is currently under construction across from the Internal Revenue Services headquarters adjacent to the New Carrollton Metro Station.
Development of the Metroview/CSC building is the largest private sector real estate office investment in Prince George’s County history.
(Richmond, VA – May 3, 2002) – John B. Levy & Company, Inc. is pleased to announce the preliminary first quarter results for the Giliberto-Levy Commercial Mortgage Performance Index. The preliminary estimate shows a –0.56% total return for institutional commercial mortgages in first quarter 2002. Return consisted of 1.83% income and a 2.39% price decline. This is reasonably similar to investment-grade bond performance where, according to Lehman Brothers, intermediate-term Baa-rated corporate bonds generated –0.66%.
The primary driver of performance was an increase in U.S.