Richmond, VA, October 15, 2009 — Richmond-based John B. Levy & Company, Inc. is pleased to announce the completion of financing for the Haxall Building located in downtown Richmond, Virginia. The property is located just a short walk from the James River and the eastern continuation of the canal walk. The three buildings that comprise Haxall View were originally a cafeteria and part of the cigar manufacturing department of the Edgeworth Tobacco warehouse complex. Haxall is a 40,000+ square foot mixed-use project with loft apartments above retail shops.
Richmond, VA, September 15, 2009 — Richmond-based John B. Levy & Company, Inc. is pleased to announce the completion of financing for the University Heights Apartments located in Charlottesville, Virginia. The property is a 419-unit apartment complex located in Charlottesville, Virginia. The apartments are spread out over more than 15 acres in 37 different buildings. The City of Charlottesville is one of the few in the state with a triple-A Bond rating from both Moody’s and Standard & Poors national reporting agencies.
By Carol Hazard
Published: October 14, 2009
Housing prices have stabilized and sales are rising, but the commercial real estate market is still deteriorating locally and nationally, experts said yesterday at Virginia Commonwealth University’s 19th annual Real Estate Trends Conference.
Commercial real estate values nationally have dropped nearly 40 percent since peaking in October 2007 — and that figure could reach 50 percent,
ANDREW LITTLE TIMES-DISPATCH COLUMNIST
Published: October 12, 2009
Bob Seger in “Against the Wind” and, more recently, Toby Keith sang “I wish I didn’t know now what I didn’t know then,” expressing a desire to erase cumbersome knowledge and move on.
Many lenders are now stuck with that feeling as they want to originate new loans, but knowledge of the past 12 months just won’t let them.
Flow of Funds data recently released by the Federal Reserve support what most borrowers are experiencing.
By Veronica Chufo
10:59 PM EDT, October 15, 2009
Just as residential real estate is in the midst of a wrenching adjustment, so is commercial real estate.
Values have plummeted between 25 percent and 45 percent. Sales dropped 95 percent since 2007, John B. Levy said Thursday during a meeting of the Hampton Roads Association for Commercial Real Estate.
“This really isn’t going to be over in a year,” said Levy,