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. In 2008, the City was ranked one of the top cities in the country to do business, higher than any other city in Virginia.
The transaction -- a $22,905,000 permanent loan with a 10-year fixed-rate term -- amortizes over 30 years.
John B. Levy & Company, Inc. is a real estate investment-banking firm headquartered in Richmond, Virginia. Since John Levy founded the company in 1995, the firm has structured over $3.5 billion in financing for developers and owners of commercial and multi-family projects nationwide, often investing its own proprietary funds into transactions with its clients. Mr. Levy is an expert on commercial real estate financing and the effects of interest rates on commercial real estate markets. He is the originator and author of the Barrons/John B. Levy & Company National Mortgage Survey, a monthly survey of more than 30 of the countrys largest institutional investors, as well as buyers and sellers of commercial mortgage-backed securities, which Barrons published for over 23 years. Mr. Levy is also co-creator of The Giliberto-Levy Commercial Mortgage Performance Index (sm), the first and pre-eminent index to measure and analyze the performance of investments in the commercial mortgage industry. Additionally, he is a member of the Board of Directors of Anthracite Capital Inc. (NYSE: AHR), a New York Stock Exchange REIT managed by BlackRock, Inc and a former director of Value Property Trust.
For more information about John B. Levy & Company, please visit the firms website at www.jblevyco.com or call John Levy at 804-644-2000, extension 237. You may also follow us on Twitter at http://twitter.com/jblevyco and join us on Facebook!