Richmond-based John B. Levy & Company, Inc. announced today the placement of $29,000,000 in long-term permanent financing on behalf of a Maryland-based real estate operating company that currently owns over 5.5 million square feet of office, medical office and retail space in the Washington, D.C./Baltimore areas. The five separate financings, totaling $29,000,000, were secured by three office buildings located in the Greater Washington, D.C. area. The properties were financed with permanent mortgages having a fixed-rate of 5.85% with a 7-year term and amortizing over 25 years.
John B. Levy & Company is familiar with this market and multi-building projects and has arranged financing for numerous other projects in Maryland in recent years. “The locations, the strength of the projects and the markets made the deal extremely attractive, and further demonstrates that well located and properly structured transactions are aggressively sought by lenders,” said John B. Levy.
John B. Levy & Company, Inc. is a real estate investment-banking firm headquartered in Richmond, Virginia. The firm has worked with both buyers and sellers of notes to assist each in achieving their goals. 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 Barron’s/John B. Levy & Company National Mortgage Survey, which Barron’s published for 23 years, and 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 former 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.
A seasoned speaker, Mr. Levy has presented nationwide to major real estate associations and key industry groups, including the Mortgage Bankers Association and the Urban Land Institute. He has also appeared on Bloomberg and CNBC. Most recently, Mr. Levy appeared as a guest commentator on FoxBusiness.com and FoxNews.com.
For more information about John B. Levy & Company, please visit our website at www.jblevyco.com or call Andrew Little at 804-644-2000, extension 260. You can also follow us on Twitter at www.twitter.com/jblevyco and become a fan on Facebook.