(WASHINGTON, DC, February 19, 2001) --- Commercial real estate investment firm John B. Levy has just completed arrangements for $11,700,000 in long term financing on behalf of an affiliate of DataCentersNow (DCN). The financing, arranged through Lend Lease Real Estate Investments, was secured by DCN’s 54,000 square foot CyberFortress™ I building located in Sterling, Loudoun County, Virginia.
“Many are closely watching the financing and development of data centers because this is a different type of investment property,” said John B. Levy, president of the firm arranging the financing. “A particularly attractive feature to our investor, Lend Lease, was the quality of construction and the excellent location of the building.”
Data centers must be designed to very precise standards. These facilities house the servers and other equipment integral to all Internet uses including online subscription services, Internet shopping, and web site hosting. CyberFortress™ I is located in the heart of Northern Virginia’s premier high tech community known as “Internet Alley” and is close to eight fiber optic providers. The building was designed for mission-critical uses and is constructed of fortified concrete and steel engineered to withstand 150 mph winds.
“We have worked with the Levy Company for many years and we will continue to do so because they understand developers needs regarding financing,” said Chris Epstein, president of DataCentersNow. “Some may be nervous about the health and viability of the high tech business but Levy knows this is the future and made a powerful case on our behalf to potential lenders.”
The property was financed with a permanent mortgage having a 10-year term amortizing over 20 years.
John B. Levy & Co. has a track record in arranging financing for single tenant deals in the high tech industry. Levy has previously secured funding for the Computer Learning Center and Northrup Grumman. CyberFortress™ I will be occupied by Infocrossing, Inc., a publicly traded company, which has executed a 15-year NNN lease with DataCentersNow. Infocrossing is a full-service provider of infrastructure, systems and network outsourcing solutions to large and medium-size businesses and is investing more than $10 million of its own capital into the project.
John B. Levy & Company, Inc. (JBL) is a real estate investment banking firm founded in 1995 and headquartered in Richmond, Virginia. JBL raises equity or debt for developers and owners of commercial and multi-family projects. Over the past five years, the firm has arranged and structured more than $750 million in such investments.
The offering was entirely marketed from the John B. Levy & Company, Inc. website located at https://www.jblevyco.com.