investment news Archive
2011
U.S. 'spring-loaded' for recovery
Oct 11, 2011The U.S. economy remains stuck but is ready to take off — if given the right signals, the keynote speaker said Tuesday at Virginia Commonwealth University's Real Estate Trends Conference. » read article
Va. banker: Fannie, Freddie to play reduced roles in apartments
Mar 22, 2011Plans to restructure Fannie Mae and Freddie Mac have sent shivers through the nation's home-building and home-finance industries.Owners and developers of apartment complexes also will feel the impact of any overhaul of the two government-owned lenders, a veteran mortgage banker said Monday.After playing a significant role in financing multifamily projects for decades, Fannie and Freddie will be shrinking, said John B. Levy, a Richmond-based mortgage banker for commercial and multifamily real estate. » read article
Forecast for how local CMBS loans will play out: hazy
Feb 16, 2011The delinquency rate for commercial real estate loans is climbing in Rich mond.That could mean more distressed property will hit the market this year as lenders get tougher on borrowers. And that, in turn, could mean a few more bargain-basement prices for investors willing to bet on a recovery.Delinquencies for CMBS loans in Richmond have risen to 6.78 percent from 4.56 percent at the beginning of last year. When BizSense first examined the local CMBS market in April 2009, the rate was just under 2 percent. » read article
2010
Slow going, says housing official
Oct 13, 2010The U.S. economy is healing, but the going will be slow for another year or two, speakers at yesterday's 20th annual Real Estate Trends Conference said. » read article
There is no question CMBS will be back
Oct 13, 2010Almost 1,000 real estate professionals from the Richmond region gathered Tuesday to hear the latest prognosis on their industry at the annual VCU Real Estate Trends Conference. » read article
Commercial Mortgages: Getting more money flowing to real-estate projects
Oct 11, 2010Many commercial real estate participants are ready for a change that narrows the gap between buyers and sellers and gets more money flowing to real estate projects.That change seems to be coming. Early indications of market activity suggest commercial real estate participants will be busier at the end of 2010 than they were at the end of the past few years. » read article
Location key to commercial real estate prices
Aug 9, 2010The good news is that commercial real estate lenders are voraciously competing for loans. The bad news is competition, like sales activity, is confined to about five cities in the country. Perhaps the LeBron James in this commercial real estate all-star game is Washington. As one lender put it, "the closer you are to the printing press, the better chance you'll have of getting some business." » read article
Strategy of Last Resort: To Default or Not To Default?
Jun 2, 2010CoStar's Newsletter recently highlighted Andy Little's podcast thoughts about whether or not developers should default on their troubled mortgages - the entire article can be downloaded here. » read article
Patterns beginning to emerge that make market seem orderly
Apr 12, 2010An uncertain economy and jobs market continue to make it difficult for investors to deploy capital with conviction, but a new kind of normalcy is creeping its way into the market. » read article
RBS to Sell Commercial Mortgage Debt, Ending Drought (Update2)
Apr 1, 2010Royal Bank of Scotland Group Plc is selling bonds backed by commercial mortgages from several borrowers in the first sale of its kind since June 2008, gauging investor demand for the debt amid climbing defaults. » read article
Optimism growing in commercial real estate industry
Mar 8, 2010Virtually everyone in commercial real estate these days will say things are better than they have been in some time.Though not altogether supported by the data, a positive outlook is spreading slowly but surely into the business. » read article
Commercial real estate lenders optimistic but cautious in 2010
Feb 15, 2010Commercial real estate lenders got the chance recently to talk about the coming year and reflect on the past year at the annual Mortgage Bankers Association Convention in Las Vegas.Most conversations about 2009 were dim and short-lived, but views for 2010 were decidedly optimistic. Money from Wall Street to Des Moines, Iowa, is stacking up and poised for investment. » read article
Comeback Kid: Commercial Real Estate
Feb 1, 2010John Levy was recently interviewed on FoxBusiness.com and discussed the current commercial real estate market. The show is hosted by Chris Cotter and Tracy Byrnes and streams live on FOXBusiness.com and FOXNews.com every weekday from 12-1pm ET. The interview may be viewed at http://video.foxbusiness.com/v/3992304/comeback-kid-commercial-real-estate/?playlist_id=87030 » read article
2009
Commercial real estate starving for credit
Dec 14, 2009Commercial real estate is starving for credit Smart money continues to pile up on the sidelines, anxious to take advantage of bargain-basement pricing for broken commercial real estate loans. » read article
Local commercial real estate steady
Oct 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, president of Richmond-based real estate investment banking firm John B. Levy & Co. "We won't measure this in quarters. It'll be years."But financing is hard to come by. » read article
Extend and Pretend, or Delay and Pray?
Sep 16, 2009John Levy was recently interviewed on FoxBusiness.com and discussed the current commercial real estate market. The show streams live on FOXBusiness.com and FOXNews.com every weekday from 12-1pm ET. The interview may be viewed at http://video.foxbusiness.com/#/9664608/commercial-real-estate-the-next-bubble/?category_id=66a5467c2a3e8419020c0e75647cd4379543f11d in case you weren’t able to watch the live feed. We welcome any questions or comments. » read article
The Next Real-Estate Shoe to Drop?
Jun 12, 2009John Levy was recently interviewed on FoxBusiness.com and discussed the current commercial real estate market. The show is hosted by Connell McShane and Jenna Lee (they also host the morning show on the channel) and streams live on FOXBusiness.com and FOXNews.com every weekday from 12-1pm ET. The interview may be viewed at http://www.foxbusiness.com/search-results/m/22478042/the-next-real-estate-shoe-to-drop.htm in case you weren’t able to watch the live feed. » read article
Sound Bites from the ICSC Convention Floor
May 20, 2009Thousands of retail and shopping center executives descended on the Las Vegas Convention Center over the past few days as part of an annual rite of passage as they attended the Global Retail Real Estate Convention. The crowds were much thinner than in past years as most companies in the throes of a deep recession dispatched only their top decision-makers to this oasis in the desert. Whether they were commiserating about the weak economy or engrossed in deal making, attendees had no shortage of hot-button issues to discuss. What follows is a sampling of their insights about the state of the industry: » read article
Commercial real estate rebound lags behind other indicators
May 13, 2009It isn't clear if Wynonna Judd was singing about commercial real estate in her hit "Rock Bottom" from a few years back.But the lyrics "rock bottom is good solid ground" most certainly applies to the industry to day. The economy seems to be bumping along at what many are calling the bottom, where the lack of more negative news is good news, and a few bright notes give hope there is light at the end of the tunnel. » read article
A Conversation with John Levy
Jan 9, 2009The current credit crisis has significantly crimped the flow of capital available to real estate investors. Getting a deal financed has become much more challenging due to the lack of funds as well as stricter underwriting standards. Larry Gray, editorial director of Institutional Real Estate, Inc., spoke with John Levy, president of Richmond, Va.–based real estate investment banking firm John B. Levy & Co., to get his take on the current capital market environment. » read article
2008
For this market, help hasn’t quite arrived yet
Dec 8, 2008According to a recent UBS report, the Fed has taken 72 actions since August 2007 to blunt the impact of the faltering economy, and that count excludes interest rate moves. So the Fed, which usually focuses only on changing interest rates, has taken action about once a week since the third quarter of 2007 -- that by definition is unusual. » read article
Paralyzed CMBS Market Wiggles a Toe
Mar 20, 2008A $1.2 billion commercial mortgage-backed securities (CMBS) offering typically doesn't merit major headlines, but this year's bond market is atypical. Consider that in January there was zero CMBS issuance on Wall Street, the first time that's ever occurred in the 20-year history of the market. So when the offering by Morgan Stanley and Bear Stearns sold on Feb. 13, the issue broke a disturbing silence and underscored how bond buyers today are demanding higher yields for perceived higher risks. » read article
Lennar's New Homes Fetch 60% Less as U.S. Market Slump Deepens
Jan 11, 2008Lennar Corp.'s November sale of 11,000 properties in eight states set a price that may mark the bottom for the U.S. housing market: 40 cents on the dollar. » read article
Filling the Conduit Void
Jan 10, 2008Commercial real estate lenders have tended to view the multifamily sector as the safest long-term bet among the various income-property categories. Many have been willing to quote to apartment investors and developers somewhat narrower interest-rate spreads over corresponding index benchmarks, resulting in more borrower-friendly “coupon” mortgage rates than those in office, retail, and other sectors. » read article
CMBS Market Back in 'Real Time'
Jan 10, 2008Tightening underwriting—falling loan-to-value levels and higher debt service coverage ratios—combined with increases in subordination levels, will likely take the commercial mortgage-backed securities market back to its halcyon days of 2004, post-recession and pre-liquidity crisis. » read article
2007
Deadbeat Developers Signaled by Property Derivatives (Update2)
Nov 28, 2007In the bond market, commercial property investors are about as creditworthy as U.S. homeowners with subprime mortgages. » read article
Lenders take hard look at risks for new loans
Oct 8, 2007After a pressure-packed few months in the credit markets, things are starting to simmer down.The systems that allow commercial mortgages to flourish are back in motion, and loan activity has picked up significantly from August and September. By no means does the current market remotely compare with the frothy days of March of this year, but all things considered, it could be a lot worse. » read article
John B. Levy: Don't Wait to Borrow
Oct 1, 2007John B. Levy sees a familiar pattern emerging as the credit crunch unfolds, and it tells him that spiking mortgage rates may be just around the corner for commercial real estate. That's precisely what happened following a global crisis in the bond markets in 1998, says the principal of real estate investment banking firm John B. Levy & Co., and a former longtime columnist for NREI. » read article
Borrowers feel the pain as markets reassess risk
Aug 20, 2007There is a scene in "Monty Python's Meaning of Life" where a rotund man eats the entire menu at a restaurant and, predictably, can't keep it down."Bring me a bucket," he says, then proceeds to purge. As if that weren't enough, the waiter offers him a wafer; he indulges a little more and then literally explodes. » read article
Wave of smaller lenders taking advantage of rules
Mar 7, 2007As Joe Walsh sang "life's been good to me so far" to a packed crowd at the House of Blues in downtown San Diego last week, his words rang true to the swaying sea of suits. » read article
Toll, Centex, Lennar Join `Moron' Speculators in Land Grab Bust
Feb 7, 2007Brian Tuttle owns so much land that he paid $3.6 million to get rid of 125 acres ready for development in the middle of Florida's Palm Beach County.``In 2005, I was a brain surgeon, and in 2006, I was a moron,'' said Tuttle, who walked away from his deposit on the and rather than lose even more money buying it and building homes on it. ``The only good news is that I'm not alone.'' » read article
2006
Barron's/John B. Levy & Co. National Mortgage Survey
Apr 3, 2006THE DOLLAR VOLUME OF MORTGAGES on commercial real estate hit the public marketplace at a record level in March, according to the Barron's/John B. Levy & Co. National Mortgage Survey. The market for commercial-mortgage-backed securities absorbed some $29 billion, compared with the previous record of a shade under $23 billion set in January 2005. » read article
Explosive growth in public- and private-sector jobs buoys D.C.’s retail real estate market
Mar 24, 2006Metro Washington, D.C., usually associated with government, museums and monuments, has seen a recent explosion of retail development and sales — and the reverberations continue. The retail market in the district, northern Virginia and much of Maryland (almost to Baltimore) is becoming one of the hottest in the U.S. » read article
2005 was a record year, and 2006 looks good, too
Jan 9, 2006Helped by more than $9 billion in commercial mortgage-backed securities, or CMBS, issued during the final two weeks of December, commercial mortgages were funded in record numbers in 2005. CMBS issuance volume exceeded $169 billion during 2005 to set a record, and market observers are already indicating that the CMBS train should continue rolling in 2006. » read article
2005
Holliday Fenoglio, GMAC Unit Both On the Block
Sep 14, 2005DALLAS-Though the principals behind the plays aren't talking, GlobeSt.com has confirmed Holliday Fenoglio Fowler LP is being shopped to the capital markets by Goldman Sachs Group Inc., which has its own unrelated high-powered deal in motion to take over GMAC's commercial mortgage group. Just like the buildings they sell, the industry's facilitators have become hot properties. "If you're going to get a good price, this is the time to sell," Raymond G. Torto, principal and chief strategist for the Boston-based Torto Wheaton Research, tells GlobeSt.com. "It's a good time to be selling such a company." » read article
Katrina will expose outer limits of insurance policies
Sep 12, 2005The full toll of Hurricane Katrina will take months and probably years to understand and translate into new policies and disaster-recovery plans. As with most major catastrophes, Hurricane Katrina helped point out a number of weaknesses across many different social, cultural and economic systems. » read article
Financing Closes for Flex Acquisition
Aug 9, 2005ASHBURN, VA-A joint venture involving Minshall Stewart Properties and an unnamed Philadelphia institutional real estate fund has won financing in the sum of $11.4 million toward its $12.5-million acquisition of the 124,700-sf, two-building flex/industrial park. The sites are located at 21330 and 21580 Beaumeade Circle. » read article
Rumors stir of high-rise in Norfolk's downtown
Jul 9, 2005NORFOLK - Dominion Tower is nearly full. So is 150 W. Main. And the movement of banks has leased several other large commercial real estate structures downtown. » read article
Investors keep pouring in money, including locally
May 23, 2005Like Pedro Martinez brushing back a batter to establish the inside of home plate, investors in commercial mortgage-backed securities pushed back slightly on the latest offering from Wachovia Bank, forcing wider pricing and innovation on its $1.4 billion securitization. According to investors, the problem with the Wachovia offering was too much leverage and too many loans with a period of interest-only payments. » read article
Buyers Get Leverage Jitters
May 9, 2005OK, SO MAYBE TREES -- or its real estate equivalent, leverage -- don't grow to the sky. But for a while there, it sure looked to the commercial real-estate gang like leverage had no natural limits, according to the Barron's/John B. Levy & Co. National Mortgage Survey. Last week, buyers finally said enough, causing bankers and traders to sit up and take notice. » read article
CMBS Issuance in U.S. Breaks Another Record
May 1, 2005Staggering volume, higher Treasury yields and bad news from Ford Motor Co. and General Motors didn't cause the wheels to fall off the commercial mortgage bus, but it certainly loosened a lug nut or two. First-quarter volume, normally a fairly quiet period, hit an astounding level of almost $33 billion, the largest domestic quarterly volume ever, according to the Barron's/John B. Levy & Co. National Mortgage Survey. » read article
March may set another record for CMBS issuance
Mar 14, 2005Commercial real estate debt is cheap; it's just not quite as cheap as last month. Five- and 10-year interest rates sprang higher in recent weeks and now range from 5.20 percent to 5.60 percent, according to the Barron's/John B. Levy & Co. National Mortgage Survey. » read article
2004
Market's undulations make a topsy-turvy ride
Dec 13, 2004For those who closely watch the commercial mortgage market's undulations, the past few weeks have been a topsy-turvy ride. Before the release of November jobs data, most market participants were betting on rates soaring. » read article
Market Leader Profile
Dec 2, 2004John B. Levy is a nationally recognized expert in commercial real estate. His commentary and national mortgage survey — a monthly survey of more than 30 of the country’s largest institutional investors and buyers and sellers of commercial mortgage-backed securities — has been published monthly in Barron’s since 1983. » read article
Real estate analyst sees 'lava flow' of area activity
Oct 11, 2004The Greater Richmond Convention Center was put to good use last week as Virginia Commonwealth University held the 14th annual VCU Real Estate Trends Conference. About 625 registrants filled Ballrooms 21B and 21C of the new convention center, and the program went off in solid form. The first speaker, Susan Hudson-Wilson, the founder and CEO of Property & Portfolio Research Inc. based in Boston, set the tone. » read article
Employment figures can have an effect on rates
Sep 13, 2004The commercial mortgage market has remained frothy over the past month. That means lenders are still aggressively trying to place money in real estate. As one lender puts it, "there's a dogfight for every deal." » read article
COMMERCIAL MORTGAGES: Coming 'storm' may affect cash flow, property values
Jun 28, 2004Real Estate Research Corp. aptly titled its first-quarter research report "Bracing for the Storm." Chicago-based RERC, a frequent contributor at the annual VCU Real Estate Trends Conference, says the "storm" is rising interest rates. It warned real estate owners to brace for the effect higher rates will have on cash flows and values. RERC predicts that, with the economic recovery strenghtening and significant job growth under way, "it is likely that the federal-funds rate will be increased sooner rather than later and interest rates will start inching upward, which in turn will put property values at risk." » read article
Rates giving borrowers bit of excess stomach acid
May 24, 2004Antacids must have been flying off the shelves in recent weeks. The stomach discomfort wasn't caused by fewer people getting jobs in April than in March. In fact, the opposite was true. April jobs data, released this month, was quite good, showing that the economy is putting more people to work than expected. But that good news has led to a turbulent uphill ride for commercial-mortgage rates, producing a bit of excess stomach acid for borrowers. » read article
Lenders remain hungry for new real-estate deals
Apr 26, 2004Thanks to March jobs data indicating an almost unbelievable turnaround in job creation, commercial mortgage rates are roaring higher. On top of the jobs report, which was released earlier this month, several consumer price and retail sales indicators have shown signs of inflation. » read article
A Borrower's Market
Apr 5, 2004Known as the hand-to-hand combat of the financial world, competition in making new mortgage loans on commercial properties is so intense that lenders might consider hiring Navy SEALs as originators. » read article
Catching their interest
Mar 15, 2004When Leslie Ludwig starting shopping around to finance her company's next office project, she had no idea she'd get such an enthusiastic response from Washington-area banks. After letting eight real estate bankers know The JBG Cos. was looking for money to develop a new office building, she received seven offers. The building wasn't even pre-leased. » read article
Downward trend in rates can contribute to volatility
Mar 15, 2004The news came as a bit of a shock to economists. Jobs data released for February continued to show that, despite no change in the national unemployment rate, the economy is not adding jobs as quickly as projected. » read article
CMBS Feeding Frenzy Continues
Mar 1, 2004The commercial mortgage market stayed hot in January as spreads over comparable Treasuries plunged to incredibly low levels, according to the Barron's/John B. Levy & Co. National Mortgage Survey. As one major buyer of commercial mortgage-backed securities remarked: “There's a feeding frenzy for each new deal, and there were three in January alone, normally an abysmally slow month.” Market observers say February could set a record for CMBS offerings; 13 deals totaling $15 billion were scheduled. » read article
Investors hope real estate is able to avoid downturn
Feb 16, 2004January turned out to be a very active month for commercial real-estate finance. Fears about overbuilt, underoccupied, overleveraged and overpriced markets have given way to jubilation on the part of many investors who hope real estate will avoid a downturn. » read article
2003
Rates rise as investor sentiment turns positive
Nov 17, 2003On the first of October, the yield on the 10-year Treasury note stood at about 3.95 percent. A little more than a month later, the yield on the 10-year Treasury now ranges from 4.40 percent to 4.45 percent, or 45 to 50 basis points higher. » read article
The Changing Paradigm in Commercial Real Estate
Oct 28, 2003Despite unprecedented declines in commercial real estate (CRE) fundamentals, the nation's insured institutions have weathered the storm of the recent downturn with remarkably strong performance in their CRE portfolios. The rapid growth of public ownership of CRE loans through commercial mortgage backed securities (CMBS) is a significant change that has influenced CRE performance since the last cycle. » read article
'Small' investment has significance for industry
Oct 13, 2003Despite national reports pointing to continued weakness in major commercial real estate markets and the persistent talk of a jobless recovery, interest in commercial real estate and commercial mortgages is riding high. » read article
Market Surprise
Oct 6, 2003THE MARKET FOR SECURITIES backed by commercial mortgages has begun to resemble that old Four Tops standard "It's the Same Old Song." Invariably, spreads between the securities' yields and those on interest-rate swaps widen in anticipation of new issuance and fall in the aftermath. According to the Barron's/John B. Levy & Co. National Mortgage Survey, spreads on long-maturity, triple-A securities began the month in the area of swaps plus 40 basis points, or four-tenths of a percentage point, and by the end of September they had fallen off a cliff to 33 basis points over swaps. » read article
Sweet September
Oct 1, 2003The commercial mortgage-backed securities market was in a hyperactive mode to close out the third quarter. Some $8 billion to $9 billion in domestic issues were planned for September alone, according to the Barron's/John B. Levy & Co. National Mortgage Survey. The market was poised to post its most active third-quarter ever — one in which about $12 billion in new deals would be completed, easily surpassing the record of slightly more than $10 billion set in 1998. » read article
MBA Members Head FDIC Roundtable on CMBS Market
Sep 18, 2003MBA staff joined bankers, real estate industry representatives and regulators gathered in Washington, D.C., on September 12 to assess the state of the real estate capital markets at the Federal Deposit Insurance Corp.’s Commercial Real Estate Roundtable. The event, which attracted more than 120 real estate professionals, was hosted by Richard Brown, chief economist of the FDIC. » read article
September again shows difficulty of predicting rates
Sep 15, 2003Predicting the direction of commercial mortgage rates is a bit like judging the direction of airflow inside a car where all the windows are randomly going up and down. » read article
New Richmond Fund Targets Real Estate
Jul 23, 2003Got a battered stock portfolio? Local real estate financier John B. Levy may have just the prescription — if you are willing to shell out at least $200,000. » read article
Real-estate fund suits seasoned investors only
Jul 21, 2003Leery or novice investors can skip this column. It's about a new fund starting in Richmond for seasoned investors who want to play the real-estate game without the responsibilities of management. » read article
Commercial rates don't follow Fed's lead
Jul 14, 2003If Alan Greenspan intended to increase the average rate on commercial mortgages by over 0.60 percantage points with the Federal Reserve's latest cut, he could not have done a better job. » read article
$21M in Financing Facilitates Estates at Horsepen's Race to Completion
Jun 9, 2003Development of The Estates at Horsepen has taken a positive leap forward with the recent placement of $21 million in financing for the project. John B. Levy & Co. arranged for the funding from a prominent pension fund on behalf of property developer New Apartments LLC. » read article
Money continues to pour into real estate properties
May 12, 2003Although reading the latest economic data has become a bit like examining tea leaves, money continues to flow into almost all things related to real estate. » read article
Capital Flows
Apr 24, 2003Last year was a banner year for all things related to real estate finance. Long-term interest rates were at the lowest level since the Eisenhower Administration. Short-term rates spent most of the year below the spreads offered on conduit loans back in 1994. And loan volume was solid, with delinquencies remaining close to nonexistent. » read article
Fortunes of war had effect on interest rates
Apr 14, 2003Acting like strung out gamblers at the horse track scrambling to the betting window before post time, borrowers piled on commercial-mortgage debt during the first quarter of 2003. Essentially betting that rates are moving upward, they were trying to slide transactions in before the low-rate window closes. » read article
Retail Property Financing Flourishes Despite War Climate
Apr 4, 2003Economic uncertainties fueled by Operation Iraqi Freedom have not dented investor interest in real estate, as is evidenced by activities of real estate investment banking concern John B. Levy & Co. » read article
D. C. Area Economy in a Holding Pattern
Mar 24, 2003Late last week, while troops sped across the Iraqi desert, the Labor Department issued revised data that show the Washington area had a net gain of 9,000 jobs in 2002, contrary to earlier estimates of big job losses and shrinking employment almost everywhere else in the country. » read article
World, corporate travails prompt purchase of debt
Mar 10, 2003The continual pounding of the drums of war and a spate of weak economic news have weighed heavily on economic markets. These forces, however, have had the indirect result of lowering rates for commercial mortgage seekers. » read article
National lending trends could help local projects
Feb 17, 2003Despite looming international crises, which tend to make global financial markets unstable, commercial-mortgage rates continued their hold pattern during the past month and now average 4.95 to 5.75 percent for 5- and 10-year mortgages. » read article
Real estate market includes the best and worst of times
Jan 20, 2003Richmond commercial real estate in 2002 could be the subject of "A Tale of Two Brokers." Admittedly, the book would be exceedingly boring, but the first chapter could start with "It was the best of times; it was the worst of times." » read article
For Urban Developers, A Hard Row to Hoe: Bethesda Row Is a Hit, but Many Builders Say That For the Effort Required, They'll Stick With Strip Malls
Jan 13, 2003On a cold weekday evening late last year, Sarah Thomas meandered down a bustling brick sidewalk in Bethesda -- daughter Carrita and black Labrador Licki in tow -- that evoked an early 20th-century Main Street, with a crowded mix of stores, restaurants and offices. » read article
2002
Conditions are declining but money keeps coming
Dec 16, 2002"De-coupling" is a word that has been used to describe the uncomfortable relationship that currently exists between real estate fundamentals and real estate investment. » read article
Real estate investments still seen as a haven
Nov 18, 2002After almost 11 months of inaction on interest rates, the Federal Reserve scraped the rust off its ax two weeks ago and chopped the discount rate by half a percentage point. » read article
$15M in Financing Set for Park Crescent Apartments
Nov 14, 2002Long-term permanent financing to the tune of $15 million has been put in place for Park Crescent Apartments here, courtesy of real estate investment banking firm John B. Levy & Co. Inc. » read article
Coalition Turns to Advertising for Terrorism Insurance Legislation
Nov 12, 2002The Coalition to Insure Against Terrorism has turned to advertising in its latest effort to urge members of the US Senate and House of Representatives to pass terrorism insurance legislation immediately. » read article
Developers Find Ways to Get Around Insurance Shortage
Nov 11, 2002Earlier this year, John B. Levy was trying to arrange financing for a big office building in New Carrollton, one close enough to Internal Revenue Service offices that it might well be a victim of collateral damage in a terrorist attack on the perennially unpopular tax agency. » read article
FORMER NOMURA BANKER PENNER MAPPING THIRD REAL ESTATE COMEBACK
Oct 15, 2002Ethan Penner, the former head of mortgage finance at Nomura Securities International Inc. and once among Wall Street's highest paid executives, is planning his next act. » read article
Each month seems to bring record-breaking low rate
Oct 7, 2002Like the ants in the kid's song "The Ants Go Marching," commercial mortgage rates are marching down, into the ground, to get out of the storm. » read article
Bush Tells Congress to Move Quickly on Terrorism Insurance
Oct 2, 2002President Bush urged Congressional leaders today to resolve their differences by the end of the week and adopt legislation to protect the insurance industry from losses from future terrorist attacks. » read article
Ratings of Building Loans Fall on Insurance Worries
Sep 28, 2002A leading credit rating agency said late yesterday that it had downgraded the ratings on $4.5 billion in loans on some of the most prominent office buildings in New York City because the buildings were not adequately insured against terrorism. » read article
$10M Loan for Canal Property Redevelopment
Sep 18, 2002Real estate investment banking firm John B. Levy & Company Inc. has finalized a $10 million financing package for the total renovation of the historic structure at 15th and Dock streets. » read article
Distressed US real estate deals have yet to take off
Sep 17, 2002Opportunistic investors have been waiting months for the economic downturn to spark fire sales in the real estate industry. But despite double-digit vacancy rates and sharply reduced rents, distress deals have been few and far between. » read article
How 'How low can you go?' is mortgage-rate mantra
Sep 9, 2002The last time the yield on the 10-year U.S. Treasury was this low was 1963 and Chubby Checker had a chart-topping hit called "Limbo Rock." As in the song, many analysts, bankers and borrowers are singing, "How low can you go!" » read article
As Economy Stalled, Firms Revamped To Stay Afloat
Sep 9, 2002On Sept. 10, 2001, the local economy was on a precipice, at the line between not too bad and a full-fledged downturn. On Sept. 11, the region became unquestionably enmeshed in the latter. » read article
CSC Building Secures $43M in Financing
Aug 29, 2002The new 325,000-sf building at 7900 Harkins Road in Prince George's County gets financing in the form of a $43-million permanent mortgage package structured by Richmond, VA-based real estate investment-banking firm John B. Levy & Co. Inc. » read article
Borrowers get white-knuckle ride despite falling interest rates on loans
Aug 12, 2002Borrowers who tried to close loans in the past month were met with something similar to the story about cheaper hamburger meat that was for sale down the street but unfortunately no longer available. » read article
Looking for insurance with Uncle Sam
Jul 23, 2002New York City is debating rebuilding the World Trade Center, and you will end up helping to pay for it, even if you don't like the new design - or don't think the complex should be rebuilt. » read article
Former whipping boys now wearing white hats
Jul 8, 2002Corporate-style mea culpa has put the stock market in a tailspin and, ironically, continued to buoy real estate. » read article
<b>Partial protection</b>: Commercial property owners are getting terrorism insurance post-9/11. It's just not enough.
Jun 26, 2002Congress may yet push through a lesgislative package of federal terrorism insurance, but many commercial real estate owners aren't waiting for a government bailout. » read article
Treasury yield, eased pricing affect mortgages
May 13, 2002The past month has been a good one for commercial mortgage rates for two reasons. First because the yield on the U.S. Treasury has remained rela tively stable and, second, because lenders' pricing eased by 10 to 15 basis points (0.10 to 0.15 percentage points). » read article
Lack of terrorism insurance blamed for stalled projects
Apr 15, 2002The issue of terrorism insurance continues to cause strife in the commercial mortgage arena. Large loan lenders have been clamoring for the federal govern ment to act as a terrorism insurance stopgap for more than six months with no apparent results. » read article
Bush Pushes Bill to Protect Insurers from Terrorism Losses
Apr 9, 2002Attributing a sharp decline in the nation's construction projects to a lack of insurance, President Bush tried today to revive stalled legislation that would protect insurers from losses from terrorist attacks. In remarks to a group of business executives and labor leaders, Mr. Bush urged Congress to adopt a measure to counter the insurance problem caused by last September's terrorist attacks. He said the problem was contributing to unemployment and limiting economic growth. » read article
Bush Comes to Shove for Terrorism Insurance
Apr 8, 2002President George W. Bush will join a star-studded cast of visiting corporate executives on Monday to urge the Senate to pass legislation authorizing the federal government to provide terrorism insurance to the commercial real-estate industry. » read article
MOVING TOWARD CLARITY ON TERROR COVERAGE ISSUE
Mar 12, 2002With the economy in recession, it has been hard to identify real estate projects might have been delayed solely because of a lack of terrorism insurance. » read article
Capital Seeking Investors Seek Stability
Mar 11, 2002The good news for developers seeking funds for larger real estate projects is that there is more money out there than ever. The bad news is that with the economy, there are fewer good projects around. » read article
Moody's To Weigh Terror Risk: Bond Ratings Could Hinge on Insurance
Mar 2, 2002Moody's Investors Service is changing the way it rates real estate debt to factor in whether a property has terrorism insurance and it may ultimately downgrade bonds for buildings without coverage, a move that could increase borrowing costs and make it difficult to raise money for new projects. » read article
Market remains subdued despite corporate volatility
Feb 18, 2002The commercial mortgage market has been relatively calm during the past six weeks. Rates have compressed modestly to their current level of 6.5 percent to 7.25 percent for five and 10-year loans, according to the Barron's/ John B. Levy & Co. National Mortgage Survey. » read article
Winn-Dixie Withholding Rent of Closed Stores: Report
Jan 15, 2002John B. Levy, a commercial mortgage banker based in Richmond, VA., told SN he has spoken to several Winn-Dixie landlords in three Southeastern states who said the company has stopped rental payments at approximately 50 locations, most of which are in strip shopping centers and all of which have been previously closed. » read article
Despite its months of volatility, 2001 ends near where it began
Jan 14, 2002Commercial mortgage rates moved upward during December, according to the Barron's/John B. Levy & Co. National Mortgage Survey, but continue to be very attractive at 6.70 percent to 7.38 percent for 5and 10-year loans. » read article
2001
Commercial Real Estate Market Seen Staying Soft
Dec 17, 2001The dot-com implosion, months of layoffs, and a general slowdown in corporate spending have caused office vacancy rates to skyrocket, and demand for new space has plummeted. And because business and pleasure travel was down even before Sept. 11, few lenders or developers are willing to go anywhere near a hotel project. » read article
Economic news developments prompt fluctuating interest rates
Dec 10, 2001The commercial mortgage business has been on a tear lately, according to the Barron's/John B. Levy & Co. National Mortgage Survey, as borrowers scramble to lock in incredibly low rates, now ranging from 6.37 to 7 percent for 5- and 10-year loans. » read article
Hotel Owners Paying Higher Rates To Change Loan Terms
Dec 3, 2001Like FelCor Lodging, Hilton Hotels Corp., Host Marriott Corp. and Wyndham International Inc. are among those seeking easier debt- ratio rules and other concessions from lenders as vacancies rise and room rates drop amid the decline in travel. » read article
$33 million financing deal completed in New Carrollton
Nov 19, 2001The developer of a 12-story office building in New Carrollton near the Internal Revenue Service headquarters has completed a $33 million financing deal. John B. Levy & Co. Inc. of Richmond will finance the project, a 325,000-square foot building being constructed by an affiliate of real estate firm Beco Management. » read article
Metro Business
Nov 12, 2001Commercial real estate lenders gained pricing guidance recently as new commercial mortgage-backed securities traded for the first time since Sept. 11, according to the Barron's/John B. Levy Co. National Mortgage Survey. » read article
General Growth Properties to Refinance $2.5 Bln of Mall Debt
Oct 30, 2001General Growth Properties Inc. plans to refinance $2.55 billion of debt, the largest such transaction in the real estate business, to take advantage of low interest rates, boost earnings and gain cash for new investments. » read article
Marriott, Starwood, Accor Delay Hotels; Demand Falls
Oct 11, 2001If you can get a construction loan for a hotel today, good luck,'' said John Levy, head of real estate investment banking firm John B. Levy & Co. He said hotel companies may pay 75 to 100 basis points more after the attacks to borrow for development, assuming they can find a lender. ``This will certainly put the kibosh on anyone who wants to build a new hotel.'' » read article
Public Radio International's Marketplace Morning Edition
Oct 10, 2001As politicians focus on terrorism, New Yorkers and commercial real estate developers are focused on how to rebuild Manhattan's financial district. John Levy runs a real estate investment bank. » read article
Commercial Mortgage Market Cautious After Terrorist Attacks
Oct 8, 2001Real estate investors saw Sept. 11 as the beginning of an "instant recession" with the effects on commercial real estate yet to be determined, according to the Barron's/John B. Levy & Co. National Mortgage Survey. » read article
Somewhat surprisingly, commercial mortgage lending is staying active
Sep 10, 2001Seemingly at odds with the slowing economy, commercial mortgages continue to show surprising strength, both in high volume and low delinquencies. » read article
Borrowers eye mezzanine loans; Funding tool gains ground
Sep 1, 2001Mezzanine financing is gaining acceptance as a funding tool for shopping center developers, according to industry executives. » read article
Rise in commercial loan defaults may indicate worst is yet to come
Aug 6, 2001Commercial interest rates have barely changed from last month, according to the Barron's/John B. Levy & Co. National Mortgage Survey. » read article
Mortgage losses hit 20% in quarter
Aug 5, 2001Commercial mortgage losses rose 20 percent in the second-quarter and are expected to grow as . . . » read article
OFFICE VACANCY BLUES
Aug 5, 2001Locally, Richmond is feeling the pinch of double-digit vacancies for the first time since the early 1990s. » read article
Garrison Launching New Fund To Invest in Seasoned CMBS
Aug 1, 2001The $72 million trust was mainly invested in hard assets as well as a CMBS in May, according to Frank Garrison, executive managing director of Insignia Financial Group & president of Insignia Financial Services. He looks for seasoned, below investment-grade CMBS as opposed to new issues, as well as securities backed by assets for which Insignia knows the borrowers. » read article
Losses on Commercial Mortgages Inch Up . . .
Jul 30, 2001Credit losses on long-term commercial mortgage ticked up in the second quarter. . . » read article
NPR - Marketplace Morning Report
Jul 30, 2001National Public Radio, Marketplace Morning Edition: report on the Giliberto-Levy Commercial Mortgage Performance Index. » read article
Finance panel sees potential bumps in road
Jul 1, 2001Although cooling off, the U.S. economy is still kicking, thanks in part to unflagging consumer confidence. » read article
Richmond Times-Dispatch Profiles John B. Levy & Company
Jun 26, 2001"Local real estate investment banker keeps the 'people aspect' in mind..." » read article
Lenders hunker down as evidence of weak economy starts to spread
Jun 11, 2001Commercial mortgage spreads eased lower in May - on the order of 0.05 percent to 0.1 percent over benchmark rates according to the Barron's/John B. Levy & Co. National Mortgage Survey. » read article
Mortgage Brief
May 14, 2001John B. Levy & Company, Richmond, VA., will secure $42 million in construction and permanent financing for a new 325,000-square foot facility for the Computer Sciences Corp. » read article
MetroView lures CSC
May 11, 2001Computer Sciences Corp. has preleased a 325,000-square-foot office building across from the IRS headquarters in New Carrollton. . . » read article
Positive economic news pushes commercial mortgage rates upward
May 7, 2001The mood among commercial mortgage lenders improved last month in response to the Federal Reserve’s mid-April surprise rate reduction. » read article
Financing Game: Baltimore Business Journal
May 4, 2001Developers find investors wary of even the hottest deals » read article
COMMERCIAL PROPERTY NEWS: CMBS UPDATE
May 1, 2001Three years after shuttering its real estate lending practice, Nomura took advantage of the merger of Donaldson, Lufkin & Jenrette and Credit Suisse First Boston to hire six executives from DLJ to start up a new securitization practice. Plans are to follow that with an origination team. » read article
CMBS Market Awaits FASB 140 Decision
Apr 24, 2001CMBS observers were disappointed to learn last week that the Financial Accounting Standards Board did not review the portion of its newly implemented Statement 140 . . . » read article
Economic concerns likely fueling recent upward movement in rates
Apr 9, 2001Commercial mortgage rates inched higher last month, but remain enticingly low - ranging from 7.29 percent to 7.39 percent for prime 10-year commercial mortgages. » read article
Precept Analyzes Commercial Mortgage Risk Before Online Auction
Mar 27, 2001Precept, an online commercial mortgage auctioneer, may succeed where rivals failed by offering a full risk analysis of the loans it sells. » read article
Financing announced
Mar 12, 2001Richmond, Virginia (March 12, 2001): John B. Levy & Co. of Richmond has placed $120 million in long-term permanent financing on behalf of Rockville, MD.-based BRIT Limited Partnership. » read article
S&P Reports CMBS Delinquency Rate Uptick
Mar 2, 2001S&P Reports CMBS Delinquency Rate Uptick » read article
Financing announced
Feb 18, 2001Richmond, VA (February 18, 2001)-- Richmond-based John B. Levy & Company, a real estate investment banking firm, announced Wednesday that it has been exclusively retained to arrange $13.5 million ... » read article
Northern Virginia Data Center Gets Long-term Financing
Feb 13, 2001Commercial real estate investment firm John B. Levy & Co. has just finished arrangements for $11.7 million in long-term financing on behalf of an affiliate of DataCentersNow. » read article
Mortgages Posted 14% Gain in 2000
Feb 5, 2001Bolstered by a strong fourth quarter, commercial mortgages posted a whopping 14.4% return last year -- the highest since 1995. » read article
Financing today: Strong finish yields optimism
Feb 1, 2001The commercial mortgage industry polished off 2000 in remarkably strong style, according to the Barron's/John B. Levy & Co. National Mortgage Survey of more than 30 participants in the whole-loan and CMBS markets. » read article
Loan Delinquencies Reach Record Lows
Feb 1, 2001Commercial real estate loan delinquencies and the costs associated with them are at record lows. According to John Levy, president of real estate investment banking firm John B. Levy & Company, . . . » read article
Leaders Predict the Future
Feb 1, 2001Excerpt from the 2001 Thalhimer Report, Leaders Predict the Future. » read article
Revising the Horizon
Jan 2, 2001Weaker retail and worries about Capital One cloud the 2001 forecast » read article
After the shake-out: Conduit lenders still targeting apartments
Jan 2, 2001To paraphrase Mark Twain, reports of the death of the commercial mortgage-backed securities industry may have been greatly exaggerated. Apartment loans are an important reason why. » read article
CRE Delinquency Costs Fall to New Low
Jan 2, 2001The delinquency costs associated with the major commercial property types hit the lowest level for the past 35 years in the third quarter, according to the Giliberto-Levy Monitor, a quarterly publication. » read article
Can Capital Markets Rise Above 'Soft Landing'?
Jan 1, 2001Uneasy times, consolidation take their toll on financial marketplace, but some players seize the day. » read article
2000
SunAmerica to Fund Big Office Loan
Dec 18, 2000SunAmerica Life has agreed to provide $120 million of long-term financing on a portfolio of Washington-area office buildings. » read article
Experts Expect to See Lower Volume of CMBS Next Year
Dec 15, 2000Participants in the commercial mortgage-backed securities market expect issuance of the securities to edge up next year, possibly aided by lower interest rates. » read article
Commercial Delinquencies Reach an All-Time Low
Dec 11, 2000A strong economy and explosive growth in commercial real estate markets were a good mix in driving commercial mortgage delinquencies to an all-time low. » read article
Commercial Delinquency Costs Hit Record Low; Raises Questions About Next Year
Nov 29, 2000» read article
Delinquency costs hit lowest in 35 years
Nov 17, 2000Commercial mortgage delinquency cost rates are at their lowest point in 35 years as demand for space pushes occupancies up for almost all property types, according to a new study. » read article