$7,000,000 Million Financing Secured Retail Center

March 26, 2003: Richmond-based John B. Levy & Company, Inc. is pleased to announce it has secured $7 million in financing for the Haynes Chippenham Plaza, a community shopping Center located at Hull Street and Chippenham Parkway. This 245,000 square foot center is anchored by a Haynes Furniture Store showroom and several other smaller tenants, such as Duron Paint and Harbor Freight. Haynes Furniture Store, a regional furniture company with several locations in Richmond and Tidewater, owns the center.

“Despite the war and the economic uncertainty we were able to secure a $7 million loan with a 15 year term for this client,” stated John B. Levy, president, John B. Levy & Company. “We are extremely pleased we were able to assist this client at a time when non-credit anchored tenants are extremely difficult to finance, and retail projects are not deemed particularly attractive” noted Levy. The property was financed with a 6.33% fixed-rate, permanent mortgage having a 15-year term that amortizes over 15 years.

John B. Levy & Company, Inc. is a real estate investment-banking firm founded in 1995 and headquartered in Richmond, Virginia. The firm raises equity or debt for developers and owners of commercial and multi-family projects nationwide. The firm has structured over $1 billion in financing. Despite a tumultuous economic environment over the past 90 days, the firm has successfully closed a number of transactions, each with its own property specific challenges. Representative transactions include: a $43,000,000 in financing for CSC’s new headquarter building in Maryland; $120 million in re-financing for a cluster of office buildings in the Mid-Atlantic region; a $7.4 million acquisition/ rehab loan for a multifamily project in Durham, North Carolina (closed in 20 days) and an office building in Orlando, Florida, a market that has faced significant vacancies over the past 18 months.

For further information, contact Andrew R. Little at 804-644-2000, ext. 260 or alittle@jblevyco.com.