$52 Million in Acquisition Financing Secured for Prince George's County Office Park

Richmond, VA, October 27, 2004. John B. Levy & Company is pleased to announce the placement of $52,000,000 in acquisition financing for BECO Park at Forbes Center. The property is a 14-building business park comprising approximately 600,000 square feet of one and two-story office and R&D space in Prince George’s County, Maryland just outside of Washington, DC.

The loan carries a 10-year term with a 30 year amortization and was priced very aggressively. The portfolio was recently purchased for $55 million which was a discount to market value because of the existing capital structure. The lender was comfortable with the strong cash flow and tenancy at the property, which justified the high loan-to-cost. 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 project is extremely well located, enjoys 91% occupancy – which is below the regional vacancy rate of 12.3 % for similar space, and offers competitively priced space.

“This is perhaps the largest financial transactions for commercial office space in Prince George’s County in over a decade,” said John. B. Levy, president, John B. Levy & Company. “The Prince George’s County economy has avoided the ups and downs experienced in other areas of the Washington D.C. Metro Area, due to a large presence of government tenants and is arguably the most stable suburban market in the United States. The location, the strength of the project and the market made the deal extremely attractive, and further demonstrates that well located and properly structured transactions are aggressively sought by lenders,” said Levy.

BECO Park at Forbes Center (the “Park”) is strategically located between Washington DC, Baltimore and Annapolis just moments from I-95 and Route 50 with frontage on Martin Luther King Boulevard in Lanham, Maryland. The properties offer easy access (via Route 50) to the Capital Beltway I95/I495 and the BWI Parkway. The 14 buildings are centered near the intersection of Forbes Boulevard and Martin Luther King Boulevard, and each building is separately parceled, but in aggregate, the buildings are located on 44.85 acres. The Park benefits from superior local access and proximity to public transportation (Amtrak and Metro Rail), area amenities, excellent visibility and ample parking.

About John B. Levy

John B. Levy & Company, Inc. is a real estate investment-banking firm founded in 1995 and headquartered in Richmond, Virginia. The firm raises equity and debt for developers and owners of commercial and multi-family projects nationwide. The firm has structured over $1 billion along the East Coast and Midwest. Representative transactions include: $43,000,000 in financing for CSC’s headquarter building in Maryland; $120 million in re-financing for a cluster of office buildings in the Mid-Atlantic region; and an acquisition/rehab loan for a multifamily project in Durham, North Carolina which closed in 20 days – record time. For more information go to www.jblevyco.com.