Subject: FNC
Closed! $11 million in Non-Recourse Mezzanine Financing for Ground-Up Condominium Project
John B. Levy & Company (JBLCO) is delighted to announce the closing of an $11,000,000 non-recourse construction mezzanine loan for the Lowell, a ground-up condominium project in McLean, Virginia. This milestone achievement reflects JBLCO's continued commitment to providing innovative financial solutions for real estate ventures during challenging times.
RICHMOND, Va., Dec. 12, 2023 /PRNewswire-PRWeb/ -- John B. Levy & Company (JBLCO) is delighted to announce the closing of an $11,000,000 non-recourse construction mezzanine loan for the Lowell, a ground-up condominium project in McLean, Virginia. This milestone achievement reflects JBLCO's continued commitment to providing innovative financial solutions for real estate ventures during challenging times.
In collaboration with a private equity fund, JBLCO co-invested its capital to bridge the gap between the first mortgage and the equity position, ensuring the seamless progression of this luxury condominium project with a projected sellout of over $80 million. This construction mezzanine financing underscores JBLCo's confidence in the Lowell's potential and demonstrates the strong partnerships formed to support ambitious real estate developments.
The Lowell is situated in a prime location and will deliver a luxury condominium project with unparalleled finishes and remarkable walkability for the area. JBLCO recognizes the significance of this development in meeting the evolving demands of the real estate market and is proud to have financially contributed to its realization.
This project aligns with JBLCO's mission to empower real estate developers with the necessary resources to bring visionary projects to life. The firm has significant expertise in developing and navigating complex financial landscapes and aggressively seeks additional opportunities.
About John B. Levy & Company John B. Levy & Company is a premier real estate investment banking firm that provides various financial services, including debt and equity placement for commercial real estate transactions. With a focus on innovation and strategic partnerships, JBL&Co. has a proven track record of successfully navigating the complexities of the real estate finance landscape.
Media Contact
John Levy, John B. Levy & Company, Inc., 1 8045009025, [email protected], www.jblevyco.com
Julia Grant, John B. Levy & Company, Inc., 1 8045009026, [email protected], www.jblevyco.com
SOURCE John B. Levy & Company, Inc.
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