Publications

- March 1, 2018: Vol. 10, Number 3

To read this full article you need to be subscribed to Institutional Real Estate Asia Pacific

Shop Talk: A conversation with John Levy with Loretta Clodfelter

by Loretta Clodfelter

To start, can you briefly describe the Giliberto-Levy High Yield Real Estate Debt Index?

Can I back up just a minute? We should start with the G-L 1, which is our original institutional index, because it will give you an understanding of why we needed G-L 2. Back in the early 1990s, Michael Giliberto and I started talking about what was going on in the commercial mortgage business on the institutional side. At best, it was in its infancy, so we thought it might be interesting if we could do a mark-to-market index for commercial mortgages. We started this index, and at that point it was called the Solomon-Levy because Solomon Brothers was our partner and Michael worked there. It became the Giliberto-Levy Index, which it has remained. It is a fixed-rate, first-mortgage benchmark or index for institutional real estate. It has grown over the years; right now, the real estate behind the G-L 1 is close to a half a trillion US dollars. To put it in perspective that

Glossary, videos, podcasts, research in the Resource Center

Forgot your username or password?

We use cookies and other tracking technologies to personalize your user experience on our site and perform site analytics. By clicking on “I accept”, you consent to our Privacy Policy.