Robert Levy
About Robert Levy
Robert Levy, 59, is an independent Class II director of Advanced Flower Capital Inc. (AFCG) and has served on the Board since December 2020. He is Managing Member at LBX Acquisitions (since Jan 2018), and previously held senior roles at Benefit Street Partners Real Estate and Centerline Capital Group; he holds an MBA from NYU Stern and a BA in Economics from Northwestern University . The Board has affirmatively determined he is independent under Nasdaq rules .
Past Roles
| Organization | Role | Tenure | Committees/Impact |
|---|---|---|---|
| Benefit Street Partners (Real Estate Group) | Chief Operating Officer | May 2015 – Jun 2016 | Senior operations leadership at multi-strategy credit manager (>$11B AUM) |
| Centerline Capital Group | CEO, COO, CFO, Trustee | Not specified (prior to 2015) | Led a multifamily finance/investment firm managing >$13B |
| Big V Capital | Co-founder | Mar 2016 onward (prior to LBX) | Oversaw/underwrote 11 SE U.S. shopping center acquisitions, capital raising, asset mgmt |
External Roles
| Organization | Role | Tenure | Notes |
|---|---|---|---|
| LBX Acquisitions (also described as LBX Investments) | Managing Member | Since Jan 2018 | Diversified commercial real estate investing; current primary role |
Board Governance
- Independence: Board determined Levy is independent (Nasdaq standard) .
- Committees (2025):
- Audit & Valuation Committee: Member; designated “audit committee financial expert” .
- Compensation Committee: Member .
- Nominating & Corporate Governance: Not listed as a member in 2025 .
- Committees (2024): Audit & Valuation (member; financial expert), Compensation (member) .
- Attendance: In 2024, Board held 10 meetings; Audit & Valuation 10; Compensation 1; Nominating 2. Each director attended at least 80% of meetings of the Board and committees on which they served; independent directors met in executive session . In 2023, each director attended at least 75% of meetings; Board 12; Audit & Valuation 10; Compensation 2; Nominating 2 .
- Lead Independent Director: Thomas L. Harrison (not Levy) .
Fixed Compensation (Director)
| Metric | 2023 | 2024 |
|---|---|---|
| Annual cash retainer | $50,000 | $50,000 |
| Committee chair adders (structure) | Lead Ind. +$15k; Audit Chair +$25k; Comp Chair +$10k; Nominating Chair +$5k (not specific to Levy) | Lead Ind. +$15k; Audit Chair +$25k; Comp Chair +$10k; Nominating Chair +$5k (not specific to Levy) |
| Meeting fees | None (no per-meeting fees) | None (no per-meeting fees) |
| Cash actually paid to Levy | $50,000 | $50,000 |
Notes: Directors must attend at least 75% of all Board/committee meetings in a fiscal year to be eligible for compensation .
Performance Compensation (Director)
| Component | 2023 | 2024 |
|---|---|---|
| Stock awards (grant-date fair value) | $14,994 | $14,999 |
| Option awards | $0 | $0 |
| Performance metrics tied to director pay | None disclosed (annual restricted stock grants; no performance metrics) |
Timing of grants: Company grants equity annually and may grant on a discretionary basis; no timing around MNPI; options not granted to directors in 2023–2024 .
Other Directorships & Interlocks
| Company | Type | Role | Notes |
|---|---|---|---|
| — | — | — | No current public company directorships disclosed for Robert Levy in AFCG proxies . |
- Interlocks/Conflicts: None disclosed for Levy. Notably, Audit & Valuation Committee (of which Levy is a member) oversees related-party transactions and Management Agreement oversight, providing governance checks over external manager and affiliate dealings .
Expertise & Qualifications
- Designated audit committee financial expert; financially literate (SEC/Nasdaq standards) .
- Deep real estate finance, capital raising, and senior operating experience (Centerline CEO/COO/CFO; BSP Real Estate COO) .
- Education: MBA (NYU Stern); BA Economics (Northwestern) .
Equity Ownership
| Metric | Mar 26, 2024 | Mar 28, 2025 |
|---|---|---|
| Total beneficial ownership (shares) | 8,645 | 10,437 |
| Ownership % of outstanding | <1% | <1% |
| Common stock (direct) | 2,245 | 2,245 |
| Options exercisable within 60 days | 6,400 | 6,400 |
| Unvested restricted stock | — | 1,792 |
| Shares outstanding (reference) | 20,667,094 | 22,596,007 |
- As of Dec 31, 2024, Levy also had 1,282 unvested restricted stock awards scheduled to vest on Jan 2, 2025 and vested options to purchase 6,400 shares (context for year-end position) .
- Hedging/pledging: Company policy prohibits hedging and pledging of company stock by insiders (directors, officers, employees) .
Governance Assessment
- Effectiveness and Engagement: Levy’s active service on both Audit & Valuation (financial expert) and Compensation Committees positions him at the center of financial oversight, related-party review, and pay governance—key risk areas for an externally managed REIT; attendance thresholds were met (≥80% in 2024; ≥75% in 2023) .
- Alignment: Director pay mix skews toward modest cash retainers with annual time-based restricted stock; no options granted in 2023–2024, consistent with lowering risk and focusing on share ownership. Levy’s beneficial ownership increased to 10,437 shares by Mar 28, 2025, including exercisable options; still <1% of outstanding shares—typical for independent directors but suggests moderate direct alignment .
- Independence and Conflicts: Levy is independent; as an Audit & Valuation Committee member he helps oversee significant related-party dynamics (external Management Agreement fees, affiliate agent roles, co-investments). This committee structure mitigates conflicts inherent in the external-manager model, but continued scrutiny is warranted given the scale and complexity of affiliate arrangements and fee structures .
- Red Flags: None specific to Levy were disclosed (no pledging, no related-party transactions tied to him, no low attendance). Enterprise-level related-party exposure (manager fees, affiliate agents) is a structural risk that Levy’s committees oversee; no adverse director-specific flags identified in the filings - -.
Overall signal: Levy’s financial expertise and committee workload strengthen Board oversight of valuation, financial reporting, and compensation amid complex affiliate relationships—supportive for investor confidence when paired with disclosed independence and attendance - -.