When he says “historic”, the bank thinks “decrepit.” Unless they building is the Empire State Building, age hurts value.
Seriously, the fact that he had the cash to buy the buildings but needs a line of credit against them to develop them tells me that the value of the buildings was quite low to begin with.
> But they're not aware that the filter is just anxiety.
Could this be deliberate? As working with people with anxiety problems is often a pain in the ass as they won't report problems for fear of seeming stupid or ask for help.
Confident people are far easier to work on a team with.