FALLS CHURCH, VA – March 26, 2012 – Spence Hill Associates announced today that it has arranged $1,400,000 of permanent financing for North Rock Plaza (top left photo), a 9,300 square-foot retail center located at 484 Blackwell Road, Warrenton, Fauquier County, Virginia.
Michael H. Trauberman, Managing Director of Spence Hill Associates, arranged and negotiated the financing on an exclusive basis on behalf of a Falls Church-based commercial real estate investor.
The loan was placed with a community bank, and refinanced an existing loan with a different bank. The 78% loan-to-value financing features a fixed interest rate of 4.375%, a five-year term with a five-year extension option, 25-year amortization, and the ability to prepay without penalty.
Mr. Trauberman commented: “The loan drew the attention of a large number of lenders due to the property’s excellent sponsorship, location, demographics, and tenancy. The bank that ultimately won the day offered an extremely attractive combination of pricing, structure, flexibility, and customer service.”
North Rock Plaza’s tenants include Northern Piedmont Federal Credit Union (lower left photo), MBH Settlement Group, Vocelli Pizza, and Nail Designs.
Spence Hill Associates, a real estate investment banking firm founded in 1993, arranges the financing and sale of commercial real estate, and provides financial advisory services to real estate owners, developers, and institutions throughout the United States. Spence Hill Associates is headquartered in Falls Church, Virginia.
For additional information, please contact:
Michael H. Trauberman
Spence Hill Associates
571-641-3050
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