FALLS CHURCH, VA – Jan. 23, 2013 – Spence Hill Associates
announced today that it has arranged $2,006,000 of permanent financing for Delaney
Plaza, a 9,775 square-foot shopping center located at 4800-4812 Dale
Boulevard, Woodbridge, Virginia.
Michael H.
Trauberman, Managing Director of Spence Hill Associates, arranged and
negotiated the financing on behalf of Woodbridge Village, LLC of Alexandria,
Virginia. The 10-year loan was placed
with a Virginia-based bank, and features an initial five-year, fixed interest
rate of 3.40%.
Mr. Trauberman
commented: “Only 31 days passed from
execution of the lender’s term sheet until settlement – and that includes
holidays. This was significant since
the success of the transaction was dependent upon closing in a highly
compressed timeframe.”
Delaney Plaza is a
neighborhood convenience center situated at the signalized intersection of Dale
Boulevard and Delaney Road. The center
is on the “commute home” side of Dale Boulevard, and provides residents and
commuters with quick options for food and services. Traffic counts are in excess of 25,000 cars per day. The center features a mix of national,
regional, and local tenants including Papa Johns and Tire Zone.
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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