CHARLOTTE, NC: Waterstone Defeasance recently closed a defeasance transaction for a $6.5 million CMBS loan, secured by a retail property in Indianapolis, IN. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance of their loan.
As the defeasance consultant, Waterstone managed the activities of the numerous parties involved with the transaction in order to meet the borrower’s closing schedule. Parties associated with a defeasance transaction typically include the servicer, servicer’s counsel, borrower, borrower’s counsel, securities broker, custodian, accountant, rating agencies, and the successor borrower.
“It was a real pleasure working with all parties on this transaction. They were all very familiar with the process which assisted in meeting their quick closing timeline. We hope to work with all again in the future.”- Addison McMillan, Director with Waterstone Defeasance
“I was extremely satisfied with the services that Waterstone provided and would welcome the opportunity to work with them again. They were very knowledgeable, professional and attentive to my needs during this defeasance transaction.” – Brian P., Borrower
“Waterstone provided excellent service throughout this defeasance process. They were well organized and efficient which allowed this transaction to close smoothly and efficiently.”- Stephen R., Borrower’s Counsel
About Waterstone Defeasance
Waterstone Defeasance, LLC is an independent consulting firm specializing in assisting commercial real estate borrowers through the defeasance process. Since 2005, Waterstone has assisted owners and their advisors achieve the lowest possible defeasance costs. Waterstone has developed an industry-leading online defeasance calculator so clients can get a quick defeasance estimate on their website (defeasanceservices.com). Headquartered in Charlotte, North Carolina, the company also has offices in New York, Dallas, and Irvine.
Please contact us today with any questions regarding defeasance or to request a free quote.