Waterstone Defeasance Closes on a $12.1 Million FreddieMac Loan.
Raleigh, NC: Waterstone Defeasance recently closed a defeasance transaction for a $12.1 million FreddieMac loan, secured by a multifamily property in Newport News, VA. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance of their property.
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.
“Waterstone works closely with numerous mortgage companies to assist their clients with the defeasance process. We appreciate their continued support and confidence in our services.”
– Carol Tillman, COO with Waterstone
About Waterstone Defeasance
Waterstone Defeasance 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 Raleigh, North Carolina, the company also has offices in New York, Dallas, and Anaheim.
Please contact us today with any questions regarding defeasance or to request a quote.