Waterstone Defeasance Closing on two Multi-Family Properties
Raleigh, NC: Waterstone Defeasance recently closed a defeasance transaction for two properties totaling $23 million in FreddieMac loans, secured by two multi-family (garden apartments) properties located in Albuquerque, NM. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their properties.
“Waterstone continues to deliver a high level of expertise for our clients, multi-family properties continue to trade at compressed cap rates, we are seeing defeasance volumes continuing uptrends as clients are expediting their timeline in executing their exit strategy “. – Addison McMillan, Director with Waterstone
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.
Please contact us today with any questions regarding defeasance or to request a quote.