Waterstone Closes a Defeasance Transaction Involving a $2.15 Million Refinance
CHARLOTTE, NC: Waterstone Defeasance closed a defeasance transaction of a $2.15 million CMBS loan, secured by a retail property in Jacksonville, Florida. 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.
“We enjoy helping our clients work through the defeasance process while they iron out the refinance details,” said Steve Hall, Director at Waterstone Defeasance.
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.
Steve Hall, Director – 704.236.4823
Brian Pedersen, Director – 704.926.6533