With over 100 years of combined experience, our advisors understand the defeasance process from the inside out. We help property owners and brokers navigate the intricacies of commercial real estate loan exiting.

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Waterstone Defeasance Closed on the Refinance of a $2.65 Million CMBS Loan

CHARLOTTE, NC: Waterstone Defeasance recently closed a defeasance transaction for a $2.65 million CMBS loan, secured by a Self-Storage property in California. 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.

“This transaction required a very quick turnaround but we were able to defease and refinance the loan to meet the borrower’s schedule.” – Carol Tillman, COO with Waterstone.

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.

 

Contacts:

Carol Tillman, COO – 704.926.6508

Brian Pedersen, Director – 704.926.6533

DefeasanceServices.com

 

Lock it Up self storage

Author

Kathleen