Waterstone Defeasance closes on two CMBS loans totaling $11.7 million for 2 multi-family properties in Fresno, CA
Raleigh, NC: Waterstone Defeasance recently closed a defeasance transaction for $11.7 million on two CMBS loans, secured by two multi-family properties located in Fresno, CA. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their properties, terms were undisclosed.
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.
“The multi-family sector continues to drive the CRE market, appreciation in property values and rising intertest rates are fueling sales across all property types.” – Addison McMillan, Director 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.
Please contact us today with any questions regarding defeasance or to request a quote.