Waterstone Defeasance Closes on two CMBS Loans totaling $83.2 Million
CHARLOTTE, NC: Waterstone Defeasance recently closed on two defeasance transactions totaling $83.2 million, secured by multifamily properties located in Arlington, VA. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance of their loans.
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 closing was associated with multiple properties, with multiple loans, that the borrower was refinancing. Even with the complexity of the transactions, Waterstone and team closed the transaction and met the client’s objectives.” – 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.
Carol Tillman, COO – 704.926.6508