Waterstone Defeasance LLC Closed the Defeasance on a $30 Million Multifamily Portfolio
CHARLOTTE, NC: Waterstone Defeasance recently closed on multiple defeasance transaction totaling $30 million, secured by multifamily properties located in Michigan. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their properties.
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 client is a very experienced Real Estate owner; their understanding of markets and interest rates helped the defeasance go smoothly.” – John Felter, 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.