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 LLC Closes on a $24.8 Million CMBS Loan

CHARLOTTE, NC: Waterstone Defeasance recently closed a defeasance transaction for a $24.8 million CMBS loan, secured by a multifamily property located in Charleston, SC. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their property.

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 was our client’s first experience with defeasance.  The sale of their 304-unit, multifamily property located in Charleston was the reason behind the defeasance. Waterstone works diligently during the process to keep our clients updated on their securities cost so they are not taken by surprise at closing. Treasury yields have continued to fluctuate over the last several months which drives the cost of securities portfolio.  Because of Waterstone’s proactive attitude and our connection with multiple brokers we continue to deliver the best possible pricing in the defeasance market.” – 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.


Please contact us today with any questions regarding defeasance or to request a quote.

Carol Tillman






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