Waterstone Defeasance, LLC Closes on multiple CMBS Loans totaling $6.7 Million
CHARLOTTE, NC: Waterstone Defeasance recently closed on the defeasance of two CMBS loans totaling $6.7 million secured by retail properties located in NC. 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.
“Our client continues to restructure his retail portfolio through sales and refinancing. The defeasance closing corresponded with the refinancing of his two CVS properties located in Asheboro and Monroe. We look forward to continuing to work with him.” – Carol Tillman, COO with Waterstone
“You and Carol are so on top of your game it is commendable and impressive. I love working with you both.” – Joe R., Borrower
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.