Waterstone Defeasance LLC Closes on multiple retail properties totaling $4.0 Million
CHARLOTTE, NC: Waterstone Defeasance recently closed two defeasance transactions totaling $4.0 million, secured by CVS properties located in Illinois and Ohio. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance of the 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.
“This group was a pleasure to work with because they are long time real estate owners and very much understood the process. We look forward to working with them more in the future!” – John Felter, Director with Waterstone
“I have engaged Waterstone on a number of transactions and will continue to use only Waterstone. I have worked, exclusively, with John Felter who is a detailed oriented, meticulous and readily available representative. John and his team-mates understand that successful transactions entail more than simply satisfying clients’ expectation; success entails exceeding clients’ expectation which is what Waterstone is all about.” – Marlon J., Mortgage Banker
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.