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 Defeases a Portfolio of Freddie Mac loans totaling over $200 Million

CHARLOTTE, NC: Waterstone Defeasance recently closed a portfolio defeasance transaction for seven loans with an original balance north of $200M, secured by multifamily properties in California and Nevada. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance 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 was a very exciting transaction to be a part of.  We are extremely appreciative that we were selected to handle this portfolio defeasance for our long-time client.  There were 7 loans being defeased and 13 being paid off through yield maintenance, so you can imagine there were a lot of moving parts.  We had a very tight timeline to hit to ensure the borrower did not have to pay additional interest on their yield maintenance payoffs.  We were able to coordinate with all parties through the expedited timeline to ensure the closing went off without a hitch.  We are happy to have this one wrapped up and look forward to more activity in the multifamily sector.”- Addison McMillan, Director with Waterstone

“We appreciated the outstanding job that Waterstone provided in executing the defeasance of our portfolio!  Their understanding of the market, attention to detail and attentiveness allowed this multiple defeasance transaction to close remarkably well.  We look forward to working with Waterstone in the future.” – Ryan A., 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.

Addison McMillan





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