Waterstone Defeasance closes on a $10Million CMBS loan, MHP property located in Madison, WI
Raleigh, NC: Waterstone Defeasance recently closed a defeasance transaction of an original $10 million CMBS loan, secured by a MHP property in Madison, WI. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance 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.
“Waterstone continues to earn our clients trust, this repeat client has been active in the MHP space as the rental markets continue to show resilience in a rising interest rate environment.”
– Carol Tillman, COO with Waterstone
About Waterstone Defeasance
Waterstone Defeasance 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 Raleigh, North Carolina, the company also has offices in New York, Dallas, and Anaheim.
Please contact us today with any questions regarding defeasance or to request a quote.