Waterstone Defeases a $2.575 Million CMBS Loan
CHARLOTTE, NC: Waterstone Defeasance closed a defeasance transaction for a $2.575 million CMBS loan, secured by a retail property in Walpole, MA. 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.
“I would use Waterstone for all of my defeasance transactions because they made me feel like I was their only client. Their attention and understating of the process allowed me peace of mind throughout the entire transaction,” said Soozen Tribuna with Stop & Shop Walpole.
“They were a pleasure to work with and very knowledgeable clients,” said John Felter, Managing Director at 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.
John Felter, Managing Director – 561.352.6551
Brian Pedersen, Director – 704.926.6533