Waterstone Defeasance closes on a $3.4 Million CVS-Pharmacy
Raleigh, NC: Waterstone Defeasance recently closed a defeasance transaction of an original $3.4 Million Corporate Trust loan, secured by a CVS-Pharmacy in Omaha, NE. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their loan.
“Waterstone continues to deliver a high level of expertise for our clients, retail properties continue to challenge the status quo, our client’s location, location, location strategy allowed for a smooth exit.” – John Felter, Managing Director with Waterstone
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.
Please contact us today with any questions regarding defeasance or to request a quote.