Waterstone Defeases CVS
Raleigh, NC: Waterstone Defeasance recently closed a defeasance transaction of an original $4.5 Million Corporate Trust loan, secured by CVS property in West Palm Beach, FL. Waterstone guided the owners through the defeasance process coinciding with the owners’ Sale of their property.
“Waterstone continues to earn our clients trust, this repeat client has been active in the CVS single tenant space as the pharma retail rental markets continue to show resilience in a rising interest rate environment.” –
Carol Tillman, COO 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.