Waterstone Defeasance, Closes on a $3.3 Million Retail Shadow-Anchored
Raleigh, NC: Waterstone Defeasance recently closed a defeasance transaction of an original $3.3 Million CMBS loan, secured by a retail shadow-anchored property in Fort Wright, KY. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance 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.” –
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.