Waterstone Defeasance closes on a $6 Million grocery-anchor property
Raleigh, NC: Waterstone Defeasance recently closed a defeasance transaction for a $6 million CMBS loan, secured by a grocery anchored property in Clovis, NM. Waterstone guided the owners through the defeasance process coinciding with the owners’ refinance of their property.
“Waterstone continues to deliver a high level of expertise for our clients, retail properties continue to challenge the status quo, our client’s location, grocery-anchored, 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.
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.