SOURCE: Waterstone Defeasance

Waterstone Defeasance

September 30, 2016 08:53 ET

Waterstone Defeasance Closes on the Defeasance of a $31.0 Million CMBS Loan

CHARLOTTE, NC--(Marketwired - September 30, 2016) - Waterstone Defeasance recently closed a defeasance transaction of a $31.0 million CMBS loan, secured by an office property in Coral Gables, Florida. 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.

"We've had such a great relationship with this group over the years and look forward to working with them again," said Carol Tillman, COO at Waterstone Defeasance.

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.

Contact Information

  • Contacts:

    Carol Tillman
    COO
    704.926.6508

    Brian Pedersen
    Director
    704.926.6533

    DefeasanceServices.com