SOURCE: Waterstone Defeasance

Waterstone Defeasance

June 27, 2016 15:10 ET

Waterstone Defeasance, LLC Closes on Defeasance of a $38.1 Million CMBS Loan

CHARLOTTE, NC--(Marketwired - June 27, 2016) - Waterstone Defeasance closed on a defeasance deal involving a $38.1 million conduit loan, secured by a multifamily property located in Atlanta, GA. 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.

"The transaction went smoothly. Everyone worked together to stay on top of all the moving parts and make sure we closed on time," said Brian Pedersen, Director 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:
    George Rodriguez
    Partner
    704.926.6503

    Brian Pedersen
    Director
    704.926.6533

    Steve Hall
    Managing Director
    704-926-6501

    DefeasanceServices.com