Raleigh, NC: Waterstone Defeasance recently closed a defeasance transaction for a $5 million CMBS loan, secured by a multifamily property in Montclair, NJ. 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 borrower had several obstacles with the property to resolve to make the sale of the property work, but after several months, Waterstone was successful in assisting the borrower in defeasing their loan.  The sale of the 133-unit multifamily property in NJ, retired over two million in CMBS debt..”

 – Carol Tillman, COO with Waterstone

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.

Carol Tillman

COO

704.926.6508

Carol@WaterstoneDefeasance.com

DefeasanceServices.com