Waterstone Defeasance closes on a $4.3Million CMBS loan in Tallahassee, FL
Raleigh, NC: Waterstone Defeasance recently closed a defeasance transaction for a $4.3 million CMBS loan, secured by a retail (Kohls) anchored retail property located in Tallahassee, FL. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their property, terms undisclosed.
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.
“Waterstone continues to deliver a high level of expertise for our clients, retail properties continue to challenge the status quo, our clients location, location, location strategy allowed for a smooth exit.” John Felter – Managing Director of Waterstone.
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.
Please contact us today with any questions regarding defeasance or to request a quote.
John Felter
561.352.6551
John@WaterstoneDefeasance.com
