CHARLOTTE, NC: Waterstone Defeasance recently closed a defeasance transaction for a $4.5 million CMBS loan, secured by a retail property in Winston Salem, NC. 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 sale of this single retail asset located in North Carolina drove the defeasance transaction.  The 53,000 sq. ft. unanchored center is currently 80% occupied and was built in 1999.  We appreciate the borrower’s counsel referral of his client to Waterstone.” – Carol Tillman, COO with 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.

Please contact us today with any questions regarding defeasance or to request a free quote.

 Carol Tillman

COO

704.926.6508

carol@waterstonedefeasance.com

DefeasanceServices.com