CHARLOTTE, NC: Waterstone Defeasance recently closed a defeasance transaction for a $22.0 million Freddie Mac loan, secured by a multifamily property in Glen Burnie, MD. 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.

“Waterstone is seeing a lot of activity in the multifamily market.  The sale of the property located in Glen Burnie, MD drove the defeasance. The closing retired agency debt of over $22M.  We look forward to another opportunity with this client in 2022.” – Carol Tillman, COO with 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.

Carol Tillman

COO

704.926.6508

Carol@WaterstoneDefeasance.com

DefeasanceServices.com