Waterstone Defeasance closes on a 4.7 Million CMBS Loan
Waterstone Defeasance recently closed a defeasance transaction for a $4.7 million CMBS loan, secured by an un-anchored retail property in Gardena, CA. Waterstone guided the owners through the defeasance process coinciding with the owners’ sale of their property.
“Retail properties continue to trade during these challenging times, location, location, location. Owners continue to reposition retail properties to attract customers with a focus on services.” John Felter, Managing Director with Waterstone
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.
About Waterstone Defeasance
Waterstone Defeasance is an independent consulting firm specializing
in assisting commercial real estate borrowers through the defeasance
process. Since 2004, 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 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.
John Felter
Managing Director
561.352.6551
John@WaterstoneDefeasance.com
DefeasanceServices.com
