Commercial Defeasance facilitates $19 million defeasance

Commercial Defeasance, LLC recently facilitated a $19 million defeasance for Maple Avenue Limited Partnership allowing it to refinance the Maple Avenue Shopping Center. The financing was arranged through Metropolis Capital Finance and provided by New York Life Investment Management. Custom Hedging Solutions, a Commercial Defeasance company, also assisted Maple Avenue Limited Partnership with an interest rate hedge that locked in the bulk of their defeasance cost. Emily Bumgardner, a deal manager at Commercial Defeasance, said, "Commercial Defeasance saved the customer thousands in recording taxes by coordinating the defeasance as a New York-style transaction in which the current lender assigned the existing note and mortgage to the new lender. Then our hedging affiliate, Custom Hedging Solutions, saved the customer thousands more by hedging against a decline in the yield of the bonds that comprised the defeasance portfolio." "The able guidance provided by Commercial Defeasance and Custom Hedging Solutions really allowed us to focus on the refinancing with complete confidence that the defeasance would close on time and on budget," said a spokesperson for Maple Avenue Limited Partnership. Commercial Defeasance, LLC is the market leader in commercial real estate loan defeasance. The company actively facilitates all aspects of the 30 day defeasance process, so the borrower can be confident that the defeasance will close on time. The company facilitates defeasance transactions in the United States and Canada for all property types. For more information or for a free defeasance cost estimate, please visit www.defeasewithease.com or call 1-800-624-4779. Custom Hedging Solutions, LLC, Commercial Defeasance company, assists clients with interest rate risk management. From negotiating the terms of a swap or running a competitive interest rate cap auction to hedging the securities cost of a defeasance transaction, they deliver intelligent, unbiased solutions and price transparency. For more information on hedging, please visit www.hedgewithease.com or call 1-866-762-1506.