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Brokerage
Posted: October 9, 2009
Commercial Defeasance structures $18.9 million defeasance for Wilkinson
Commercial Defeasance, LLC facilitated an $18.9 million defeasance for Wilkinson Real Estate Partners who refinanced three properties for $23 million. Fannie Mae provided the new financing for the 564 multifamily units. By combining three loans into one defeasance transaction, Commercial Defeasance helped the borrower save tens of thousands of dollars.
Phil Deguire, principal of Wilkinson Real Estate Partners said, "Once again, Commercial Defeasance streamlined the process and helped Wilkinson Real Estate Partners defease a portfolio of three multifamily properties in less than a week."
Jon Davis, deal manager at Commercial Defeasance, said, "Repeat business from satisfied customers is the cornerstone of our success. The completion of the transaction shows that, even in today's market, attractive agency financing can give borrowers the option to recapitalize their assets."
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