Waterstone Defeasance closes $4.3 million CMBS loan transaction

Troy, NY Waterstone Defeasance closed a defeasance transaction for a $4.3 million CMBS loan, secured by a retail property. 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.