News: Front Section
Posted: August 4, 2017
Waterstone Defeasance closes on a $14 million loan
Snellville, GA Waterstone Defeasance closed a defeasance transaction for a $14 million CMBS loan, secured by a multifamily 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.
“The transaction was for the sale of a multifamily property in GA. The defeasance and sale closed without any issues. We’ve worked with this group numerous times and greatly appreciate their loyalty and faith in our services,”said Carol Tillman, COO with Waterstone.
“My experience with Waterstone was excellent. They provided top notch customer service and were always available to answer any questions that I had,” said Colt Conner of ECI Group.
“Waterstone did an excellent job closing this transaction. Their team worked diligently to meet our deadline.” said Bret Block of Fine and Block Attorneys.
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. Headquartered in Charlotte, North Carolina, the company also has offices in New York, Dallas, and Irvine.
Tags:
Front Section
MORE FROM Front Section
Newmark negotiates sale of 10 Liberty Sq. and 12 Post Office Sq.
Boston, MA Newmark has completed the sale of 10 Liberty Sq. and 12 Post Office Sq. Newmark co-head of U.S. Capital Markets Robert Griffin and Boston Capital Markets executive vice chairman Edward Maher, vice chairman Matthew Pullen, executive managing director James Tribble,
.png)
Columns and Thought Leadership
How COVID-19 has impacted office leasing - by Noble Allen and John Sokul
To say that the effects of COVID-19 has transformed office leasing is an understatement. When COVID-19 was at its peak, office spaces were practically abandoned either through governmental mandates or through actions taken by businesses themselves.
Make PR pop by highlighting unique angles - by Stanley Hurwitz
Coming out of the pandemic, a client with three hotels in Provincetown, Mass., needed ways to let the world know his properties were open for business for the 2021 tourist season.
Four tips for a smooth 1031 Exchange - by Bill Lopriore
Many real estate investors do not understand the specific requirements that must be met to secure the benefits of a tax-deferred 1031 exchange. For example, the replacement property must be identified within 45 days of the closing date of the relinquished property.
Five ways to ruin a Section 1031 Like-Kind Exchange - by Bill Lopriore
While there is some flexibility when structuring a like-kind exchange, some important requirements must be met. A mistake can ruin your exchange. Here are five mistakes to avoid:
