Waterstone Capital Advisors Pays $1.1 Million To Defeasance Client

Posted by Orb Staff on October 20, 2008 No Comments
Categories : Commercial Mortgage

Waterstone Capital Advisors LLC, a defeasance consulting firm, has written a check for over $1.1 million to a West Coast client.

‘Waterstone's transparent approach to the residual value in defeasance transactions was obviously a huge windfall to the borrower,’ says Mike Schoenstein, a principal of the firm.

Defeasance is a process commercial real estate borrowers may need to go through if they are selling their property encumbered by conduit or refinancing a commercial mortgage-backed securities loan, the company explains. Defeasance releases the mortgage from the loan and allows the borrower to close the related sale or refinance the transaction.

Source: Waterstone Capital Advisors

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