Lower interest rates coupled with a recovery in property fundamentals and appraised values have made defeasance
an option for many commercial real estate borrowers who wish to lock in a lower rate or take cash out of their properties," Trepp noted.
LOS ANGELES, June 19, 2014 /PRNewswire-iReach/ -- AST Defeasance
Consultants recently announced the closing of a $545 MM commercial mortgage backed securities loan defeasance
transaction, believed to be one of the largest defeasance
transactions in the United States since 2007.
is a complex process with many technical requirements and significant transaction costs.
Put in technical language, the proposed statement requires that, for current and advance refundings resulting in debt defeasance
reported by proprietary activities, the difference between the reacquisition price and the net carrying amount of the old debt be deferred and amortized.
selected Defease With Easeto facilitate the simultaneous defeasance
of $66 million of CMBS loans in two securitizations.
Chatham Financial managed the defeasance
process from start to finish, coordinating the efforts of servicers, ratings agencies, and other third parties to ensure the defeasance
closed simultaneously with the underlying real estate transaction.
Capmark also assisted the borrower with the defeasance
by structuring a custom debt security through Fannie Mae that saved the borrower over $300,000 on the cost of the defeasance
," said Crimmins.
Defease With Ease[R], headquartered in Charlotte, North Carolina, recently facilitated a $160 million defeasance
transaction for Hometown America Corporation in connection with the sale of ten properties located in Texas, Arizona and Colorado.
Phil Deguire, Principal of Wilkinson Real Estate Partners stated, "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.
, LLC recently launched a new website at www.
CMBS: Property Market Performance Drives Delinquencies and Defeasance
, found that when commercial real estate values increased, the collective delinquencies on the underlying loans decreased by both value and number.
, LLC recently facilitated the defeasance
of 111 Eighth Avenue in Manhattan's Chelsea neighborhood.
The complaint alleges that the Prospectus for the 2007 Copia Bonds was false and misleading in that it was affirmatively represented in the Prospectus that the 2007 Copia Bonds had been issued for the express purpose of defeasance
of a prior 1999 bond issue (the "1999 Bonds") on or before September 7, 2007.
3 million defeasance
transaction on a premier high-rise office building in Beverly Hills, CA.
Calabasas, California-based ARCS Commercial Mortgage announced the creation of a strategic relationship between ARCS and Commercial Defeasance
LLC, Charlotte, North Carolina.