Defease with Ease Facilitates $66 Million Defeasance

Defease With Ease® facilitated a $66 million defeasance transaction that helped TMI Hospitality close a $93 million refinancing of 22 hospitality properties.

Charlotte, NC – TMI Hospitality, Inc. selected Defease With Ease to facilitate the simultaneous defeasance of $66 million of CMBS loans in two securitizations. The loans were secured by 22 hospitality properties located in Arizona, Illinois, Iowa, Michigan, Minnesota, Montana, Ohio, Oklahoma, South Dakota, Wisconsin, and Wyoming. The properties were part of a $93 million refinancing funded by KeyBank and Citibank through their respective CMBS programs.

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