CHARLOTTE, NC. – August 26, 2009 – Commercial Defeasance, LLC recently facilitated an $18.9 million defeasance for Wilkinson Real Estate Partners who refinanced three Greenville, South Carolina properties for $23,000,000. Fannie Mae provided the new financing for the 564 multifamily units. By combining three loans into one simultaneous defeasance transaction, Commercial Defeasance helped the borrower save tens of thousands of dollars.
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.”
Jon Davis, Deal Manager at Commercial Defeasance, said, “Repeat business from satisfied customers is the cornerstone of our success. The completion of the transaction shows that, even in today’s market, attractive agency financing can give borrowers the option to recapitalize their assets.”
About Commercial Defeasance, LLC
Commercial Defeasance, LLC is the market leader in commercial real estate loan defeasance. The company actively facilitates all aspects of the 30 day defeasance process, so the borrower can be confident that the defeasance will close on time. Commercial Defeasance has continuously led the defeasance market since pioneering the CMBS defeasance business in 2000. The company facilitates defeasance transactions in the United States and Canada for all property types. Custom Hedging Solutions, LLC, an affiliate, also assists borrowers with hedging transactions to mitigate their interest rate exposure and lock-in the cost of their defeasance portfolio.For more information or a free defeasance cost estimate, please visit www.defeasewithease.com or call 1- 800-624-4779.
Media Contact: Chuck Spencer, Marketing Director, Commercial Defeasance, 704-731-6268,