CHARLOTTE, N.C., Jan. 13 /PRNewswire-FirstCall/ -- Commercial Defeasance, LLC, the industry leader in commercial real estate defeasance, recently launched a new website at www.defeasewithease.com . The popular Quick Quote(TM) calculator received enhancements and remains the focal point of the site. It allows you to save multiple cost estimates and have them automatically updated with the push of a button.
John Hosmer, CEO at Commercial Defeasance, stated, "In today's challenging real estate market we continue to exceed our clients' needs and strive for the best customer service on every defeasance. As the industry leader we continually strive to create innovative new products to make the process more streamlined and to save our clients money. Our past and potential customers should find our refreshed website more comprehensive and easier to navigate."
What is Defeasance?
Defeasance is a substitution of collateral in which a portfolio of government securities replaces the real estate as the collateral for a commercial loan. Redemption of principal and interest from the securities pay remaining debt service, so the promissory note technically remains in place but is repaid from the proceeds of the securities purchased. The securities are typically purchased with a portion of the proceeds of a sale or refinance, so the defeasance transaction is usually coordinated with a related real estate transaction. Most fixed-rate conduit/CMBS loans originated since 1998 have defeasance provisions written into the loan documents.
About Commercial Defeasance, LLC
Commercial Defeasance, LLC is the market leader in facilitating commercial real estate loan defeasances. The company actively manages all aspects of the 30-day defeasance process, so the borrower and the borrower's attorney and broker can focus on the related real estate transaction with confidence that the defeasance will close on time. Commercial Defeasance has continuously led the defeasance market since pioneering the CMBS defeasance facilitation business in 2000. The company works on defeasance transactions in the United States and Canada for all property types. Custom Hedging Solutions, LLC, an affiliate, also facilitates hedging transactions to mitigate the customer's interest rate exposure or to lock-in the cost of a defeasance portfolio. For more information or a free defeasance cost estimate, please visit www.defeasewithease.com or call 1-800-624-4779.
Available Topic Expert(s): For information on the listed expert(s), click appropriate link. John Hosmer http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=66854 Jason Kelley http://profnet.prnewswire.com/Subscriber/ExpertProfile.aspx?ei=66918
SOURCE Commercial Defeasance, LLC
