March 2005
Mortgage Banking;Mar2005, Vol. 65 Issue 6, p135
This article reports that Commercial Defeasance LLC, Charlotte, North Carolina, completed three defeasance transactions valued at a total of $13,29 million for Santa Monica, California-based Watt Commercial Properties Inc., enabling Watt to refinance all three of these securitized loans. Watt chose to defease the loans to take advantage of both equity gains and lower available interest rates, according to Commercial Defeasance. Commercial Defeasance first structured Watt's $3.18 million defeasance transaction for the Compton Towne Center in Compton, California, a 132,139-square-foot retail center anchored by Circuit City.


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