Commercial Defeasance Closes New Deal

While Commercial defeasance is proud of its track record of bringing the same focus and commitment to a small defeasance that we bring to a complex defeasance, it is also the case that Commercial Defeasance brings the most defeasance experience in the industry to every single defeasance. Today was no different when Commercial Defeasance closed a $127,000,000 defeasance of five loans secured by 71 properties across 23 states.
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What is Defeasance? (The Cocktail Party Answer)

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Defeasance is an old legal term for a set of conditions in a document that, when fulfilled at a future date, render the effect of the document null and void. If something is defeasible, it is capable of being voided. If something is indefeasible, it cannot be voided.  For example, the Declaration of Rights of the Pennsylvania Constitution adopted in 1776 states:
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Tips for Negotiating Defeasance in Conduit Loans – Part 1

The “Defeasance Collateral” Definition In the past few years, some lenders’ CMBS loan documents have been revised to allow the defeasance collateral to include agency securities.  However, other lenders have been slow to adopt such a change even though REMIC regulations allow it.