Waterstone Capital Advisors, based in Charlotte, NC, transforms itself from a successful defeasance consulting company to a broader commercial real estate firm with several new business lines.
FOR IMMEDIATE RELEASE – November 14, 2009
Waterstone Capital Advisors, based in Charlotte, NC, transforms itself from a successful defeasance consulting company to a broader commercial real estate firm with several new business lines.
“The crippled commercial real estate market created opportunities for us to diversify our business beyond defeasance” says John Church, a principal with Waterstone Capital Advisors. “Waterstone Capital Advisors has expanded into the loan due diligence, REO asset management, and loan advisory businesses. In addition, lots of highly experienced commercial real estate professionals were displaced as a result of the downturn. We saw this as a great opportunity to assemble a strong team and use our collective skills to provide the broader services we now offer” Church continued.
Waterstone’s new business lines are off to a fast start and growing rapidly. The company has active businesses in loan portfolio due diligence consulting and REO asset management focusing on problem bank assets. The loan portfolio due diligence team includes both internal specialists and a nationwide network of highly experienced contractors in underwriting, loan servicing, and asset management. The REO asset management group is handling a growing portfolio of properties for third parties, responsible for maximizing resolution of the assets.
Waterstone is also integrating a state-of-the-art web based commercial loan servicing platform that manages any asset type with a cash flow component. The company is currently in the process of obtaining its special servicer rating for distressed and defaulted loans, which it hopes to receive by the end of the year.
“The economy has stressed all kinds of commercial real estate loan products including whole loans, CMBS, CDOs, participations, and construction loans, creating massive loan defaults. We believe lenders and special servicers will increasingly utilize loan sales as a preferred disposition strategy, which will create greater demand from investors for customized loan servicing solutions. Our platform will service these types of loans for investors, many of whom have extensive real estate operating experience but may not have the requisite loan servicing capabilities such as a system of record to administer the debt as the new lender” says Church.
About Waterstone Capital Advisors
Waterstone Capital Advisors is a real estate services firm specializing in performing and non-performing commercial real estate assets. Through leveraging its people, processes, and technology Waterstone delivers best in class service to its clients.
Contact:
Mike Schoenstein
704.926.6501
mschoenstein@waterstonecap.com