Mezzanine financing is a form of debt positioned between senior debt (the first mortgage) and equity in a deal's capital structure.
Log in to followSmall one, and I mostly want to write down how it went because everything I read about mezz before this was written for people moving ten times the money. A sponsor I'd co-investe…
Dead deal, 84 units, and the money is gone. Writing it down while the sequence is still clear. Purchase price $9.4m. First quote from the senior lender was 65% of cost, so $6.1m,…
I put $90k into a $3.2m mezzanine tranche on a 112-unit workforce apartment deal, expecting a 36 month hold. The sponsor sold at month 14 and I got paid $27k on top of my principa…
$2.5m into a $6.5m mezz tranche, recovered $560k in month 31. The sequence matters more than the number, because the place I got it wrong was not where I expected. Deal shape: 190…
Writing this out because I'd have wanted to read it two years ago. A sponsor I'd met through the management side raised a $2.6M mezz piece behind a $7.9M senior on a 60 unit value…
Got taken out at par plus exit fee last month on a mezz participation I put $125k into 22 months ago. Writing up the part that nearly killed it, because it wasn't in the mezz docu…