Mezzanine loans are debt transactions in which the lender's collateral is in the form of the mezzanine borrower's ownership interests in other entities that own income-producing property. Preferred equity transactions are structured as equity investments in an entity that owns real property. These ...
Alternatively, the lender may take a preferred equity position, which is entitled to distributions of excess cash flow after debt service, ahead of the borrower's principals. A "combination" loan structure may also be used to combine a first mortgage loan with mezzanine financing at an aggregate...
Mezzanine Loan Docs Sometimes if Senior Lender and Mezzanine Lender are the sameinstitution, the basic form of loan documents is the same, except for modifications that are particular to each level of debt. Covenants against modifying senior loan documents, etc. Pledge Agreement UCC Insurance Policy...
Mezzanine debt is used by businesses that are unable to raise secured lending from their bank, frequently due to a lack of collateral, but do not want to, or cannot, raise equity. Home-grown backing "Mezzanine debt will be very attractive to real estate developers, with the scarcity of fun...
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real estate investmentMezzanine loans and preferred equity interests are both forms of investment in commercial properties; they are favored by investors, particularly institutionaldoi:10.1007/s12663-011-0277-yHeller, J. DeanSocial Science Electronic Publishing...
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Mezzanine debts can be secured or unsecured. Those used in real estate are often indirectly secured to some extent by the borrower’s real estate interests. It can be said that in corporate mezzanine financing, the debt is secured by the borrower’s ownership interest in the company, but beca...
the quality and enforceability of the equity pledge becomes more important to mezzanine lenders.The use of the equity pledge as collateral is an important feature of mezzanine lending to developers and owners of real estate projects.The collateral for mezzanine \1nancing,being a hybrid of debt ...