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Mezzanine Loans

Ocean Capital Lending, LLC has the ability to provide floating rate mezzanine programs for either “value-added” or stabilized commercial real estate properties. This type of loan can fill the gap between senior debt and equity often times allowing the sponsor to retain a majority of the profits because it is often times cheaper than equity. It can also unlock equity that is illiquid or even pay off more expensive capital sources. These loans are often called junior mortgages or b-notes. They can range in loan amounts and can be from 2 to 7 year terms. Often times 90% LTV or LTC can be achieved with a DSCR of 1.0 with interest only payments and below 1.0 can be with interest reserves.

 

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