Need Real Small Time Mezz Fund
Hi guys. I'm trying to put a real small deal together for my own portfolio. $2.1MM deal, with $700k of equity lined up and senior debt commitment of $800k. Need an additional $600k. For timing purposes I think I need a debt fund to come in here. Does anyone know a mezz fund that would play in this small of a deal? Other ideas? Appreciate the help!
What industry? Makes a difference.
Deal is for a marina business.
Could you provide a little more background? Are you buying the marina business from the current owner? If so what (roughly) does it cash flow? You could structure an earnout or seller note. The seller could pocket $1.5mm and then have the other $600k put in a 5 year note collecting interest, which could serve as your 'mezz' piece. Just a thought.
Regards
Current owner is staying on. Trying to get some sweat equity for raising the capital. $1MM of debt outstanding today but the capital structure is a mess with seller notes and personal loans. Trying to clean it up so it can be bridged to bank debt next year. Anyone know someone who would play in this space?
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