Can someone give me a rundown on mezz debt?
1) What term will mezz lenders do?
2) Is it always interest only or do they also amortize in some circumstances?
3) Are there ever holdbacks in the loan? Is it always fully funded upfront? What if it is for construction?
4) What total DSCR, LTV, LTC, and DY are mezz lenders typically ok with?
EDIT: 5) Is it typically floating rate or fixed rate? Or is it closer to 50/50 and completely dependent on the deal?