CapLease's mezzanine loan program provides borrowers with incremental capital in excess of existing first mortgage loans, filling the gap that otherwise would require raising higher-cost equity and/or a dilution in ownership.

Security for our mezzanine loans may take the form of second mortgages or an assignment of partnership or LLC interests, depending on the documentation of the existing first lien holder.

CapLease mezzanine loans generally range from $1,000,000 to $25,000,000 and are typically fixed rate (but may be floating rate).