GlobeSt.com: Why all the interest in mezzaninedebt by investors and lenders now?

Webb: A lot of the old equity investors haveshifted to mezzanine because the returns are pretty good – 18% --and it is still not as high up in the capital stack.

GlobeSt.com: What does this mean for deals? I knowcredit is all but frozen, but if there is a shift to mezzanineamong the few lenders that are active, how is that affecting equityor senior debt, for instance?

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Erika Morphy

Erika Morphy has been writing about commercial real estate at GlobeSt.com for more than ten years, covering the capital markets, the Mid-Atlantic region and national topics. She's a nerd so favorite examples of the former include accounting standards, Basel III and what Congress is brewing.