Sponsor compensation includes a $5,150,000 acquisition fee, a $200,000 annual asset management fee, and a 1.0% disposition fee. Intermediary fees include a $1,689,750 dealer fee and a $1,126,500 BD due diligence allowance.
Front-end fee composition
Acquisition Fee$5.15M4.57%
Dealer Fee$1.69M1.50%
Total front-end sponsor compensation$9,209,502 3.90% of acq. cost
Acquisition Fee
$5,150,000
4.57%
Dealer Fee
$1,689,750
1.50%
Total Front-end Fees
$9,209,502
3.90%
Strengths
- Annual asset management fee is structured at a fixed $200,000.
Concerns
- Sponsor collects a $5,150,000 upfront acquisition fee.
- Total front-end offering expenses reach $9,209,502.