Syndication compensation includes $20,602,794 in dealer fees and $10,210,750 in O&O expenses, resulting in an upfront fee to acquisition cost ratio of 9.15%.
Front-end fee composition
Dealer Fee$20.60M29.11%
Total front-end sponsor compensation$20,602,794 33.89% of acq. cost
Dealer Fee
$20,602,794
29.11%
Total Front-end Fees
$20,602,794
33.89%
Strengths
- Clearly disclosed upfront fee breakdown
- Established institutional dealer group distribution network
Concerns
- Upfront fees equal 9.15% of acquisition cost
- O&O expenses reach $10,210,750