Total upfront offering fees and expenses amount to $4,710,763, including a $755,737 dealer fee, $821,631 in third-party DD, and $1,259,562 in BD allowances. Asset management fees are deferred in Years 1-2 to Years 9-10; selling commissions are not disclosed.
Front-end fee composition
Dealer Fee$0.76M1.50%
Total front-end sponsor compensation$4,710,763 11.30% of acq. cost
Dealer Fee
$755,737
1.50%
Total Front-end Fees
$4,710,763
11.30%
Strengths
- Asset management fees deferred in Years 1 and 2 to align sponsor with early cash distributions.
Concerns
- Selling commission figures are not disclosed in the provided materials.