Total acquisition cost is $67,518,463 ($72,401,960 with reserves) against a total offering price of $75,480,000. Syndication expenses include $3,078,040 in front-end offering costs and $1,187,795 in finance expenses.
Valuation ladder
Acquisition price$75.48M
Offering price$75.48M+0.0%
Cap rate spread & load
Syndicated cap rate5.00%
Upfront load on offering4.08%
Load on equity7.20%
Acquisition Price
$75,480,000
Offering Price
$75,480,000
Appraised Value
—
Upfront Load
—
Load on Equity
—
Load on Offering Price
—
Acquisition Cap Rate
—
Syndicated Cap Rate
5%
Premium / Discount
—
Appraisal / Offering %
—
Less Reserves %
—
Strengths
- Capitalization includes dedicated reserve allocation
Concerns
- $3,078,040 in front-end offering expenses and fees