Proceeds of $25,700,000 are allocated to property acquisition ($20,752,750), front-end fees ($2,441,500), and related syndication costs.
Total Fees & Expenses
$2,441,500
% of offering
10.00%
All-equity offering — load on equity equals load on offering price.
Where the offering proceeds go
Net to Property$20.75M80.8%
Offering Expenses$2.44M9.5%
Unallocated / other uses$2.51M9.8%
Total fees & expenses
$2.44M
10.00% of offering
Offering expenses
$2.44M
9.50% of offering
Reserves held
—
— of offering
Cost of Acquisition
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Acquisition Fee | $732,450 | 3.00% | 2.85% |
Offering Expenses
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Selling Commissions | $1,464,900 | 6.00% | 5.70% |
| Dealer Fee | $488,300 | 2.00% | 1.90% |
| O&O Expenses | $488,300 | 2.00% | 1.90% |
| Total Offering Expenses | $2,441,500 | 10.00% | 9.50% |
Strengths
- Clear allocation of $25,700,000 in equity proceeds
- Acquisition accounts for 80.75% of total gross proceeds
Concerns
- Syndication and offering expenses absorb $2,441,500 of proceeds
- Offering load is 10% on equity