Total gross offering proceeds of $6,042,049 fund the acquisition cost, closing fees, upfront reserves, and $654,205 in organizational, offering, and syndication expenses.
Total Fees & Expenses
$654,205
% of offering
10.83%
All-equity offering — load on equity equals load on offering price.
Where the offering proceeds go
Acquisition Cost$5.29M87.5%
Offering Expenses$654K10.8%
Reserves$100K1.7%
Total fees & expenses
$654K
10.83% of offering
Offering expenses
$654K
10.83% of offering
Reserves held
$100K
1.66% of offering
Cost of Acquisition
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Acquisition Fee | $101,000 | 1.67% | 1.67% |
| Title & Recording Costs | $136,844 | 2.26% | 2.26% |
| Reserves (Loan Proceeds) | $100,000 | 1.66% | 1.66% |
| Reserves (Lender Required) | $100,000 | 1.66% | 1.66% |
| Reserves (Master Tenant) | $100,000 | 1.66% | 1.66% |
| Reserves (Lumped) | $100,000 | 1.66% | 1.66% |
| Reserves (Improvements) | $100,000 | 1.66% | 1.66% |
| Finance Expenses | $1,031 | 0.02% | 0.02% |
| Total Acquisition Cost | $5,287,844 | 87.52% | 87.52% |
| Total Acq. Cost (Reserves) | $5,387,844 | 89.17% | 89.17% |
Offering Expenses
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Selling Commissions | $362,523 | 6.00% | 6.00% |
| Dealer Fee | $90,631 | 1.50% | 1.50% |
| Wholesaling Fee | $90,631 | 1.50% | 1.50% |
| BD Due Diligence Allowance | $60,420 | 1.00% | 1.00% |
| BD Marketing Allowance | $60,420 | 1.00% | 1.00% |
| O&O Expenses | $50,000 | 0.83% | 0.83% |
| Third Party DD | $136,844 | 2.26% | 2.26% |
| Total Offering Expenses | $654,205 | 10.83% | 10.83% |
| Total Fees / Expenses | $654,205 | 10.83% | 10.83% |
Strengths
- Clear breakdown of equity allocation
- Reserves funded directly from offering proceeds
Concerns
- Syndication and offering expenses total $654,205