The $13,161,798 capital raise allocates $10,750,000 to property purchase, $1,447,798 to offering and selling fees, and $474,000 to master tenant reserves.
Total Fees & Expenses
$1,447,798
% of offering
6.00%
All-equity offering — load on equity equals load on offering price. · $2,411,798 including reserves (18.32% of offering)
Where the offering proceeds go
Acquisition Cost$11.24M85.4%
Offering Expenses$1.45M11.0%
Reserves$474K3.6%
Total fees & expenses
$1.45M
6.00% of offering
Offering expenses
$1.45M
11.00% of offering
Reserves held
$474K
3.60% of offering
Cost of Acquisition
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Acquisition Fee | $0 | 0.00% | 0.00% |
| Title & Recording Costs | $100,000 | 0.76% | 0.76% |
| Reserves (Master Tenant) | $474,000 | 3.60% | 3.60% |
| Finance Expenses | $1,031 | 0.01% | 0.01% |
| Total Acquisition Cost | $11,240,000 | 85.40% | 85.40% |
| Total Acq. Cost (Reserves) | $11,714,000 | 89.00% | 89.00% |
Offering Expenses
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Selling Commissions | $789,708 | 6.00% | 6.00% |
| Dealer Fee | $263,236 | 2.00% | 2.00% |
| Wholesaling Fee | $197,427 | 1.50% | 1.50% |
| BD Due Diligence Allowance | $65,809 | 0.50% | 0.50% |
| BD Marketing Allowance | $131,618 | 1.00% | 1.00% |
| O&O Expenses | $0 | 0.00% | 0.00% |
| Third Party DD | $65,809 | 0.50% | 0.50% |
| Total Offering Expenses | $1,447,798 | 11.00% | 11.00% |
| Total Fees / Expenses | $1,447,798 | 11.00% | 11.00% |
| Total Upfront Fees (Reserves) | $2,411,798 | 18.32% | 18.32% |
Strengths
- Includes $474,000 in master tenant reserve funding
- $11,161,798 of equity already closed
Concerns
- Total upfront fees and expenses reach $1,447,798