Gross offering equity of $115,869,677 is deployed toward the $96,750,000 purchase price, $5,686,280 in reserves, and $9,733,053 in upfront fees and offering costs.
Total Fees & Expenses
$9,733,053
% of offering
0.00%
All-equity offering — load on equity equals load on offering price.
Where the offering proceeds go
Acquisition Cost$97.55M84.2%
Offering Expenses$9.73M8.4%
Reserves$5.69M4.9%
Unallocated / other uses$2.90M2.5%
Total fees & expenses
$9.73M
0.00% of offering
Offering expenses
$9.73M
8.40% of offering
Reserves held
$5.69M
4.91% of offering
Cost of Acquisition
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Acquisition Fee | $2,896,742 | 2.50% | 2.50% |
| Title & Recording Costs | $29,660 | 0.03% | 0.03% |
| Reserves (Loan Proceeds) | $5,686,280 | 4.91% | 4.91% |
| Reserves (Master Tenant) | $5,686,280 | 4.91% | 4.91% |
| Reserves (Lumped) | $5,686,280 | 4.91% | 4.91% |
| Reserves (Improvements) | $5,686,280 | 4.91% | 4.91% |
| Finance Expenses | $1,031 | 0.00% | 0.00% |
| Total Acquisition Cost | $97,553,602 | 84.19% | 84.19% |
| Total Acq. Cost (Reserves) | $106,136,624 | 91.60% | 91.60% |
Offering Expenses
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Dealer Fee | $1,448,371 | 1.25% | 1.25% |
| Placement Agent Fee | $1,911,850 | 1.65% | 1.65% |
| O&O Expenses | $579,348 | 0.50% | 0.50% |
| Third Party DD | $271,567 | 0.23% | 0.23% |
| Total Offering Expenses | $9,733,053 | 8.40% | 8.40% |
| Total Fees / Expenses | $9,733,053 | 8.40% | 8.40% |
| Total Upfront Fees (Reserves) | $9,733,053 | 8.40% | 8.40% |
Strengths
- $5,686,280 fully funded reserve allocation
Concerns
- $9,733,053 in total front-end fees and offering expenses