The $13,988,903 offering equity is paired with loan proceeds toward the $25,273,068 total capitalization. Front-end fees, reserves, and closing costs are funded out of gross proceeds.
Total Fees & Expenses
$1,468,835
% of offering
10.50%
All-equity offering — load on equity equals load on offering price.
Where the offering proceeds go
Acquisition Cost$25.27M180.7%
Offering Expenses$1.47M10.5%
Reserves$425K3.0%
Total fees & expenses
$1.47M
10.50% of offering
Offering expenses
$1.47M
10.50% of offering
Reserves held
$425K
3.04% of offering
Cost of Acquisition
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Title & Recording Costs | $133,580 | 0.95% | 0.95% |
| Reserves (Master Tenant) | $425,000 | 3.04% | 3.04% |
| Finance Expenses | $540,000 | 3.86% | 3.86% |
| Total Acquisition Cost | $25,273,068 | 180.67% | 180.67% |
| Total Acq. Cost (Reserves) | $25,273,068 | 180.67% | 180.67% |
Offering Expenses
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Dealer Fee | $139,889 | 1.00% | 1.00% |
| Placement Agent Fee | $13,988,903 | 100.00% | 100.00% |
| Wholesaling Fee | $279,778 | 2.00% | 2.00% |
| O&O Expenses | $69,945 | 0.50% | 0.50% |
| Total Offering Expenses | $1,468,835 | 10.50% | 10.50% |
Strengths
- Fully accounts for reserves and transaction costs within total capitalization.
Concerns
- Front-end offering expenses total $1,468,835.