Details sources of $8,586,240 in equity and $7,710,000 in debt allocated to acquisition, closing costs, and reserves.
Total Fees & Expenses
$601,037
% of equity
7.00%
% of offering
7.00%
Where the offering proceeds go
Acquisition Cost$14.54M89.3%
Offering Expenses$601K3.7%
Reserves$50K0.3%
Unallocated / other uses$1.10M6.8%
Total fees & expenses
$601K
7.00% of offering
Offering expenses
$601K
3.69% of offering
Reserves held
$50K
0.31% of offering
Cost of Acquisition
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Acquisition Fee | $254,424 | 2.96% | 1.56% |
| Title & Recording Costs | $276,445 | 3.22% | 1.70% |
| Reserves (Lender Required) | $50,000 | 0.58% | 0.31% |
| Reserves (Master Tenant) | $50,000 | 0.58% | 0.31% |
| Reserves (Lumped) | $50,000 | 0.58% | 0.31% |
| Reserves (Improvements) | $50,000 | 0.58% | 0.31% |
| Finance Expenses | $92,414 | 1.08% | 0.57% |
| Total Acquisition Cost | $14,544,504 | 169.39% | 89.25% |
| Total Acq. Cost (Reserves) | $16,296,240 | 189.79% | 100.00% |
Offering Expenses
| Item | Amount | % Equity | % Offering |
|---|---|---|---|
| Selling Commissions | $601,307 | 7.00% | 3.69% |
| Dealer Fee | $85,862 | 1.00% | 0.53% |
| O&O Expenses | $50,000 | 0.58% | 0.31% |
| Total Offering Expenses | $601,037 | 7.00% | 3.69% |
| Total Fees / Expenses | $601,037 | 7.00% | 3.69% |
Strengths
- $50,000 in reserve funding allocated
- Equity raise of $8,586,240 fully capitalized alongside $7,710,000 debt
Concerns
- Total offering expenses account for $601,037
- Title and recording costs total $276,445