Fee Amounts REF Final

Acquisition Fee

1-2% @ closing, based off purchase price, due @ closing

Financing Fee

0.25-1% based on loan amount, due at refi

Developer’s Fee

3-5%, based on hard and soft costs, payment timing varies

Disposition Fee

0.5-2%, based on sales price, due at sale

Asset Management Fee

0.5-2%, based on equity, due at eoy

Accounting Fee

nominal fee, paid annually, amount varies, due at eoy

G&A Fee

nominal fee, paid annually, amount varies, due at eoy

Placement Fee

1.5-5%, placed on equity found by placement agent, one-time fee paid when capital is funded

Fund Administration Fee

0.15-1%, fund admin controls cash in and out of accounts and ensures money is used correctly, based on $under management, due at eoy