CNSREIT-AR-2024 Final - Flipbook - Page 133
The following table details the upfront selling commissions, dealer manager fees, investment professional stockholder
servicing fees and dealer stockholder servicing fees for each applicable share class sold in the Offering. No upfront selling
commissions or dealer manager fees will be paid with respect to purchases of Class P Shares, Class I Share or Class F-I
share or shares of any class sold pursuant to the Company9s distribution reinvestment plan:
Selling commissions and dealer
manager fees (% of transaction price)
Stockholder servicing fee (% of
NAV)(1)
Class
F-S
Shares
up to
3.5%
Class FD
Shares
up to
1.5%
Class
F-I
Shares
Class P
Shares
4
Class FT
Shares
up to
3.5%
4
4
4
0.85%
0.85%
0.25%
4
4
Class T
Shares
up to
3.5%
Class S
Shares
up to
3.5%
Class D
Shares
up to
1.5%
Class I
Shares
0.85%
0.85%
0.25%
_________
(1)
Class T Share percentage consists of an investment professional stockholder servicing fee of 0.65% per annum and a
dealer stockholder servicing fee of 0.20% per annum.
The Company will cease paying the stockholder servicing fee with respect to any Class S share, Class F-S share, Class T
share, Class F-T share, Class D share or Class F-D share sold in the primary Offering at the end of the month in which the
total selling commissions, dealer manager fees and stockholder servicing fees paid with respect to such share would exceed
8.75% of the gross proceeds from the sale of such share. The Company will accrue the cost of the stockholder servicing fee
as an offering cost at the time each Class T, Class F-T, Class S, Class F-S, Class D and Class F-D share is sold during the
primary Offering. There will not be a stockholder servicing fee with respect to Class P, Class I or Class F-I shares.
Due to Affiliate
The following table details the Company9s expenses that are due to its Advisor or its affiliates ($ in thousands):
December 31,
2023(1)
2024
Organization and offering costs
Accrued performance participation allocation
Total
$
$
8,413 $
7
8,420 $
4
4
4
___________
(1)
The Company did not commence principal operations until January 11, 2024. As such, the organization and
offering costs were not recorded in the consolidated financial statements as of December 31, 2023 because such
costs were not the Company9s liability until the commencement of principal operations.
Organization and Offering Costs
The Advisor has agreed to advance all organization and offering expenses (including legal, accounting and other expenses
attributable to the Company9s organization, but excluding upfront selling commissions, dealer manager fees and
stockholder servicing fees) on behalf of the Company through the earlier of (i) December 31, 2025, or (ii) the month that
the Company9s aggregate NAV is at least $1.0 billion. The Company will reimburse the Advisor for all such advanced
expenses ratably over a 60-month period following such date.
The Advisor and its affiliates had incurred organization and offering expenses as of December 31, 2024 and December 31,
2023, of approximately $8.4 million and $7.0 million, respectively, on the Company9s behalf. The Company commenced
its operations on January 11, 2024. As such, organizational expenses are expensed as incurred and offering expenses are
charged to stockholders9 equity.
116
