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Acquisition Fee Calculator

Sponsors earn an acquisition fee at closing for sourcing, underwriting, and closing a deal. The fee basis (price, equity, or total cost) dramatically changes how much the LP actually pays. This calculator switches basis and shows the fee as a percentage of each reference point for apples-to-apples comparison.

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Acquisition fee payable

$150,000

Fee calculation base

$10,000,000

Fee as % of purchase price

1.50%

Fee as % of equity raised

4.29%

How the math works

Acquisition fees compensate the GP for sourcing, underwriting, and closing a deal. Typical structures: 1-2% of purchase price on institutional JVs, 2-3% on retail syndications. Fee basis (price vs equity vs total cost) matters — 2% of equity is roughly 7-8x the dollar amount of 2% of price.

Institutional LPs push back on equity-based fees because they scale with leverage. Price-based fees cap exposure. Always confirm the basis in the fee letter before signing.

How to Use

  1. Enter purchase price.
  2. Pick the fee basis — price, equity, or total cost.
  3. Enter the rate (typical 1-3%).
  4. Enter equity raised and total project cost.
  5. Read the fee payable and cross-reference percentages.

Frequently Asked Questions

Price vs equity basis — how different?

A 10M deal with 3.5M equity. 1.5% of price = $150K. 1.5% of equity = $52.5K. Same rate, 3x different fee. This is why basis matters.

Is the fee deducted from equity?

Yes — it's paid at closing from the equity the LPs wired in. It reduces investable capital on day one, which means the LP invests $10M but only $9.85M hits the property.

Tax treatment?

Acquisition fee is typically capitalized into the asset's basis (not immediately deducted). Sponsor treats it as ordinary income.

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