Sponsor fees in a MFR deal

[Nainish Dalal]

I am looking at investing in a multi-family residential deal as a passive investor. The paperwork presented to me has the following fee structure for the promotors. Is this standard or am I getting fleeced here?

On Initial Purchase

Capital raise fee of 5%

Promoter fee of 2%

On Exit

Exit fee of 15% of sale amount

They do not plan to take any other fees in addition to these.

Thanks in advance