How are Closing Costs / Attorney Fees covered?

[Eli Shicker]

Hi,

When syndicating an apartment building, who typically covers the attorney fees and closing costs?  Does the syndicator or is that a fee paid out by the investors?

Thanks.

Eli

[Andrew Freed]

@Eli Shicker - Every syndication is different, but usually that is encompassed in the total capital needed to close and that is raised from the investors. If the GP fronts the funds, they are typically reimbursed. But like I said, syndications are handled in many different ways so it could differ depending on the structure.