In addition to the annual payment of either the Market Rate Fee or the Cost-Plus Fee, CAM is also entitled on an annual basis to receive certain supplemental fees, as detailed for the respective asset management agreements in the following table: | | | | | | | | | | | Description | 2022 AMA | | | Incentive Fee | When receiving Market Rate Fee: On a mark-to-market basis, equal to 20% of the imputed profit of certain real estate assets comprising the Anchor Portfolio for which a Triggering Event(1) has occurred, after calculating a compounding preferred return of 8% on CP invested capital (the “Market Incentive Fee”)
When receiving the Cost-Plus Fee: On a mark-to-market basis, an incentive fee equal to 10% of the imputed profit of certain real estate assets comprising the Anchor Portfolio for which a Triggering Event1 has occurred, after calculating a compounding preferred return of 8% on CP invested capital (the “Base Incentive Fee”) | | | Investment Origination Fee | 1% of raised capital | | | Leasing Fee | $1/per sqft. for new leases and $0.50/per sqft. for lease renewals | | | Lease Termination Fee | 3.5% of the gross early lease termination fee paid by a commercial tenant | | | Loan Origination Fee | 1% of any financing transaction or other commercially reasonable and mutually agreed upon fee | | | | | | | | | | (1) | Triggering events for managed assets that have yet to earn incentive fees are tied to specific events such as transactions (sale/refinance), stabilization metrics (% leased), or a milestone date, as determined by the Company and with explicit consent from CP. |
|