Evaluating Shopping plaza Syndication Offering

[Sam Ng]

I am looking into a commercial plaza syndication deals. It is an acquisition from existing owner. all retail outlets are leased out for next 4-5 years. 

Wanted to pass thru you guys to get your opinion on this.

Details of Offering :

3% Acquisition fee (one time)

1% Asset Management (Annual)

Returns Split for Preferred return and disposition = 80%/20% (Investor/Sponsor)

5 year hold period

IRR: 15%

Average Annual return = 10% per annum

Average CoC return = 2.36

is the acquistion fee and sale return split  usual in the syndication world ?  anything out-of-norm from above terms ?