8.1 Fee Structure

Fee Type	Rate (Indicative)	Timing
Origination / Structuring Fee	1.5% – 2.0% of asset value	At issuance
Asset Management Fee	0.8% – 1.5% of NAV per annum	Quarterly
Performance Fee	10% – 15% of returns above hurdle rate	On exit / distribution
Secondary Trading Fee	0.5% – 1.0% of transaction value	Per trade
KYC / Onboarding Fee	One-time per investor (platform-level)	At registration

8.2 Investor Distribution Waterfall

Gross rental income collected by SPV

Less: property management fees, insurance, maintenance reserve, and operating expenses

Less: platform asset management fee

Less: local taxes and withholding (jurisdiction-specific)

Net distributable income → allocated pro-rata to $AET token holders

Capital appreciation realized on asset disposal → distributed after SPV wind-down costs and performance fee

Note

Indicative net distribution yield: 4% – 8% per annum depending on asset class and market, before investor-side taxes.