The firm charges an annual asset management fee, paid quarterly. For Mesirow Financial Real Estate Value Fund III, L.P. and IV, L.P., the fee is based on the greater of 1.1% of committed capital or 1.5% of invested capital during the investment period, and then 1.5% of invested capital thereafter, subject to the basic fee structure. The minimum investment is $5 million, but the General Partner has the discretion to accept investments from qualified investors below this amount. Fees may be negotiable on a client-by-client basis.