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Exact same geographic region to attract from us nicely. A typical US Dawn mansion expenses about $25 million to create, and every mansion serves about 95 to 100 residents in about 80 models. We also develop bigger campus mansions and they consist of some impartial living units as well. Improvement costs vary of course, depending on land values and exactly where we are building. We just create our communities and ventures where typically our money companion will personal and make investments eighty% of the project, and we will invest and personal 20%. Usually, the tasks are financed with 25% fairness and the enterprise obtains a building loan for the other tiffany and co bracelet seventy five%. These days, simply because of the tightening of the credit score markets, we are actually modeling a 72.5% building loan and 27.five% equity. Dawn does not guarantee the principal of the debt and is secured by the communities and enterprise. So, for a $25 million project, about $7 million of fairness is invested and our 20% part of that will be about 1.four million. A typical venture that we are structuring these days will produce four various cash movement streams to Dawn. I will briefly review these. The initial are the expert charges that we tiffany and co rings receive for style, improvement, preopening sales and advertising, funding, licensing of the building and coaching. This is typically 7 to eight% of venture cost. The second money movement stream is the five to seven% revenue administration charge that we receive from the lengthy term, usually 30 year, management contract. If a neighborhood is operating above certain benchmarks, we are occasionally able to receive incentive administration fees as nicely. The third supply of money flow from tiffany jewellery every new community is the prorata share of money movement distributions following financial debt services that we obtain from our ownership proportion which is, as I mentioned previously, typically twenty%. And the fourth source of money movement is from recapitalizations. While a neighborhood is offered to an additional celebration or refinanced, we receive our prorata share of the distributions. In addition, we frequently get what we contact a promote. This was the extra quantity that we receive over our prorata share if the money partner's return exceeds a predetermined their predetermined threshold. It is important to be aware that in the occasion of the sale to an additional celebration, are our management remains nice as