Bluerock Capital Markets (BCM) announced today that after reporting back-to-back months of record equity capital raise by its sponsored investment programs of $79 million in November and $81 million in December, with record full-year sales in 2018 of $766 million (up 27% from 2017), equity inflows surged 50% in January to nearly $120 million. This total is significant when compared to the total January nontraded REIT capital raise of an estimated $400 million by 24 active programs as reported by Blue Vault.
Based on industry data, BCM’s 2018 sales through independent broker dealers rank among the top three in a crowded sponsor field, including the recent entrance of several high-profile institutional alternative sponsors.
“Our well-documented ascension among the top capital raising sponsors in the industry is clear corroboration that broker dealers and investment advisors believe Bluerock is providing products and solutions that fit with today’s investor needs and more importantly that we have an established track record of consistently delivering on our stated investment objectives during a very volatile period”, said Jeffrey S. Schwaber, CEO of Bluerock Capital Markets.
Related: FIRST PERSON: Jeffrey Schwaber of Bluerock
According to the February 12 press release, BCM’s record equity capital raise in January resulted from robust equity raises across all three of its distinct product lines, which include:
-Bluerock Total Income+ Real Estate Fund (NASDAQ: TIPRX, TIPPX, TIPWX, TIPLX), a non-diversified closed-end interval fund, that provides individual investors with access to private, institutional real estate securities, enabling them to invest alongside large pensions and endowments without the high minimums;
-Bluerock Residential Growth REIT Series B Preferred Stock, designed to deliver stability of current income and pricing plus potential capital appreciation with investments in the multifamily sector; and
-Bluerock Value Exchange 1031 like-kind exchanges that seeks to provide investors with tax deferral, current income and potential capital appreciation in Premier Exchange Properties™.
According to Blue Vault, Bluerock’s interval fund, Total Income+ Real Estate Fund, raised an estimated $543.8 million in 2018 and $97.2 million in January 2019. Bluerock Residential Growth REIT raised an estimated $123.7 million through sales of non-listed preferred equity in 2018 and $19.3 million in January 2019.
For more information on Bluerock Capital Markets and related companies, see www.bluerockre.com.
Source: Bluerock Capital Markets, Blue Vault
