Bluerock Total Income+ Real Estate Fund, one of the largest real estate interval funds in the world (“TI+,” tickers: TIPRX, TIPPX, TIPWX, TIPLX, TIPMX) has paid a second quarter distribution of $0.3369 per share, or 1.3125% for the quarter, based on the share price of $25.67 (A-shares) for shareholders of record as of June 17, 2025, marking the Fund’s 50th consecutive quarterly distribution. This distribution amount represents a tax-equivalent rate of 7.99% due to the tax-efficient nature of its distributions and an annualized rate of 5.25%1 based on the current share price. Since inception in 2012 at $25 NAV per share, TIPRX has paid its shareholders approximately $19.21 per share in total distributions. This represents over 75% return on the Fund’s initial shareholders’ principal investment before taking into account compounding or appreciation related to distribution reinvestment.
“We are excited for TI+ to reach the 50th consecutive quarterly distribution mark, reflecting long term consistent, tax efficient income for Fund shareholders,” said Jeffrey Schwaber, CEO of Bluerock Capital Markets. “Further, Bluerock manages TI+ with the goal of coupling quarterly distributions with growth and appreciation for attractive total returns. We believe the recent and extended market downturn associated with higher interest rates presents an attractive investment opportunity enhanced by the Fund’s allocation to our highest growth conviction sectors.”
Since inception, TI+ has delivered on its stated objectives, including generating current income and capital appreciation as well as maintaining low correlation and low volatility relative to the broader markets.
Net assets under management for TI+ are approximately $3.9 billion as of June 17, 2025. TI+ currently maintains positions in 31 private equity and 6 private debt real estate investments, with underlying assets valued at approximately $343 billion (holdings are subject to change at any time and should not be considered investment advice).2
(Actual distribution rate was 5.25% annualized for the most recent period. As of the most recent Section 19a notice, the amount of distribution attributable to return of capital (ROC) was 100%)
For detailed Fund holdings, please visit bluerock.com/ti-fund/investment-holdings
TI+ Fund A-Share & I-Share Net Performance
|
Performance Through 3.31.2025 |
||||
|
One Year |
Five Year |
Ten Year |
Annualized Since |
|
|
TI+ Fund Class A |
-2.88 % |
2.08 % |
4.41 % |
5.47 % |
|
TI+ Fund Class A with |
-8.46 % |
0.88 % |
3.79 % |
4.97 % |
|
TI+ Fund Class I |
-2.66 % |
2.33 % |
4.67 % |
5.03 % |
Returns presented are total net return: Expressed in percentage terms, the calculation of total return is determined by taking the change in price, reinvesting, if applicable, all income and capital gains distributions during the period, and dividing by the starting price. Returns greater than one year are annualized.
2 For detailed Fund holdings, please visit bluerock.com/ti-fund/investment-holdings
3 Inception date of the Fund is October 22, 2012
4 The maximum sales charge for the Class A shares is 5.75%. Investors may be eligible for a waiver or a reduction in the sales charge.
The total annual fund operating expense ratio, gross of any fee waivers or expense reimbursements, is 3.34% for Class A, 4.07% for Class C, 3.10% for Class I, 3.61% for Class L, and 3.82% for Class M. The Fund’s investment advisor has contractually agreed to reduce its fees and/or absorb expenses of the fund, at least until January 31, 2026 for Class A, C, I, L and M shares, to ensure that the net annual fund operating expenses will not exceed 1.95% for Class A, 2.70% for Class C and 1.70% for Class I, 2.20% for Class L and 2.45% for Class M, per annum of the Fund’s average daily net assets attributable to Class A, Class C, Class I, Class L, and Class M shares, respectively, subject to possible recoupment from the Fund in future years. Please review the Fund’s Prospectus for more detail on the expense waiver. A fund’s performance, especially for very short periods of time, should not be the sole factor in making your investment decisions. Fund performance and distributions are presented net of fees.
About Bluerock Total Income+ Real Estate Fund
The Bluerock Total Income+ Real Estate Fund offers individual investors access to a portfolio of institutional real estate securities managed by top-ranked fund managers. The Fund seeks to provide a comprehensive real estate holding designed to provide a combination of current income, capital preservation, long-term capital appreciation and enhanced portfolio diversification with low to moderate volatility and low correlation to the broader equity and fixed income markets. The Fund utilizes an exclusive partnership with Mercer Investment Management, Inc., the world’s leading advisor to endowments, pension funds, sovereign wealth funds and family offices globally, with over 16,000 clients worldwide, and over $16.45 trillion in assets under advisement.
The Bluerock Total Income+ Real Estate Fund is a closed-end interval fund that invests the majority of its assets in institutional private equity real estate securities that are generally available only to institutional investors capable of meeting the multi-million dollar minimum investment criteria. As of Q1 2025, the value of the underlying real estate held by the securities in which the Fund is invested is approximately $343 billion, including investments managed by Ares, Blackstone, Morgan Stanley, Prudential, Clarion Partners, Invesco and RREEF, among others. The minimum investment in the Fund is $2,500 ($1,000 for retirement plans) for Class A, C, and L shares and $1,000,000 for Class I shares, subject to waiver.
For copies of TI+ public company filings, please visit the U.S. Securities and Exchange Commission’s website at sec.gov or the Company’s website at bluerockfunds.com.
Investing in the Bluerock Total Income+ Real Estate Fund involves risks, including the loss of principal. The Fund intends to make investments in multiple real estate securities that may subject the Fund to additional fees and expenses, including management and performance fees, which could negatively affect returns and could expose the Fund to additional risk, including lack of control, as further described in the prospectus.
Limited liquidity is provided to shareholders only through the Fund’s quarterly repurchase offers for no less than 5% of the Fund’s shares outstanding at net asset value. The Fund’s shares have no history of public trading, nor is it intended that they will be listed on a public exchange at this time. No secondary market is expected to develop for the Fund’s shares, liquidity for the Fund’s shares will be provided only through quarterly repurchase offers for no less than 5% of the Fund’s shares and there is no guarantee that an investor will be able to sell all the shares that the investor desires to sell in the repurchase offer. Since inception, the Fund has made 49 repurchase offers, 36 have resulted in the repurchase of all shares, and 13 have resulted in the repurchase of less than all shares tendered. In connection with the February 2025 repurchase offer, the Fund repurchased 19.97% of all shares tendered. Quarterly repurchases by the Fund of its shares typically will be funded from available cash or sales of portfolio securities. The sale of securities to fund repurchases could reduce the market price of those securities, which in turn would reduce the Fund’s net asset value.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Bluerock Total Income+ Real Estate Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained online at bluerockfunds.com. The prospectus should be read carefully before investing.
The Bluerock Total Income+ Real Estate Fund is distributed by ALPS Distributors, Inc (ALPS). Bluerock Fund Advisor, LLC is not affiliated with ALPS.
