Bluerock Real Estate

Bluerock is a leading institutional alternative asset manager based in New York with regional offices across the U.S. Bluerock executive team members have an average of 30 years of investing experience, have over $48 billion in real estate transaction experience, and have helped launch multiple leading real estate private and public company platforms. Bluerock’s experience includes more than $8.8 billion of acquired and managed assets and offers a complementary suite of public and private investment programs, with both short and long-term goals, to individual investors seeking solutions aimed at providing predictable income, capital growth, and tax benefits.

Performance

Bluerock Residential Growth REIT’s net income attributable to common stockholders for the first quarter of 2021 was $23.6 million or $1.00 per diluted share, as compared to net loss attributable to common stockholders of ($16.5) million or ($0.70) per diluted share in the prior year period.

Operational

Bluerock Residenital Growth REIT completed 72 value-add unit upgrades during the first quarter of 2021, achieving an average 24.3% ROI. Since inception, the Company has completed 3,027 value-add unit upgrades at an average cost of $5,953 per unit and achieved an average monthly rental rate increase of $117 per unit, equating to an average 23.6% ROI on all unit upgrades leased as of March 31, 2021.  The Company has identified approximately 4,349 remaining units within the existing portfolio for value-add upgrades with similar projected economics to the completed renovations.

Capital Raise

During the first quarter, Bluerock Residential Growth REIT raised gross proceeds of approximately $98.0 million through the issuance of 3.9 million shares of Series T Preferred Stock at $25.00 per share. The Company repurchased 3,557,562 shares of Class A Common Stock during the first quarter at an average price of $11.45 per share and increased its repurchase program up to an aggregate $150 million.

Management Team

R. Ramin Kamfar

Founder and Chief Executive Officer

James G. Babb, III

Chief Investment Officer

Jordan B. Ruddy

Chief Operating Officer

Simon Adamiyatt

Executive Director, Chief Financial Officer

Michael Konig, Esq.

Chief Legal Officer

Ryan S. MacDonald

Chief Acquisitions Officer

Adam Lotterman

Co-Chief Investment Officer and Senior Portfolio Manager (Bluerock Total Income+ Real Estate Fund)

Joshua M. Hoffman

Managing Director, President (Bluerock Value Exchange)

Chris Vohs

Chief Financial Officer (Bluerock Residential Growth REIT)

Michael DiFranco

Executive Vice President, Property Operations (Bluerock Residential Growth REIT)

Jeffrey S. Schwaber

Chief Executive Officer (Bluerock Capital Markets)

Paul Dunn

Executive Vice President (Bluerock Capital Markets)

Jason Emala

General Counsel (Bluerock Capital Markets)

NONTRADED REITS

Bluerock Residential Growth REIT, Inc.

INTERVAL FUNDS

Bluerock Total Income+ Real Estate Fund

PRIVATE OFFERINGS

Information about Private Offerings is available in the Blue Vault Database (for financial professionals only).

NONTRADED PREFERRED SHARES

Bluerock Residential Growth REIT, Inc. – Series B Preferred Shares and Warrants
Bluerock Residential Growth REIT, Inc. – Series T Redeemable Preferred Stock

Bluerock Real Estate
Corporate Office
1345 Avenue of the Americas, 32nd Floor
New York, NY 10105

Phone Number
212-843-1601

 

Want to learn more about this investment manager?

 

Subscribers may view the sponsor’s Profile Page in the Blue Vault Database.

 

For information about becoming a subscriber, click here.

 

 

For Financial Professional Use Only. Not for Retail Clients.