Bluerock Capital Markets LLC, a distributor of alternative investment products and the dealer manager for Bluerock, reported another monthly record of equity capital inflows with more than $240 million in October.
The record-setting month eclipses September’s record by 22 percent and brings the year-to-date equity raise through October to $1.55 billion. Bluerock said that its trailing 3-month fund sales annualize to more than $2.35 billion, with “trending monthly upward momentum.”
The monthly raise was led by Bluerock’s closed-end interval fund, Bluerock Total Income+ Real Estate Fund, with nearly $184 million raised in October 2021, up 37 percent from the prior record set in September. Bluerock noted that the fund has maintained an approximate 20 percent market share year-to-date among all interval funds in the direct investments industry with approximately $1 billion raised year-to-date through October 2021, citing data published by Robert A. Stanger & Co.
The company reported that Bluerock Total Income+ Real Estate Fund posted a 19.21 percent total return to shareholders (Class I share: TIPWX) with a 1.6 percent standard deviation over the trailing 12 months, as of November 5, 2021.
“The Bluerock Total Income + Real Estate Fund just celebrated its 9-year anniversary, paid its 35th consecutive quarterly distribution at a 5.25 percent annualized rate, has generated positive returns in every year and boasts an 8.25 percent annualized net return since fund inception (Class A share: TIPRX) as of October 31, 21, thus generating more than 300 basis points of annual appreciation above the annual 5.25 percent distribution rate,” the company said.
In addition, the non-traded Series T preferred stock program of Bluerock Residential Growth REIT also reported a monthly record $50 million of new equity in October, up 16 percent from the previous record set in July. Bluerock Residential Growth REIT (NYSE: BRG) is a publicly traded real estate investment trust with $2.4 billion in assets and approximately 17,900 apartment units and holds a 47 percent market share of new investments into non-traded preferred stock within the direct investment industry, the company said.
“October represented a notable upsurge in new equity investment into our performance leading suite of institutionally structured funds,” said Jeffrey Schwaber, chief executive officer of Bluerock Capital Markets. “Our continuous pace of record monthly inflows and growth across our entire intermediary distribution complex is the culmination of a longstanding, experienced investment management firm consistently delivering on its stated investment objectives.”
Bluerock is an alternative asset manager with approximately $10 billion of acquired and managed assets. The company is headquartered in Manhattan with regional offices across the U.S.
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