Bluerock Capital Markets LLC, a distributor of institutional alternative investment products and the dealer manager for Bluerock, reported a new monthly record equity raise of approximately $365 million in February. The company said that its trailing equity inflows annualize to more than $4.3 billion.
Bluerock’s flagship interval fund, Bluerock Total Income+ Real Estate Fund, posted nearly $336 million in new equity in February; up 21 percent from the prior record set in January 2022. Citing data from Robert A. Stanger & Co., Bluerock indicated that the fund has accumulated the highest capital inflows from the beginning of the COVID pandemic (April 2020) through January 2022 (most recent data) among all active interval funds within the direct investment industry.
Bluerock reported that the fund has paid 36 consecutive quarterly distributions during its nine-year history at a 5.25 percent annualized rate, providing $13.40 per share of cash flow with an average 63 percent of its distributions being tax-deferred since inception in October 2012 (Class A: TIPRX). Class A shares have reportedly generated a 9.06 percent annualized return since inception, a 5.51 percent year-to-date return, and a 25.57 percent trailing one-year return with a 1.8 percent annualized standard deviation since inception, all as of February 28, 2022.
“Bluerock TI+ Real Estate Fund’s exemplary recent and long-term performance continues to provide a rare combination of substantial tax-efficient income and growth with low volatility to our financial advisors and their clients at a time of high anxiety over inflation, rising rate concerns and valuation declines across the major equity and fixed income indices year-to-date,” said Jeffrey Schwaber, chief executive officer of Bluerock Capital Markets.
He added, “In that regard, after delivering a 21.61 percent return in 2021, Bluerock TI+ Fund [Class A, no load shares] has generated a positive 5.51 percent return for the first two months of 2022 versus a -8.01 percent for the S&P 500, -3.25 percent for the Bloomberg U.S. Aggregate Bond Index, and -12.01 percent for the NASDAQ Composite providing our investors with a portfolio enhancing 8.80 percent – 17.60 percent outperformance compared to these major indices. Further, we maintain our bullish outlook for institutional private equity real estate and in particular, Bluerock’s high conviction and overweight sectors.”
Bluerock also reported monthly equity inflows in February of $29 million for its 1031 exchange/DST programs through Bluerock Value Exchange. Bluerock has structured 1031 exchanges on approximately $2 billion in total property value and 11 million square feet of property. The platform hasranked within the top 10 in total annualized equity raise among 1031/DST sponsors within the direct investment industry over the past 15+ years, Bluerock said, citing Stanger data.
Bluerock is an alternative asset manager with more than $12 billion of acquired and managed assets.
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