Bluerock Capital Markets LLC, a distributor of alternative investment products and the dealer manager for Bluerock Real Estate, has reported a record-setting month of new equity capital inflows of more than $192 million during the month of July, up 13 percent from the prior record set in June 2021. Thus far in 2021, Bluerock reported equity inflows in excess of $1 billion.
Bluerock Total Income+ Real Estate Fund, a closed-end interval fund, raised more than $128 million in new equity in July 2021, up 21 percent from the prior record set in June 2021. The fund’s market share of all direct industry capital placed into closed-end interval funds was 18 percent year-to-date through June 2021 with total new capital of more than $580 million, the company said, citing data published by Robert A. Stanger & Co.
The fund invests the majority of its assets in institutional private equity real estate securities, including investments managed by Ares, Blackstone, Morgan Stanley, Principal, PGIM, Clarion Partners, Invesco and RREEF, among others.
The company reported that Bluerock Total Income+ Real Estate Fund delivered a 13 percent net return to shareholders (Class I share: TIPWX) from the trough of the pandemic in September 2020 through July 31, 2021, with a 95 percent up period percent (i.e., daily returns positive to neutral) over the same period.
In addition, the non-traded Series T preferred stock program of Bluerock Residential Growth REIT raised $42 million during July, reporting a 49 percent market share of new investments into non-traded preferred stock within the direct investment industry. 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.
Bluerock’s 1031/Delaware statutory exchange platform, Bluerock Value Exchange, reported new capital inflows of more than $20 million during July and more than $100 million in sales year-to-date.
Bluerock is an alternative asset manager with approximately $9.7 billion of acquired and managed assets headquartered in Manhattan with regional offices across the U.S.