Bluerock Total Income+ Real Estate Fund Pays $1 Billion in Total Distributions
Bluerock Total Income+ Real Estate Fund, a closed-end interval fund, announced it has paid total distributions to shareholders exceeding $1 billion since its inception in 2012.
The fund also recently paid its 42nd consecutive quarterly distribution. As a closed-end interval fund, the company says TI+ Fund pays a quarterly distribution corresponding to the fund’s net asset value at the annualized rate of 5.25% based on the current share price. Since the fund’s introduction in 2012 at a $25 NAV per share, TIPRX has paid approximately $16.27 per share in total distributions to its shareholders, with a 65% average annual tax deferral on those distributions.
In addition to these quarterly distributions, Bluerock says TIPRX NAV has grown over 30% from $25.00 to $32.67 per share as of June 30, 2023, generating a 7.82% annualized return since inception and has delivered a positive total return every calendar year since inception including an approximate 10% return in 2022 when many equity and fixed income indexes incurred sizeable drawdowns.
“Delivering over $1 billion in total distributions to its shareholders over 10 years and 42 consecutive quarterly distributions is a major milestone and is validation of the structure and investment strategy of the TI+ Fund,” said Jeffrey Schwaber, chief executive officer of Bluerock Capital Markets.
“Since inception, TI+ Fund has been through multiple market cycles, a pandemic, a recession, and a sizable interest rate hike cycle and yet the underlying institutional private real estate asset class has proven resilient, and the Fund has been able to be a consistent producer of attractive, tax-efficient income and total returns to its shareholders. We remain bullish on the outlook for outsized rental rate and NOI growth in the fund’s high conviction overweight sectors which we believe will lead to a robust market rebound and the ability for the fund to continue to generate attractive income and total returns,” added Schwaber.
Net assets under management for TI+ are approximately $6.3 billion as of June 30, 2023. TI+ currently maintains positions in 34 private equity and four private debt real estate investments, with underlying assets valued at approximately $389 billion.
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. It has more than 3,300 clients worldwide, and over $16.8 trillion in assets under advisement.
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