Bluerock Total Income+ Real Estate Fund Secures $750 Million Line of Credit
Bluerock Total Income+ Real Estate Fund, a closed-end interval fund, announced that it has closed on a $750 million revolving line of credit with J.P. Morgan Chase Bank and RBC Capital Markets. J.P. Morgan is serving as lead lender for the new credit facility.
With approximately $4.6 billion in assets under management, the fund said it will use the new line of credit “to enhance the fund’s balance sheet and support treasury operations at an accretively lower cost of capital versus its previous non-bank credit facility.” The fund’s previous line of credit was retired as part of this transaction.
“The fund’s $750 million credit facility with J.P. Morgan and RBC at a competitive interest rate will translate to lower operating costs, and in turn, stronger net performance for our shareholders,” said Ramin Kamfar, founder and chief executive officer of Bluerock, the Fund’s sponsor.
The fund is one of the firm’s flagship investment solutions, according to Bluerock, offering individual investors access to a portfolio of institutional private real estate since becoming effective in October 2012. The fund is designed to provide a combination of current income, capital preservation, long-term capital appreciation, and enhanced portfolio diversification with low to moderate volatility and low correlation to the broader equity and fixed income markets.
“This [latest line of credit] transaction is a testament to the strength of [the fund] and Bluerock, with two leading global banking institutions committing to finance a substantial line of credit at highly attractive terms that will benefit [the fund’s] investors,” said Jeffrey Schwaber, CEO of Bluerock Capital Markets, the dealer manager for Bluerock.
The procurement of the fund’s new credit facility takes place during a period of significant growth for Bluerock. The firm acquired a minority stake in The Townsend Group in May 2024, as part of a partnership aimed at opening the door to new product development opportunities and leveraging Bluerock’s distribution platform to deliver Townsend’s investment capabilities to the private wealth channel. And in September, Bluerock hired Michael McGrath to serve as executive vice president and head of product.
The Bluerock Total Income+ Real Estate Fund maintains an advisory partnership with Mercer Investment Management Inc.
Bluerock is an alternative asset manager based in New York and with offices across the nation. Bluerock has more than $18.7 billion in acquired/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.
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