Connect with us

Real Estate News

Bluerock Total Income+ Real Estate Fund Announces 34th Consecutive Quarterly Distribution at a 5.25% Annualized Rate

Published

on

NEW YORK, June 18, 2021 / PRNewswire / – Bluerock Total Income + Real Estate Fund (“TI +”, ticker: TIPRX, TIPPX, TIPWX, TIPLX) ​​has a payout of $ 0.4025 per share, or 1.31% for the quarter based on the share price of $ 30.67 (A shares) for registered shareholders June 17, 2021. This distribution amount corresponds to an annualized rate of 5.25% * based on the current share price and thus marks the 34th quarterly distribution of the fund in a row. Since its inception in 2012, TIPRX has paid $ 12.58 of distributions to its shareholders. In addition to these quarterly distributions, the TIPRX NAV has increased approximately 23% from $ 25 to $ 30.67 per share (as of December 6, 2021).

“The fund continues to demonstrate its ability to provide consistent and attractive cash distributions to shareholders in a variety of market conditions since 2012. With inflation looming, we believe the fund is better positioned than traditional income investments as an income generator, but has also had a history of generating wealth and sustaining tax efficiency and growth benefits beyond the constant annual payout rate of 5.25 % went out “said Jeffrey Schwaber, CEO of Bluerock Capital Markets. “We are also proud to announce that the fund has achieved a total return of over 8% since September 2020, which supports our forecast that institutional private real estate will rebound strongly from the recession,” added Schwaber.

Since its inception, TI + has achieved its stated goals, including ongoing income and capital appreciation, as well as low correlation and low volatility compared to the broader markets.

The net assets under management for TI + are approx. $ 2.6 billion from June 18, 2021. TI + currently holds positions in 25 private equity and 2 private debt real estate investments with an underlying value of approx. $ 228 billion (Holdings are subject to change at any time and should not be viewed as investment advice) 1

1 For detailed fund holdings, please visit http://bluerockfunds.com/investment-holdings/

Net performance of the TI + A unit fund


Service until March 31, 2021

Service until May 31, 2021


A year

Five years

Annualized since inception2

Course of the year

Since its founding

TI + fund class A

3.17%

6.14%

7.26%

5.56%

7.42%

TI + Class A¹ with maximum sales fee

-2.76%

4.89%

6.50%

-0.50%

6.68%

The returns shown are the total net return: Expressed as a percentage, the total return is calculated by dividing the price change, possibly the reinvestment of all income and capital gains distributions during the period, by the starting price. Returns greater than one year are annualized.

1 The maximum sales charge for Class A Shares is 5.75%. Investors may be entitled to a waiver or a reduction in the initial charge.
2 is the launch date of the fund October 22, 2012.

The performance data cited here represent past performance. The current performance can be lower or higher than the performance data given above. The return on investment and the net present value fluctuate, so that units can be worth more or less than their original acquisition costs when they are redeemed. For performance information by the end of the month, please call the toll-free number 1-888-459-1059. Past performance is no guarantee of future results.

The total annual operating expense ratio of the Fund, before fee waivers or reimbursements, is 2.18% for Class A, 2.93% for Class C, 1.93% for Class I and 2.42% for Class L of its fees to reduce and / or take over expenses of the fund, at least up to January 31, 2022 for Class A, C, I and L Shares to ensure that the annual net operating expenses of the Fund are 1.95% for Class A, 2.70% for Class C and 1.70% for Class I and 2, Not to exceed 20% for class L of the average daily net assets of the fund attributable to classes A, C, I or L units, subject to possible redemption by the fund in future years. Please read the fund’s prospectus for further details on the exemption. The performance of a fund, especially for very short periods of time, shouldn’t be the only factor influencing your investment decisions. Fund performance and distributions are shown net of fees.

The Bluerock Total Income + Real Estate Fund is a closed interval fund that invests the majority of its assets in institutional private equity real estate securities, which are generally only available to institutional investors who meet the multi-million dollar minimum investment criteria. As of the first quarter of 2021, the value of the underlying properties held by the securities in which the Fund is invested will be approximately $ 228 billion, including investments managed by Ares, Blackstone, Morgan Stanley, Principal, Prudential, Clarion Partners, Invesco and RREEF, among others. The minimum investment in the fund is $ 2,500 ($ 1,000 for pension plans) for shares of classes A, C and L.

Copies of TI + publicly traded companies can be found on the SEC’s website at www.sec.gov or on the company’s website at www.bluerockfunds.com.

About the Bluerock Total Income + Real Estate Fund
The Bluerock Total Income + Real Estate Fund offers private investors access to a portfolio of institutional real estate stocks managed by first-class fund managers. The fund seeks a comprehensive real estate portfolio that offers a combination of current income, capital preservation, long-term capital appreciation and improved portfolio diversification with low to moderate volatility and low correlation to the broader equity and bond markets. The fund uses an exclusive partnership with Mercer Investment Management, Inc., the world’s leading advisor for foundations, pension funds, sovereign wealth funds and family offices worldwide with over 3,300 clients worldwide and over $ 15.0 trillion in advisory capacity.

Investing in the Bluerock Total Income + Real Estate Fund involves risk, including loss of capital. The Fund intends to invest in a number of real estate securities which may incur additional fees and expenses, including management and performance fees, for the Fund that could adversely affect returns and expose the Fund to additional risks, including a lack of control, as further described in the prospectus.

* The fund’s distribution policy provides for quarterly distributions to shareholders. The amount of the quarterly distributions (including any capital repayment) is not fixed and this distribution policy is subject to change. Shareholders should not assume that the Fund’s distribution will be net income. All or part of the distributions will consist of a principal repayment based on the nature of the distributions from the underlying holdings, primarily real estate investment trusts. The final determination of the source and tax characteristics of all distributions takes place at the end of each year. Shareholders should note that the capital repayment will reduce the tax base of their shares and potentially increase the taxable profit, if any, on the disposal of their shares. There is no assurance that the Company will continue to announce dividends or will proceed at these rates. There can be no assurance that any investment will effectively achieve the Fund’s investment objectives, generate positive returns or prevent losses.

Limited liquidity will only be made available to Shareholders through the Fund’s quarterly repurchase offers for at least 5% of the Fund’s Shares outstanding at Net Asset Value. There is no guarantee that shareholders will be able to sell all of the shares they wish in a quarterly repurchase offer. The Fund’s quarterly repurchase of its Shares will typically be financed from available cash or sales of securities in the Portfolio. Selling securities to buy back the Fund could lower the market price of those securities which in turn would decrease the Fund’s Net Asset Value.

Investors should carefully consider the investment objectives, risks, fees and expenses of the Bluerock Total Income + Real Estate Fund. This and other important information about the fund are contained in the prospectus, which is available online at bluerockfunds.com. The Bluerock Total Income + Real Estate Fund is distributed by ALPS, Inc. The prospectus should be read carefully before investing. Bluerock Fund Advisor, LLC is not affiliated with ALPS, Inc.

SOURCE Bluerock Total Income + Real Estate Fund

similar links

http://www.bluerockfunds.com

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Real Estate News

The secret few brokers discuss » RealtyBizNews: Real Estate News

Published

on

There’s a dirty little secret in the world of real estate agents that few talk about. It’s a worrying trend that we’re seeing more and more in small and medium-sized businesses: a lot of brokerage firms just aren’t very profitable today.

In more than 35 years I have looked at thousands of annual accounts. What’s interesting lately is that even in record industry-wide years where brokers have made big bucks, if you look at their income statements, which often show a nice profitable bottom line, we find that the bottom line in many of today’s brokerage firms is indeed from the broker’s own production.

Since the beginning of the industry, the top agents have generally made more money than the broker; it is like it is. Except … today’s conditions have changed so much for the broker / owner of all company sizes that there is a real discrepancy between the broker’s and broker’s incomes. Look how things have changed in the past few years:

  • The company’s dollar has fallen nearly 30% in the past five years alone
  • Competitive broker models force higher agent splits
  • Increasing spending has drastically reduced profits
  • The downward pressure on commissions continues to rise
  • New technologies and models are designed to undermine brokers

I have written many times about the steps brokers can take to build company dollars and profits, which generally requires a change in broker strategy and direction. It also involves an investment in resources that require capital from the broker / owner. Changing direction and putting time and financial commitment into their business is the path few choose.

Instead, many small and medium-sized business brokers today choose to remain producers because it worked well for them. They work with buyers and sellers because they enjoy it, and often they don’t really make a lot of money mediating – their profit comes from acting as a broker.

The problem arises when the owner is ready for a personal change. Maybe they want to slow down; maybe even cash out by selling or merging their firms, and then it becomes important to determine the market value of their brokerage business. The income statement and the real profits determine the market value of the company. When reviewing financial data, we often find that when the brokerage commissions are included but shown as profit, the company’s profits decrease once they are adjusted to reality or, as is often the case, actually lose money.

When determining the true profitability of the owner’s production, several questions are raised:

  • How are the owner’s commissions reported in the financial data?
  • Does the owner pay the same split as a comparable broker?
  • What Are The Company’s Real Dollar And Profits After The Owner’s Compensation Is Adjusted?
  • What would the replacement costs be for management?

A case study:

We were keen to acquire a seemingly profitable Southeastern brokerage company run by a dynamic and active broker / owner. The financial metrics came as quite a surprise, however. The company had the highest dollar and profit share in real estate brokerage history. But … closer inspection revealed that the reason for the massive profits was because the owner, who was the top producer by a significant amount, hadn’t paid himself any commissions – none, nada, zero. The result was an artificially high corporate dollar and a profit margin that exceeded anything I have ever seen. Of course, the owner’s asking price was also based on this very high net profit.

After considering a real commission structure and adjusting the income for the unpaid commissions, it became clear that the owner was subsidizing the company with his commissions. In fact, the agents did not even cover overhead costs, and without the owner’s personal financial contribution, the company lost significant revenues. Unfortunately, we couldn’t justify the purchase.

Does this mean the market is grim for those thinking of selling small to medium sized brokers? Not at all, but very actively, because top companies often pay a premium in order to establish themselves in a market or to increase their existing market share. There are also ways to structure the transaction that make sense for everyone. One of the most important steps a broker / owner must take when considering a sale in the near future is to invest in good accounting records that clearly document income, expenses, and real profitability.

I’ve found over the years that documentation is one of the top deal killers for brokers looking to cash out.

If you want to learn more and find out what a review looks like for your business, click here to contact Rick Ellis today.

Documentation is one of the top deal killers for brokers looking to cash out

Rick has an MBA in Digital Technology and is a licensed real estate agent. He is a business growth advisor and a regular speaker at real estate events. Rick and his wife live on the Georgia coast on St. Simons Island. He is available to advise with brokers looking for options.

Continue Reading

Real Estate News

LarrainVial, DaGrosa Capital Invest in Miami Real Estate Firms

Published

on

(LR) Joseph DaGrosa and Craig Studnicky with Jorge Escobar and Camilo Lopez (iStock, DaGrosa Capital, ISG World, TSG / Black Salmon)

Two financial firms acquired stakes in real estate companies in South Florida as the region continues to attract significant investment.

LarrainVial, a Chile-based asset manager, has each acquired a 33 percent stake in Black Salmon and TSG, a Coral Gables-based investment company and commercial property developer, both led by managing partners Camilo Lopez and Jorge Escobar. The transaction marks the first US expansion for LarrainVial, which has more than $ 28 billion in total assets under management.

In an independent deal, DaGrosa Capital Partners invested in the Aventura-based ISG World of broker Craig Studnicky. Studnicky said he will retain the majority of his ownership in the real estate company and will remain its CEO. Both companies declined to announce the terms of the deal.

DaGrosa, a Miami-based private equity firm, is led by founder and chairman Joseph DaGrosa Jr. ISG will use the new capital to strengthen its infrastructure and expand in South Florida, Latin America and elsewhere, Studnicky said.

South Florida has increasingly attracted investment from private equity firms. Madrid-based Azora Capital recently partnered with Miami-based Exan Capital to create Azora Exan, a US office, residential, hospitality, and senior residential investment joint venture

LarrainVial investment

Through Black Salmon and TSG, LarrainVial will own one-third of the companies’s combined assets and $ 1.8 billion under management projects in South Florida and the United States, including the Miami Wynwood House apartment project under construction and more than 1,500 additional residential units in South Florida, according to a press release.

“The strategic decision for Camilo [Lopez] and I was staying where we are or moving up to the big leagues and for that we definitely had to work with a big group, ”said Escobar, who is also co-CEO. TSG and Black Salmon will develop LarrainVial’s network of investors and high net worth individuals in Latin America and Europe.

The cash inflow will allow both companies to grow faster and on a larger scale, especially in multi-family and industrial real estate, he added.

Escobar said he will launch a value-added multi-family mutual fund and an industrial real estate investment fund by the end of the year, with the goal of raising nearly $ 250 million for both. The multi-family fund will focus on the Sunbelt states, while the industrial fund will target properties across the country.

DaGrosa infusion

Studnicky said DaGrosa’s investment in ISG World, a real estate brokerage firm and company that produces the Miami report, will enable ISG to expand its sales business, as well as offer home finance for developers and mortgages for home buyers.

“We can deliver the capital that Craig [Studnicky] To be more competitive, ”said DaGrosa.

ISG operates in Miami-Dade, Broward and Palm Beach Counties, as well as real estate sales in South Florida, Latin America.

Contact Katherine Kallergis

Continue Reading

Real Estate News

Higher, higher, higher – Dallas home prices are up almost 25% from a year ago

Published

on

A slowdown in home sales over the summer has not slowed real estate prices in Dallas.

In the latest S&P CoreLogic Case-Shiller Home Price Index, home values ​​in the Dallas area rose nearly 25% year over year.

It is the largest annual house price win for Dallas in the closely watched monthly real estate measurement.

Prices in the Dallas area rose nearly 2% in August alone.

And the local rise in home prices was well above the 19.8% nationwide increase in August 2020, according to Case-Shiller.

“The US housing market showed continued strength in August 2021,” said Craig J. Lazzara of S&P in the report. “Each of our city and composite indices are at their all-time highs, and year-over-year price growth continues to be very strong, albeit a little slower from the previous month’s level.

“August data also suggests that property price growth, while still very strong, may be slowing.”

Phoenix led the metropolitan areas with an annual price increase of 33.3%. San Diego prices rose 26.2% year over year and Tampa rose 25.9%.

Dallas had the fourth-highest rise in home prices among the top 20 markets included in the Case-Shiller survey.

US house prices are rising faster than ever in the monthly Case-Shiller poll, which has tracked house prices in major US cities for 30 years.

Case-Shiller’s price estimate is believed to be more accurate than real estate sales data, which can be influenced by the type of properties being sold each month.

The Case-Shiller Index compares changes in sales prices of certain properties over time.

Case-Shiller estimates that home prices in the Dallas area have increased about 50% over the past five years.

The tremendous price growth has continued even though total home sales in the region have declined in the last four months from a year earlier.

Home prices in the Dallas area have increased since the COVID-19 pandemic began and more tenants have moved into their homes.

A chronic shortage of homes in the market has added unprecedented upward pressure on home costs in North Texas.

Some real estate forecasters hope that price increases will slow down in the coming months.

“While demand remains strong and buyers are generally still paying more for property than asking price, the declining acceleration in property prices suggests buyer fatigue is on the way, especially for higher-priced properties that have seen price growth accelerating from the previous month, which is greater than that of the previous month to houses in the lower category, ”said Selma Hepp, Chief Economist at CoreLogic. “The persistently strong demand from traditional homebuyers was reinforced this summer by increasing demand from investors.”

Zillow economist Kwame Donaldson said nationwide housing construction had cooled somewhat before the fall season.

“It took a little longer to sell homes in September than it did in August, and the sales inventory increased by inches,” said Donaldson. In other words, although exceptional market conditions drove house prices higher between spring 2020 and summer 2021, recent signs suggest that the market is weakening.

“And while house price increases will remain elevated for the next few months, further acceleration is unlikely.”

Continue Reading
Advertisement

Trending