Bluerock's Proposal for NYSE Listing Gains Support
Bluerock Total Income+ Real Estate Fund is excited to share that renowned independent proxy advisory firms, Institutional Shareholder Services Inc. ("ISS") and Glass Lewis & Co. ("Glass Lewis"), have endorsed a significant proposal regarding the Fund's transition to listing on the New York Stock Exchange. This pivotal initiative has also received unanimous backing from the Fund's Board of Trustees.
Transformation from Closed-End Fund to Listed Fund
The essence of this proposal, recommended by both ISS and Glass Lewis, is to convert the Fund from a closed-end interval fund to a listed closed-end fund. This shift is aimed at enhancing liquidity while enabling more agile capital deployment. Given the attractive buying opportunities in the current private real estate market, listing the Fund will position it to seize these investments effectively.
Shareholder Approval Needed for Conversion
The proposed conversion is contingent upon shareholder approval, which will be sought during a special meeting. Should the proposal pass, Bluerock Total Income+ will emerge as the largest real estate-focused listed closed-end fund globally, symbolizing a significant milestone in the Fund's evolution.
Leadership Voices Confidence in the Proposal
Ramin Kamfar, the Founder and Chief Executive Officer of Bluerock, expressed his enthusiasm regarding the endorsements from ISS and Glass Lewis. "We are thrilled to receive this endorsement. Their recommendations highlight the merits of this initiative and underscore our dedication to maximizing long-term value for our shareholders," he stated. Kamfar also encouraged shareholders to actively engage in this crucial vote, emphasizing that their participation plays a vital role in shaping the future of the Fund.
Understanding the Benefits of NYSE Listing
A successful transition to a listed fund on the NYSE would not only enhance accessibility for investors but also allow the Fund to act swiftly in capitalizing on real estate market opportunities. By facilitating daily liquidity, shareholders could more easily navigate their investment strategies and respond to market fluctuations.
Commitment to Shareholder Success
The support from ISS and Glass Lewis illustrates the commitment to ensuring that Bluerock Total Income+ thrives in an evolving market. Their endorsement is a testament to the effectiveness of the strategic initiatives aimed at fostering growth and stability within the Fund.
About Bluerock
Bluerock stands as a prominent institutional alternative asset manager headquartered in New York, with a vast portfolio that reflects over 100 years of collective investment experience. The firm manages assets exceeding $19 billion, showcasing a blend of public and private investment programs tailored to meet the diverse needs of individual investors, particularly those seeking income and capital growth.
In today’s financial landscape, Bluerock continues to explore opportunities that align with their vision of providing sustainable income and substantial returns to their stakeholders. As the NYSE listing proposal moves forward, the company's commitment to transparency and shareholder engagement remains unwavering.
Frequently Asked Questions
What is the significance of the proposal for shareholders?
The proposal aims to convert the Fund to a listed closed-end fund, which would enhance liquidity and flexibility for shareholders, allowing them to capitalize on real estate opportunities.
Which advisory firms endorsed Bluerock's proposal?
Institutional Shareholder Services Inc. (ISS) and Glass Lewis & Co. (Glass Lewis) have provided their support for the proposal.
When will the shareholder meeting take place?
A special meeting to discuss the proposal will be held, where shareholders' approval will be sought for the conversion.
What advantages does a NYSE listing provide?
A NYSE listing allows for better liquidity, enabling investors to trade shares more freely and provides enhanced visibility and credibility in the market.
How is Bluerock positioning itself in the real estate market?
Bluerock is focusing on strategic acquisitions and investments in the real estate sector, aiming to maximize value and returns for investors.
