Bluerock Residential Growth Rei (BRG) 11.51 $BRG
Bluerock Residential Growth REIT Acquires Interest in Orlando Development Project within Publix Master Planned Community
GlobeNewswire - Wed Jul 30, 7:06AM CDT
via PRWEB - BRG expects to invest up to $4 million of preferred equity with the ability to convert into a common equity position following stabilization of the development. Catalyst Development Partners, the developer, will contribute approximately 15% of the required equity. Affiliates of Bluerock Real Estate, LLC control the remaining equity in the development.
MacKenzie Realty Capital, Inc. Announces a Tender Offer for Class B Shares of Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG)
Marketwire - Fri Jul 25, 8:40AM CDT
MacKenzie Realty Capital, Inc. announced a tender offer for Class B Shares of Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG). MacKenzie Realty Capital, Inc. is offering to purchase up to 30,000 Class B-1, 30,000 Class B-2, and 30,000 Class B-3 Shares for $11.00, $10.00, and $9.00 per Share, respectively. The Class B Shares will convert to Class A Shares of Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) 360, 540, and 720 days following Bluerock Residential Growth REIT, Inc.'s initial public offering of Class A Shares on April 2, 2014.
Bluerock Residential Growth REIT (BRG) Announces Third Quarter 2014 Common Stock Dividends
GlobeNewswire - Wed Jul 16, 3:52AM CDT
via PRWEB - Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) (the "Company"
today announced that its Board of Directors has authorized and the Company has declared monthly cash dividends for the third quarter of 2014 equal to a quarterly rate of $0.29 per share on the Company's class A common stock and $0.29 per share on the Company's Class B common stock.
BRG Closes Investment in Alexan CityCentre, a 340-Unit Class A Development in Houston; Announces Trammell Crow Residential as Development Partner
GlobeNewswire - Tue Jul 08, 5:58PM CDT
via PRWEB - BRG's underwriting projects a trended return on cost for the project of over 7.0% at stabilization, for value creation of 200 to 250 basis points versus sales of comparable multifamily communities in the Houston, Texas area at 4.5% - 5.0%, the Company said. The investment is forecast to generate a 15% AFFO yield during the development phase.
BRG Board Approves Investment in Houston's Energy Corridor
GlobeNewswire - Fri May 30, 8:18AM CDT
via PRWEB - Bluerock Residential Growth REIT, Inc. (NYSE: BRG) ("BRG" or "the Company" announced today that its Board of Directors approved an investment in a joint venture with a nationally prominent developer of multifamily communities, to develop an approximately 340-unit Class A rental apartment community in the thriving Energy Corridor submarket of Houston, Texas.
Bluerock Growth REIT Board Approves Acquisition of Additional Stake in Enders Place at Baldwin Park
GlobeNewswire - Thu May 29, 4:19PM CDT
via PRWEB - BRG's underwriting projects the return on cost in year one to be north of 6.25%. This, the company believes, compares favorably with sales of comparable multifamily communities in the Orlando, Florida area which are at average cap rates of 5.25% - 5.50%. The investment is forecast to generate an 11.5% AFFO yield in year one, growing thereafter, with a 1.9x equity multiple. BRG will invest up to $4 million in this transaction.
Bluerock Residential Growth REIT to Present at NAREIT's REITWeek 2014
PRWeb - Thu May 29, 3:14PM CDT
Bluerock Residential Growth REIT, Inc. ("BRG" (NYSE MKT: BRG), a real estate investment trust (REIT) today announced that it will present at REITWeek 2014, the National Association of Real Estate Investment Trusts (NAREIT) Investor Forum, on June 5, 2014, at 11:00am (ET), at the Waldorf Astoria New York. BRG, which went public in April of this year, will present an overview of the company, its investment portfolio and its investment strategy for the coming year.
Bluerock Residential Growth REIT Board Approves Investment in Orlando Development Project; Component of Publix Master Planned Community
PRWeb - Thu May 29, 1:05PM CDT
The project, located in close proximity to the University of Central Florida and Central Florida Research Park, will be a featured component of a master-planned, Publix-anchored retail development. The estimated cost to complete the development is $36.8 million.
Bluerock Residential Growth REIT Closes Acquisition of Majority Interest in Lansbrook Village, Tampa
PRWeb - Wed May 28, 10:59AM CDT
Based on April collections, the property is achieving a yield to cost of 6.65% vs. a market cap rate for the asset of 5.75% as estimated by the company. The Company's underwriting projects the property to attain a better than 7.40% return on cost, for more than a 2.0x return on its invested equity of $14.2 million at the completion of its business plan. This includes the purchase of additional units at the property.
Bluerock Residential Growth REIT Enters Agreement to Acquire a Majority Interest in Lansbrook Village, Tampa
GlobeNewswire - Wed May 21, 3:55PM CDT
via PRWEB - The company's board announced that its Board of Directors has approved the acquisition earlier this month.
Bluerock Residential Growth REIT Announces Sale of Creekside Property, Appointment of Treasurer and Updates to Corporate Governance Documents
GlobeNewswire - Tue Apr 01, 3:48PM CDT
via PRWEB - The Creekside property was sold to SIR Creekside, LLC, an unaffiliated third party, for $18,875,000, subject to certain prorations and adjustments typical in a real estate transaction. After deduction for payment of the existing mortgage indebtedness encumbering the Creekside property in the approximate amount of $13.5 million and payment of closing costs and fees, excluding disposition fees of approximately $69,946 deferred by the Company's former advisor, the sale of the Creekside property generated net proceeds to the Company of approximately $1.2 million based on its proportionate ownership therein.
Bluerock Residential Growth REIT (BRG) Prices Public Offering at $14.50 per Share
GlobeNewswire - Fri Mar 28, 11:34AM CDT
via PRWEB - The offering is expected to close on April 2, 2014. The Company has granted the underwriters a 30-day option to purchase up to an additional 517,241 shares to cover overallotments, if any.
Bluerock Residential Growth REIT Acquires Interest in Orlando Development Project within Publix Master Planned Community
GlobeNewswire - Wed Jul 30, 7:06AM CDT
via PRWEB - BRG expects to invest up to $4 million of preferred equity with the ability to convert into a common equity position following stabilization of the development. Catalyst Development Partners, the developer, will contribute approximately 15% of the required equity. Affiliates of Bluerock Real Estate, LLC control the remaining equity in the development.
MacKenzie Realty Capital, Inc. Announces a Tender Offer for Class B Shares of Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG)
Marketwire - Fri Jul 25, 8:40AM CDT
MacKenzie Realty Capital, Inc. announced a tender offer for Class B Shares of Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG). MacKenzie Realty Capital, Inc. is offering to purchase up to 30,000 Class B-1, 30,000 Class B-2, and 30,000 Class B-3 Shares for $11.00, $10.00, and $9.00 per Share, respectively. The Class B Shares will convert to Class A Shares of Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) 360, 540, and 720 days following Bluerock Residential Growth REIT, Inc.'s initial public offering of Class A Shares on April 2, 2014.
Bluerock Residential Growth REIT (BRG) Announces Third Quarter 2014 Common Stock Dividends
GlobeNewswire - Wed Jul 16, 3:52AM CDT
via PRWEB - Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) (the "Company"
today announced that its Board of Directors has authorized and the Company has declared monthly cash dividends for the third quarter of 2014 equal to a quarterly rate of $0.29 per share on the Company's class A common stock and $0.29 per share on the Company's Class B common stock. BRG Closes Investment in Alexan CityCentre, a 340-Unit Class A Development in Houston; Announces Trammell Crow Residential as Development Partner
GlobeNewswire - Tue Jul 08, 5:58PM CDT
via PRWEB - BRG's underwriting projects a trended return on cost for the project of over 7.0% at stabilization, for value creation of 200 to 250 basis points versus sales of comparable multifamily communities in the Houston, Texas area at 4.5% - 5.0%, the Company said. The investment is forecast to generate a 15% AFFO yield during the development phase.
BRG Board Approves Investment in Houston's Energy Corridor
GlobeNewswire - Fri May 30, 8:18AM CDT
via PRWEB - Bluerock Residential Growth REIT, Inc. (NYSE: BRG) ("BRG" or "the Company"
announced today that its Board of Directors approved an investment in a joint venture with a nationally prominent developer of multifamily communities, to develop an approximately 340-unit Class A rental apartment community in the thriving Energy Corridor submarket of Houston, Texas. Bluerock Growth REIT Board Approves Acquisition of Additional Stake in Enders Place at Baldwin Park
GlobeNewswire - Thu May 29, 4:19PM CDT
via PRWEB - BRG's underwriting projects the return on cost in year one to be north of 6.25%. This, the company believes, compares favorably with sales of comparable multifamily communities in the Orlando, Florida area which are at average cap rates of 5.25% - 5.50%. The investment is forecast to generate an 11.5% AFFO yield in year one, growing thereafter, with a 1.9x equity multiple. BRG will invest up to $4 million in this transaction.
Bluerock Residential Growth REIT to Present at NAREIT's REITWeek 2014
PRWeb - Thu May 29, 3:14PM CDT
Bluerock Residential Growth REIT, Inc. ("BRG"
(NYSE MKT: BRG), a real estate investment trust (REIT) today announced that it will present at REITWeek 2014, the National Association of Real Estate Investment Trusts (NAREIT) Investor Forum, on June 5, 2014, at 11:00am (ET), at the Waldorf Astoria New York. BRG, which went public in April of this year, will present an overview of the company, its investment portfolio and its investment strategy for the coming year. Bluerock Residential Growth REIT Board Approves Investment in Orlando Development Project; Component of Publix Master Planned Community
PRWeb - Thu May 29, 1:05PM CDT
The project, located in close proximity to the University of Central Florida and Central Florida Research Park, will be a featured component of a master-planned, Publix-anchored retail development. The estimated cost to complete the development is $36.8 million.
Bluerock Residential Growth REIT Closes Acquisition of Majority Interest in Lansbrook Village, Tampa
PRWeb - Wed May 28, 10:59AM CDT
Based on April collections, the property is achieving a yield to cost of 6.65% vs. a market cap rate for the asset of 5.75% as estimated by the company. The Company's underwriting projects the property to attain a better than 7.40% return on cost, for more than a 2.0x return on its invested equity of $14.2 million at the completion of its business plan. This includes the purchase of additional units at the property.
Bluerock Residential Growth REIT Enters Agreement to Acquire a Majority Interest in Lansbrook Village, Tampa
GlobeNewswire - Wed May 21, 3:55PM CDT
via PRWEB - The company's board announced that its Board of Directors has approved the acquisition earlier this month.
Bluerock Residential Growth REIT Announces Sale of Creekside Property, Appointment of Treasurer and Updates to Corporate Governance Documents
GlobeNewswire - Tue Apr 01, 3:48PM CDT
via PRWEB - The Creekside property was sold to SIR Creekside, LLC, an unaffiliated third party, for $18,875,000, subject to certain prorations and adjustments typical in a real estate transaction. After deduction for payment of the existing mortgage indebtedness encumbering the Creekside property in the approximate amount of $13.5 million and payment of closing costs and fees, excluding disposition fees of approximately $69,946 deferred by the Company's former advisor, the sale of the Creekside property generated net proceeds to the Company of approximately $1.2 million based on its proportionate ownership therein.
Bluerock Residential Growth REIT (BRG) Prices Public Offering at $14.50 per Share
GlobeNewswire - Fri Mar 28, 11:34AM CDT
via PRWEB - The offering is expected to close on April 2, 2014. The Company has granted the underwriters a 30-day option to purchase up to an additional 517,241 shares to cover overallotments, if any.
