NEW YORK, Sept. 18, 2024 /PRNewswire/ — Bluerock Total Income+ Real Estate Fund (“TI+,” tickers: TIPRX, TIPPX, TIPWX, TIPLX, TIPMX) has paid a third quarter distribution of $0.3582 per share, or 1.3125% for the quarter, based on the share price of $27.29 (A-shares) for shareholders of record as of September 17, 2024, marking the Fund’s 47th consecutive quarterly distribution. This distribution amount represents an annualized rate of 5.25%* based on the current share price. Since inception in 2012 at a $25 NAV per share, TIPRX has paid approximately $18.18 per share in total distributions to its shareholders, with a 66% historical average tax efficiency on those distributions.* A hypothetical shareholder who invested $100,000 in the A shares, no load at inception on 10.22.2012 would have received a cumulative total of approximately $72,720 in distributions. In addition to these quarterly distributions, TIPRX NAV has grown approximately 9% from $25.00 (at inception) to $27.29 per share (as of 9.17.2024), adding an attractive total return over and above cash distributions.
“We are pleased the Fund has delivered significant income to its valued shareholders over the last 47 consecutive quarters. Against a backdrop of declining interest rates and strong fundamentals in the Fund’s highest conviction sectors, we believe the Fund is poised for outsized growth and appreciation, as evidenced by the last two months of positive returns. We remain optimistic that our allocations to the industrial, residential and life sciences sectors will support a robust rebound and generate attractive income and total returns for the Fund’s shareholders,” said Jeffrey Schwaber, CEO of Bluerock Capital Markets.
Since inception, TI+ has delivered on its stated objectives, including generating current income and capital appreciation as well as maintaining low correlation and low volatility relative to the broader markets.
Net assets under management for TI+ are approximately $4.72 billion as of June 30, 2024 making it the largest real estate focused 1940 Act interval fund in the industry. TI+ currently maintains positions in 33 private equity and 5 private debt real estate investments, with underlying assets valued at approximately $362 billion (holdings are subject to change at any time and should not be considered investment advice).1
1 For detailed Fund holdings, please visit bluerock.com/ti-fund/investment-holdings
TI+ A-Share & I-Share Fund Net Performance
|
Performance Through 6.30.2024 |
||||
|
One Year |
Five Year |
Ten Year |
Annualized Since Inception2 |
|
|
TI+ Fund Class A |
-12.58 % |
3.29 % |
5.15 % |
5.91 % |
|
TI+ Fund Class A |
-17.60 % |
2.08 % |
4.52 % |
5.37 % |
|
TI+ Fund Class I |
-12.35 % |
3.56 % |
5.43 % |
5.47 % |
Returns presented are total net return: Expressed in percentage terms, the calculation of total return is determined by taking the change in price, reinvesting, if applicable, all income and capital gains distributions during the period, and dividing by the starting price. Returns greater than one year are annualized.
2 Inception date of the Fund is October 22, 2012.
3 The maximum sales charge for the Class A shares is 5.75%. Investors may be eligible for a waiver or a reduction in the sales charge.
The performance data quoted here represents past performance. Current performance may be lower or higher than the performance data quoted above. Investment return and principal value will fluctuate, so that shares, when redeemed, may be worth more or less than their original cost. For performance information current to the most recent month end, please call toll-free 1-844-819-8287. Past performance is no guarantee of future results.
The total annual fund operating expense ratio, gross of any fee waivers or expense reimbursements, is 3.15% for Class A, 3.87% for Class C, 2.89% for Class I, 3.41% for Class L, and 3.67% for Class M. The Fund’s investment advisor has contractually agreed to reduce its fees and/or absorb expenses of the fund, at least until January 31, 2025 for Class A, C, I, L and M shares, to ensure that the net annual fund operating expenses will not exceed 1.95% for Class A, 2.70% for Class C and 1.70% for Class I, 2.20% for Class L and 2.45% for Class M, per annum of the Fund’s average daily net assets attributable to Class A, Class C, Class I, Class L, and Class M shares, respectively, subject to possible recoupment from the Fund in future years. Please review the Fund’s Prospectus for more detail on the expense waiver. A fund’s performance, especially for very short periods of time, should not be the sole factor in making your investment decisions. Fund performance and distributions are presented net of fees.
About Bluerock Total Income+ Real Estate FundThe Bluerock Total Income+ Real Estate Fund offers individual investors access to a portfolio of institutional real estate securities managed by top-ranked fund managers. The Fund seeks to provide a comprehensive real estate holding 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. The Fund utilizes an exclusive partnership with Mercer Investment Management, Inc., the world’s leading advisor to endowments, pension funds, sovereign wealth funds and family offices globally, with over 16,000 clients worldwide, and over $16.45 trillion in assets under advisement.
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 that are generally available only to institutional investors capable of meeting the multi-million dollar minimum investment criteria. As of Q1 2024, the value of the underlying real estate held by the securities in which the Fund is invested is approximately $362 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 retirement plans) for Class A, C, and L shares and $1,000,000 for Class I shares, subject to waiver.
For copies of TI+ public company filings, please visit the U.S. Securities and Exchange Commission’s website at sec.gov or the Company’s website at bluerockfunds.com.
Investing in the Bluerock Total Income+ Real Estate Fund involves risks, including the loss of principal. The Fund intends to make investments in multiple real estate securities that may subject the Fund to additional fees and expenses, including management and performance fees, which could negatively affect returns and could expose the Fund to additional risk, including lack of control, as further described in the prospectus.
* The Fund’s distribution policy is to make quarterly distributions to shareholders. The level of quarterly distributions (including any return of capital) is not fixed and this distribution policy is subject to change. Shareholders should not assume that the source of a distribution from the Fund is net profit. All or a portion of the distributions consist of a return of capital based on the character of the distributions received from the underlying holdings, primarily Real Estate Investment Trusts. The final determination of the source and tax characteristics of all distributions will be made after the end of each year. Shareholders should note that return of capital will reduce the tax basis of their shares and potentially increase the taxable gain, if any, upon disposition of their shares. There is no assurance that the Company will continue to declare distributions or that they will continue at these rates. There can be no assurance that any investment will be effective in achieving the Fund’s investment objectives, delivering positive returns or avoiding losses.
66% is the simple average of the calendar year return of capital (ROC) and non-dividend distributions from 1.1.2014-12.31.2023. ROC, for tax purposes, should be distinguished from an economic return of capital, where an investor is repaid out of its own contributions rather than from the economic profits of the investment. As a tax law concept, an ROC is not tied to an investment’s financial performance. ROC distributions reduce the stockholder’s tax basis in the year the dividend is received.
Limited liquidity is provided to shareholders only through the Fund’s quarterly repurchase offers for no less than 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 desire in a quarterly repurchase offer. Quarterly repurchases by the Fund of its shares typically will be funded from available cash or sales of portfolio securities. The sale of securities to fund repurchases could reduce the market price of those securities, which in turn would reduce the Fund’s net asset value.
Investors should carefully consider the investment objectives, risks, charges and expenses of the Bluerock Total Income+ Real Estate Fund. This and other important information about the Fund is contained in the prospectus, which can be obtained online at bluerockfunds.com. The prospectus should be read carefully before investing.
The Bluerock Total Income+ Real Estate Fund is distributed by ALPS Distributors, Inc (ALPS). Bluerock Fund Advisor, LLC is not affiliated with ALPS.
SOURCE Bluerock Total Income+ Real Estate Fund
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