Bluerock Total Income+ Real Estate Fund, the largest 1940 Act real estate interval fund in the industry as measured by net assets, (“TI+”, “TI+ Fund”, tickers: TIPRX, TIPPX, TIPWX, TIPLX, TIPMX) announced it has paid total distributions to shareholders exceeding $1 billion since its inception in 2012. The significant milestone comes after the Fund recently paid its 42nd consecutive quarterly distribution. As a closed-end interval fund, TI+ Fund pays a quarterly distribution corresponding to the Fund’s net asset value (NAV) at the annualized rate of 5.25%* based on the current share price. Since the Fund’s introduction in 2012 at a $25 NAV per share, TIPRX has paid approximately $16.27 per share in total distributions to its shareholders, with a 65% average annual tax deferral on those distributions.1
In addition to these quarterly distributions, TIPRX NAV has grown over 30% from $25.00 to $32.67 per share (as of 6.30.2023), generating a 7.82% annualized return since inception and has delivered a positive total return every calendar year since inception including an approximate 10% return in 2022 when many equity and fixed income indexes incurred sizeable drawdowns.
“Delivering over $1 billion in total distributions to its shareholders over 10 years and 42 consecutive quarterly distributions is a major milestone and is validation of the structure and investment strategy of the TI+ Fund,” said Jeffrey Schwaber, CEO of Bluerock Capital Markets. “Since inception, TI+ Fund has been through multiple market cycles, a pandemic, a recession, and a sizable interest rate hike cycle and yet the underlying institutional private real estate asset class has proven resilient, and the Fund has been able to be a consistent producer of attractive, tax-efficient income and total returns to its shareholders. We remain bullish on the outlook for outsized rental rate and NOI growth in the Fund’s high conviction overweight sectors which we believe will lead to a robust market rebound and the ability for the Fund to continue to generate attractive income and total returns,” added Schwaber.
Since inception, TI+ has delivered on its stated objectives, including generating substantial tax efficient 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 $6.3 billion as of June 30, 2023 making it the largest real estate focused 1940 Act interval fund in the industry. TI+ currently maintains positions in 34 private equity and 4 private debt real estate investments, with underlying assets valued at approximately $389 billion (holdings are subject to change at any time and should not be considered investment advice).
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.
1 Source: Morningstar Direct. Past Performance is no guarantee of future results. Short term performance is not necessarily indicative of long-term performance.
2 For detailed Fund holdings, please visit bluerock.com/ti-fund/investment-holdings.
3 Inception date of the Fund is October 22, 2012.
4 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 1-888-459-1059. Past performance is no guarantee of future results.
The total annual fund operating expense ratio, gross of any fee waivers or expense reimbursements, is 2.04% for Class A, 2.74% for Class C, 1.78% for Class I, 2.29% for Class L, and 2.56% 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, 2024 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.
(This news/press release has not been altered by investment.net, apart from the headline, and has been obtained from a syndicated source:- https://www.prnewswire.com/news-releases/bluerock-total-income-real-estate-fund-eclipses-1-billion-in-total-distributions-paid-to-shareholders-301871439.html)