BPRE

Bluerock Private Real Estate Fund is a closed-end interval fund that invests primarily in institutional real estate securities, providing individual investors with access to high-quality, institutional-grade real estate investments typically available only to large institutional investors. The fund seeks to generate attractive risk-adjusted returns through a combination of current income and capital appreciation by investing in institutional real estate funds, REITs, real estate operating companies, and real estate-related securities across property types and geographies. The fund's strategy provides investors with diversified exposure to institutional real estate managed by established sponsors including Blackstone, Brookfield, Starwood Capital, and other leading real estate investment managers. By investing in multiple institutional funds and vehicles, Bluerock Private Real Estate Fund achieves diversification across property types (multifamily, industrial, office, retail, hospitality), geographic regions, investment strategies (core, value-add, opportunistic), and underlying real estate managers. This multi-manager approach reduces concentration risks while providing access to deals and opportunities typically requiring minimum investments of millions or tens of millions of dollars. As an interval fund, the fund offers limited liquidity through quarterly repurchase offers at NAV (typically 5% of shares outstanding), providing some liquidity while maintaining ability to invest in less-liquid institutional real estate investments. This structure differs from daily-traded mutual funds and closed-end funds trading on exchanges. The fund charges management fees and performance-based fees typical of alternative investment structures. Investors benefit from institutional real estate exposure, professional management, diversification, and income generation. However, the fund involves limited liquidity, fee layers including underlying fund fees, NAV-based pricing, and risks associated with real estate markets including property value fluctuations, leverage, interest rate sensitivity, and economic conditions. The fund suits investors seeking real estate allocation with understanding of interval fund liquidity characteristics and fee structures.