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Stock Market & Financial Investment News

News Breaks
August 14, 2014
06:10 EDTBRGBluerock Residential reports Q2 adjusted FFO 13c, one esitmate 21c
Reports Q2 revenue $7.76M, one estimate $7.41M; The company estimates the adjusted FFO was impacted by a drag of 12c per share in the quarter due to the timing of the closing of the assets identified to be purchased with proceeds from the IPO.
News For BRG From The Last 14 Days
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March 20, 2015
16:42 EDTBRGBluerock Residential acquires Class AA Park & Kingston Apartments
Bluerock Residential Growth REIT announced that it has acquired through a joint venture a newly-constructed, class AA apartment community in Charlotte, North Carolina known as the Park & Kingston Apartments. The purchase price for the property's 168 units is $30.7M, or $183,000 per unit. This compares favorably to market pricing for similar projects in the $210,000 $240,000 per unit range. On March 16, all of the property's existing 153 units, which were completed in 2014, were acquired, with the remaining 15 units to be acquired once they are delivered by the developer, likely in the fourth quarter of this year. The purchase of the initial 153 units, at $27.85M, was partially funded with $13.3M of equity of which BRG contributed $6.3M, and with proceeds of a 5-year, full term interest only loan from Fannie Mae in the amount of $15.25M with a fixed rate of 3.21%.

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