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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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August 21, 2015
08:49 EDTBRGBluerock Residential acquires 252-unit Arium Palms for $37M
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August 20, 2015
08:48 EDTBRGBluerock Residential acquires 322-Unit Ashton Reserve I in Charlotte, NC
Bluerock Residential has acquired 322 units within a Class A apartment community in Charlotte, NC known as the Ashton Reserve Apartments. The acquisition is the first phase of a two-phase acquisition that BRG will make in the community. The second phase, for the acquisition of Ashton Reserve II, is slated for early next quarter and will add an additional 151 units. BRG acquired Ashton Reserve I for $44.75M, or approximately $139K per unit. The company made an equity investment of approximately $13M to acquire Ashton Reserve I, and assumed the existing $31.9M mortgage loan. BRG acquired Ashton Reserve I at a favorable nominal cap rate of 6.0% as compared to local market cap rates of approximately 5.0%. BRG expects to acquire Ashton Reserve II at a cap rate of approximately 5.8%.

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