Bluerock Residential Growth REIT Inc (BRG) 2013年年度报告「NYSE」.pdf

1、The IPO raised$50 million,which,after related expenses,netted approximately$44 million to the REIT.We have moved swiftly to acquire ownership in five additional properties with significant value-add potential.As of this writing,we are pleased to report that we are currently invested in a total of 10

2、 income-generating and development properties for a total investment cost,including joint venture partner interests,of approximately$460 million.With these acquisitions,our fixed expenses relative to the size of the portfolio are already reduced,and we believe we are on a growth trajectory.The REITs

3、 Class A common stock is now listed on the NYSE MKT exchange for trading(ticker:BRG).With the IPO now complete,we look forward to the coming months as we continue to grow our asset Bluerock Residential Growth REIT is now listed on the NYSE MKT Ticker:BRG2013 Annual Report Continued on page 2Letter f

4、rom the CEOTo Our Valued Stockholders,2013 was a momentous and transformative year for the REIT as we prepared for the initial public offering(IPO)that would be completed in April 2014.We elected to undertake the IPO based on our recognition that despite a solidly-performing property portfolio,posit

5、ive net income across the properties,and robust gains harvested on behalf of our investors,we were not raising enough capital through non-traded distribution channels to grow and operate the portfolio cost efficiently.Absent new inflows of cash to invest in a wider pool of income-producing propertie

6、s,the fixed expenses of operating a public REIT remained too high relative to our asset base.As reported for the year ended December 31,2013,we sustained a net loss attributable to common stockholders of$2.97 million,or$1.27 per share.BLUEROCKTMRESIDENTIALBRG2013 Annual Report02CEOs Letter Continued