Bluerock Homes Trust, Inc. (BHM) is an externally managed REIT that owns and operates institutional residential properties, including single-family homes, build-to-rent communities and other residential communities in Sunbelt and Western U.S. growth markets. Its corporate updates center on rental housing portfolio activity, value-add renovations, common and preferred stock dividends, dividend tax characterization and capital actions.
Recurring company news also covers annual meeting logistics, Board-authorized share repurchase activity and disclosures involving Class A and Class C common stock, Series A Redeemable Preferred Stock and Series B Redeemable Preferred Stock.
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Bluerock Homes Trust, Inc. (NYSE American: BHM) has announced its 2023 annual meeting of stockholders will take place on June 7, 2023. The record date for determining stockholders eligible to vote at this meeting is set for April 6, 2023. As an externally managed REIT, Bluerock focuses on owning and operating single-family properties in appealing markets, particularly in the Sunbelt and high-growth areas of the Western United States. The company aims to provide attractive risk-adjusted investment returns by developing rental communities and targeting middle-market renters.
Bluerock Capital Markets achieved a record capital raise exceeding $4 billion in 2022, marking a 92% increase from the previous year. Their flagship fund, Bluerock Total Income+ Real Estate Fund, raised over $3.8 billion, a surge of 164% year-over-year. The fund celebrated its 10-year anniversary and is now the largest real estate-related interval fund, boasting $7 billion in net assets. Additionally, Bluerock Residential Growth REIT sold multifamily assets to Blackstone for $24.25 per share, providing a 145% premium for shareholders. The newly formed Bluerock Homes Trust (BHM) launched with $750 million in assets.
Blackstone has successfully completed the acquisition of Bluerock Residential Growth REIT at $24.25 per share, totaling $3.6 billion in cash. This acquisition aligns with Blackstone's strategy to expand its real estate portfolio. Additionally, Bluerock has spun off its single-family rental business into an externally managed REIT, Bluerock Homes Trust, which started trading on the NYSE American. The transaction was initially announced on December 20, 2021, and signifies strategic growth for both firms in the competitive real estate market.
Bluerock Homes Trust, Inc. (NYSE American: BHM) officially launched as an externally-managed real estate investment trust (REIT) on October 6, 2022, focusing on the single-family rental market. The company spun off from Bluerock Residential Growth REIT and now manages approximately 4,000 homes, with 2,300 operating homes. Bluerock aims to cater to the growing demand for affordable rental solutions, capitalizing on the undersupply of housing. Chairman Ramin Kamfar emphasized the potential for value creation in this sector.