Bluerock Private Real Estate Fund Announces Monthly Distribution for October 2026

The $903 million investment pipeline spans closed investments, agreements, negotiations and identified prospects.

Rhea-AI Summary

Bluerock Private Real Estate Fund (BPRE) will pay its October cash distribution of $0.1371 per share on October 30, 2026. The record and ex-dividend dates are October 21. The distribution reflects a 7.3% rate on net asset value (NAV), an approximately 12.9% annualized market distribution rate and a 20.1% annualized tax-equivalent rate, based on the October 7 closing price of $12.80.

The fund has announced four distribution increases since listing. Its identified pipeline of potential new investments has grown to $903 million, spanning closed investments through identified prospects. Management plans to rotate capital from legacy institutional fund holdings into specialty direct real estate investments it believes offer better income and total return potential. Shareholders can automatically reinvest distributions through its reinvestment plan. Some or all distributions may be classified as return of capital.

3 points · 0 major

PositiveiHow this balance works

How this balance works

Rhea-AI gives every point it takes from this document a weight. Minor counts 1, Moderate 3 and Major 9, so one Major point outweighs several Minor ones. The bar adds up the weights on each side, and when neither side holds more than 65% of the total the balance reads Mixed.

It reads the document as published, with the same rules for every company, and it does not look at what the market expected or at how the stock traded, so a point can be objectively good on a day the stock falls.

Rhea-AI Sentiment measures something else, the tone of the wording.

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0 major · 2 points

Hollow bars mark forward-looking points. How the balance works

Positive

• Moderate pointPotential investment pipeline has grown to $903 million across several stages.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Management plans capital rotation into specialty direct real estate, targeting better income and total return potential.
• Minor pointDistribution increases announced since listing total four.

Negative

• Minor point$903 million pipeline includes investments under agreements, in exclusive negotiations or only identified as prospects.
• Minor point. Forward-looking: it has not happened yet and may not happen.Return-of-capital distributions reduce shareholders' tax basis and generally defer taxes until shares are sold.

Key Figures

Cash distribution: $0.1371 per share Distribution rate on NAV: 7.3% Annualized market distribution rate: approximately 12.9% +4 more

Cash distribution

$0.1371 per share

October 2026

Distribution rate on NAV

7.3%

October 2026 distribution

Annualized market distribution rate

approximately 12.9%

Based on the October 7, 2026 closing price

Annualized tax-equivalent distribution rate

20.1%

October 2026 distribution

Record date

October 21, 2026

Shareholders of record are eligible for the October distribution

Payment date

October 30, 2026

October 2026 distribution

Identified investment pipeline

$903 million

Pipeline highlighted in the Fund's recent strategic-roadmap progress report

Key Terms

nav, drip, return of capital, tax basis

4 terms

nav financial

"reflecting a 7.3% distribution rate on NAV"

Net asset value (NAV) is the total value of all the investments and assets in a fund or company, minus any debts or liabilities, divided by the number of shares or units outstanding. It represents the per-share worth, giving investors an idea of what each share is truly worth based on the underlying assets. Think of it like a company's total worth divided among its shares, helping investors assess whether a share is fairly priced.

View in glossary

drip financial

"Distribution Reinvestment Plan (DRIP) program"

A DRIP (dividend reinvestment plan) automatically uses cash dividends to buy additional shares of the same company instead of paying the money to the investor. Like using spare change from each paycheck to buy more of something you already own, a DRIP helps holdings grow over time through compounding without requiring the investor to decide each time, which can boost long‑term returns but reduce short‑term cash income.

return of capital financial

"Some or all of the Fund's distributions may be deemed to be a return of capital."

Return of capital is when an investor receives money from their investment that is not considered profit or earnings but rather a portion of the original amount they invested. It’s similar to getting back part of your initial savings rather than gains from it. This matters because it can affect how much money an investor still has in the investment and may have tax implications.

tax basis financial

"ROC distributions reduce the stockholder's tax basis"

Tax basis is the original value assigned to an asset for tax purposes, adjusted over time for things like improvements, depreciation, or distributions; it serves as the starting point used to calculate gain or loss when the asset is sold. For investors, it determines how much of a sale is treated as taxable profit—think of it as the purchase price on a receipt you subtract from the selling price to see what portion is taxed, so a higher basis usually means a smaller tax bill.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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NEW YORK, Oct. 7, 2026 /PRNewswire/ -- Bluerock Private Real Estate Fund (ticker: BPRE) today announced it will pay a cash distribution of $0.1371 per share for October 2026. The distribution will be paid to shareholders of record as of October 21, 2026, reflecting a 7.3% distribution rate on NAV as well as an annualized market distribution rate of approximately 12.9% and an annualized tax-equivalent distribution rate of 20.1%¹, based on the BPRE closing price of $12.80 on October 7, 2026.

The distribution will be made on the schedule below:

Record Date	10/21/26
Ex-Dividend Date	10/21/26
Pay Date	10/30/26
Distribution	$0.1371

BPRE has announced four distribution increases since listing, reflecting management's commitment to raising distributions as it executes on its strategic roadmap to maximize shareholder value by rotating capital out of BPRE's legacy core+ institutional fund holdings into the specialty direct real estate investments it believes offer stronger income and total return potential.

The Fund recently hosted a webinar to provide its second progress report on its execution against the strategic roadmap, highlighting the growth of its identified pipeline of potential new investments to $903 million² and its significant progress in realizing cost savings and raising distributions.

Net assets under management for BPRE are approximately $3.2 billion as of September 30, 2026. The Fund currently maintains positions in 25 private equity and 16 private debt real estate investments, with underlying assets valued at approximately $250 billion (holdings are subject to change at any time and should not be considered investment advice).

BPRE is pleased to offer its shareholders a Distribution Reinvestment Plan (DRIP) program, providing a structured and convenient way for investors to automatically reinvest monthly cash distributions into additional shares, allowing for the potential of enhanced compounding and, in certain scenarios, the ability to acquire shares at favorable pricing, including potential purchases at a discount to Net Asset Value (NAV).

Some or all of the Fund's distributions may be deemed to be a return of capital. The Fund provides a notice of its best estimate of the sources of a distribution at the time of such distribution. Such notice and other detailed Fund information is available at bprefund.com.

Bluerock Private Real Estate Fund (ticker: BPRE) is the only New York Stock Exchange-listed closed-end fund offering investors dedicated access to private real estate. The Fund is the largest real estate-focused closed-end fund on the market and is designed to deliver strong, consistent tax-advantaged income while also pursuing attractive long-term capital appreciation. Following its December 2025 listing, BPRE has been executing on its strategic roadmap plan to maximize shareholder value by rotating capital into high-growth, specialty real estate sectors and consistently raising distributions, having announced four distribution increases since listing. Learn more about BPRE at bprefund.com.

¹ The market distribution rate is calculated by annualizing the distribution for the relevant month and dividing by the Fund's closing price on the NYSE for 10/7/2026. The tax-equivalent distribution rate is the rate a fully taxable investment needs in order to equal the after-tax rate on a comparable tax-advantaged investment. The example assumes 37% maximum federal income tax rate and includes the 3.8% Medicare surtax that is applied to the net investment income above certain thresholds. It also includes a 5% average state tax rate. Tax equivalent distribution rate is calculated based on a 67% ROC. 67% is the Fund average (2013-2025) return of capital ("ROC") and non-dividend distribution portion of distributions. ROC, for tax purposes, should be distinguished from an economic return of capital, where an investor is repaid out of its own contributions rather than from the economic profits of the investment. As a tax law concept, an ROC is not tied to an investment's financial performance. ROC distributions reduce the stockholder's tax basis in the year the dividend is received. The stockholder's tax basis may be reduced by ROC distributions in the year the distribution is received and generally defer taxes on that portion until the stockholder's stock is sold. Upon sale, the investor will calculate their gain by reference to the lower cost basis attributable to the ROC distributions, which gain may be subject to tax at capital gain rates.

² Represents investments include closed, under PSA, under LOI, in exclusive negotiations or identified as pipeline.

CAUTIONARY NOTE REGARDING FORWARD-LOOKING STATEMENTS
Statements included herein may constitute "forward-looking" statements as that term is defined in Section 27A of the Securities Act, and Section 21E of the Securities Exchange Act of 1934, as amended by the Private Securities Litigation Reform Act of 1995, including statements with regard to future events or the future performance or operations of the Fund, including but not limited to, liquidity events. Words such as "intends," "will," "believes," "expects," and "may" or similar expressions are intended to identify forward-looking statements. These forward-looking statements are subject to the inherent uncertainties in predicting future results and conditions. Certain factors could cause actual results to differ materially from those projected in these forward-looking statements. Factors that could cause actual results to differ materially include changes in the economy, geo-political risks, risks associated with possible disruption to the Fund's operations or the economy generally due to hostilities, terrorism, natural disasters or pandemics such as COVID-19, future changes in laws or regulations and conditions in the Fund's operating area, unexpected costs, the price at which the common shares may trade on a national securities exchange, and such other factors that are disclosed in the Fund's filings with the Securities and Exchange Commission (the "SEC"). The inclusion of forward-looking statements should not be regarded as a representation that any plans, estimates or expectations will be achieved. Any forward-looking statements speak only as of the date of this communication. Except as required by federal securities laws, the Fund undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Readers are cautioned not to place undue reliance on any of these forward-looking statements.

IMPORTANT INFORMATION ON RISK
Investing in the Fund involves risks, including the risk that you may receive little or no return on your investment or that you may lose part or all of your investment. Investors should carefully consider the investment objectives, risks, charges, and expenses of BPRE.

Media Contact:

Carly Hampton
Managing Director, Head of Client Engagement
Bluerock
415.272.6635
press@bluerock.com

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SOURCE Bluerock Private Real Estate Fund

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

How much is BPRE's October 2026 distribution, and when is it paid?

BPRE will pay $0.1371 per share on October 30, 2026, to shareholders of record on October 21, 2026. The ex-dividend date is also October 21.

What distribution rates does BPRE report for October 2026?

The October distribution reflects a 7.3% rate on NAV, an approximately 12.9% annualized market distribution rate and a 20.1% annualized tax-equivalent rate. The market rate uses the fund's $12.80 closing price on October 7, 2026.

What assumptions underpin BPRE's October 2026 tax-equivalent distribution rate?

The 20.1% tax-equivalent rate assumes a 37% maximum federal income tax rate, a 3.8% Medicare surtax and a 5% average state tax rate. It also uses 67% return of capital, the fund's average return-of-capital and non-dividend distribution portion for 2013–2025. This is a historical assumption, not an October distribution classification.

Can BPRE shareholders reinvest their monthly distributions?

BPRE's Distribution Reinvestment Plan allows shareholders to automatically reinvest monthly cash distributions into additional shares. In certain scenarios, purchases may occur at favorable prices, including potentially at a discount to net asset value; that pricing is not guaranteed.

Where can BPRE shareholders find the estimated sources of a distribution?

BPRE provides a notice with its best estimate of distribution sources at the time of each distribution, available at bprefund.com. Some or all distributions may be deemed return of capital, which reduces shareholders' tax basis and generally defers taxes on that portion until the shares are sold.