Bluerock Private Real Estate Fund Announces Monthly Distribution for November 2026

The fund has announced four distribution increases since listing while pursuing a rotation into specialty direct real estate.

Rhea-AI Summary

Bluerock Private Real Estate Fund (BPRE) will pay a November cash distribution of $0.1371 per share on November 30, 2026. The record and ex-dividend dates are November 18. The payout reflects a 7.5% distribution rate on NAV, or net asset value, and an annualized market distribution rate of approximately 13.1%, based on the November 4 closing price of $12.56.

The fund has announced four distribution increases since listing and reported an identified potential investment pipeline of $903 million, spanning closed investments through identified opportunities. It plans to rotate capital from legacy institutional fund holdings into specialty direct real estate. Some or all distributions may be classified as return of capital.

4 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.

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0 major · 2 points

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

Positive

• Moderate point$903 million investment pipeline spans closed investments through identified opportunities.
• Moderate point. Forward-looking: it has not happened yet and may not happen.Capital rotation plan targets specialty direct real estate that management believes offers stronger income and total return potential.
• Minor pointFour distribution increases have been announced since the fund's listing.
• Minor pointCost savings have progressed as the fund executes its roadmap.

Negative

• Minor pointPipeline includes uncompleted opportunities under purchase agreements, letters of intent, exclusive negotiations or merely identified.
• Minor point. Forward-looking: it has not happened yet and may not happen.Some or all distributions may be return of capital, reducing shareholders' tax basis.

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

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NEW YORK, Nov. 4, 2026 /PRNewswire/ -- Bluerock Private Real Estate Fund (ticker: BPRE) today announced it will pay a cash distribution of $0.1371 per share for November 2026. The distribution will be paid to shareholders of record as of November 18, 2026, reflecting a 7.5% distribution rate on NAV as well as an annualized market distribution rate of approximately 13.1% and an annualized tax-equivalent distribution rate of 20.5%¹, based on the BPRE closing price of $12.56 on November 4, 2026.

The distribution will be made on the schedule below:

Record Date	11/18/26
Ex-Dividend Date	11/18/26
Pay Date	11/30/26
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 released video highlights from its second progress report webinar, in which it reported on its execution against the strategic roadmap, including the growth of its identified pipeline of potential new investments to $903 million² and its significant progress in realizing cost savings and raising distributions.

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 11/4/2026. 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.

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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 November 2026 distribution and when is it paid?

BPRE will pay $0.1371 per share on November 30, 2026, to shareholders of record on November 18, 2026. The ex-dividend date is also November 18.

What assumptions underlie BPRE's 20.5% tax-equivalent distribution rate?

The 20.5% annualized tax-equivalent distribution rate assumes a 37% maximum federal income tax rate, a 3.8% Medicare surtax and a 5% average state tax rate. It also uses a 67% return-of-capital and non-dividend distribution portion, the fund's average for 2013–2025, and the November 4, 2026 closing price of $12.56.

Can BPRE shareholders reinvest their monthly distributions?

BPRE offers a Distribution Reinvestment Plan that automatically reinvests monthly cash distributions into additional shares. The fund says the plan may allow purchases at favorable prices in certain scenarios, including potential purchases below net asset value.