Bridge Invt Group Hldgs Inc Stock Price, News & Analysis

Bridge Investment Group Holdings announced the promotion of Lourdes Fisher to Senior Managing Director and four colleagues to Managing Director as part of their leadership expansion. Robert Morse, Executive Chairman, praised Fisher's contributions to the Client Solutions Group. The newly promoted Managing Directors include Allison Ramirez, Scott Kirk, Cynthia Adams, and Patrick Brooks. Additionally, Garrett Behling has been promoted to Chief Accounting Officer, overseeing corporate accounting. Bridge manages approximately $43.8 billion in assets across various real estate sectors, emphasizing its commitment to leadership development and operational excellence.

Bridge Investment Group Holdings Inc. (NYSE: BRDG) announced the appointment of Adam Haughton as Chief Investment Officer of Bridge Renewable Energy, effective December 12, 2022. This partnership with Lumen Energy Inc. aims to produce clean energy by developing renewable energy infrastructure on commercial properties, addressing the growing demand for green energy. Haughton brings over 15 years of solar investment expertise and previously served as Chief Investment Officer at New Energy Solar Manager. His appointment is seen as a strategic move to enhance the company’s energy transition efforts and provide competitive energy pricing for owners and tenants.

Bridge Net Lease has acquired a Class-A manufacturing and distribution asset in Port St. Lucie, South Florida, totaling 411,852 square feet. The facility is fully leased to TAMCO, a City Electric Supply Company division, under a long-term net lease. Constructed in 2020, the asset features 40’ clear heights and includes land for potential expansion. This acquisition supports Bridge's strategy of acquiring mission-critical assets in prime growth markets with creditworthy tenants. This addition enhances Bridge's portfolio by increasing its weighted average lease term and cap rate, solidifying its presence in the Southeastern US market.

T-Mobile (TMUS) has announced an exclusive agreement with ExteNet Systems to deploy digital wireless infrastructure in large venues, marking an industry first. This partnership aims to enhance 5G capabilities and streamline T-Mobile's network assets post-merger with Sprint. Under the contract, ExteNet will manage the infrastructure deployment for venues, ensuring faster rollout times. This agreement, effective October 1, 2022, also includes a collaboration with MGM Resorts to enhance connectivity across 25 properties, which serve over 70 million visitors annually.

Bridge Investment Group Holdings reported a net income of $32.2 million for Q3 2022, equating to $0.17 per share. The distributable earnings for the operating company were $49.8 million, or $0.29 per share after-tax. Fundraising inflows reached $1.3 billion, raising total assets under management to $43.8 billion. The company declared a quarterly dividend of $0.27 per share, payable December 16, 2022. Despite a tightening credit market, demand in the U.S. real estate sector remains strong.

Bridge Investment Group Holdings Inc. (NYSE: BRDG) and KB Asset Management announced a strategic partnership to enhance KBAM's overseas real estate investment capabilities. This collaboration aims to identify equity capital commitments of at least $1 billion from KBAM and $2 billion from third-party investors for U.S. investments over the next four years. The partnership will utilize Bridge’s U.S. real estate investment network, aiming to diversify KBAM’s portfolio and improve returns for Korean investors.

Bridge Investment Group Holdings Inc. (NYSE: BRDG) has successfully raised $1.74 billion for its Bridge Workforce and Affordable Housing Fund II, surpassing its target of $1.50 billion. The fund will focus on building and rehabilitating affordable housing for residents earning below 80% of area median income. This initiative addresses the U.S. affordable housing crisis, which impacts over 10.5 million households. The company plans to invest over $40 million in community enhancement initiatives to support the needs of residents.

Bridge Investment Group Holdings Inc. (NYSE: BRDG) will announce its third quarter 2022 financial results on November 8, 2022, after market close. A conference call to discuss these results is scheduled for November 9, 2022, at 8:30 am ET. Interested participants can join via phone or live webcast. The company manages approximately $42.0 billion in assets across various real estate sectors, including residential rental and logistics properties, as of June 30, 2022. An audio replay of the call will be available until November 23, 2022.

Bridge Investment Group Holdings Inc. (NYSE: BRDG) has entered a definitive agreement to create a joint venture with Grosvenor's Diversified Property Investments to allocate $100 million for acquiring and enhancing top-tier office assets. This partnership aims to meet the increasing demands for modern, amenitized office spaces in prime locations post-COVID-19. The first asset, Camelback Center in Phoenix, Arizona, has already seen $25.1 million invested in upgrades, and is currently 82% leased. The venture will leverage Bridge's property management and sustainability initiatives.