Bluerock Private Real Estate Fund director buys 10,400 shares

The reported direct position after the transaction was 35,575 shares, and no Rule 10b5-1 plan is reported.

Rhea-AI Filing Summary

Bluerock Private Real Estate Fund director Ryan S. MacDonald reported a direct purchase of 10,400 Common Shares of Beneficial Interest on September 21, 2026. The transaction row lists $11.9733 per share, while its linked footnote describes a weighted-average sale price and says the shares were sold in multiple transactions from $11.9572 to $11.987. His reported direct holdings after the purchase were 35,575 shares. No Rule 10b5-1 plan is reported.

Insider Trade Summary

Net Buyer: 10,400 shares

Net Buy 1 txn

Insider MacDonald Ryan S

Role Director

Bought 10,400 shs ($125K)

Type	Security	Shares	Price	Value
Purchase	Common Shares of Beneficial Interest F1	10,400	$11.9733	$125K

Holdings After Transaction: Common Shares of Beneficial Interest — 35,575 shares (Direct)

Footnotes (1)

1. F1. The price reported is a weighted average sale price per share. These shares were sold in multiple transactions at prices ranging from $11.9572 to $11.987.

Key Figures

Shares purchased: 10,400 shares Listed transaction price: $11.9733 per share Direct holdings after transaction: 35,575 shares +1 more

4 metrics

Shares purchased 10,400 shares September 21, 2026

Listed transaction price $11.9733 per share The linked footnote describes a weighted-average sale price.

Direct holdings after transaction 35,575 shares Reported following the September 21, 2026 transaction

Footnote price range $11.9572–$11.987 per share Prices for the multiple transactions described as sales in the linked footnote

Key Terms

Common Shares of Beneficial Interest, weighted average sale price per share, open market or private transaction

3 terms

Common Shares of Beneficial Interest financial

"purchase of Common Shares of Beneficial Interest"

Common Shares of Beneficial Interest are units that represent ownership in a company or organization, like owning a piece of a pie. They give investors voting rights and a chance to share in profits, making them important for those looking to invest and have a say in how the organization is run.

weighted average sale price per share financial

"The price reported is a weighted average sale price per share"

open market or private transaction financial

"Purchase in open market or private transaction"

FAQ

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

How many BPRE shares did director Ryan S. MacDonald buy, and at what price?

Ryan S. MacDonald reported buying 10,400 shares on September 21, 2026, at a listed price of $11.9733 per share; the linked footnote describes a weighted-average sale price for transactions ranging from $11.9572 to $11.987.

Was Ryan S. MacDonald's BPRE transaction made under a Rule 10b5-1 plan?

No Rule 10b5-1 plan is reported for the transaction.

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

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Available on EDGAR 09/23/2026 - 08:22 PM Accepted by SEC EDGAR 09/23/2026 - 08:21 PM Learn about SEC filing dates

SEC Form 4

FORM 4

UNITED STATES SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549

STATEMENT OF CHANGES IN BENEFICIAL OWNERSHIP

Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934
or Section 30(h) of the Investment Company Act of 1940

OMB APPROVAL

OMB Number:			3235-0287
Estimated average burden
hours per response:			0.5

Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).

Check this box to indicate that a transaction was made pursuant to a contract, instruction or written plan for the purchase or sale of equity securities of the issuer that is intended to satisfy the affirmative defense conditions of Rule 10b5-1(c). See Instruction 10.

1. Name and Address of Reporting Person^*

MacDonald Ryan S

(Last) (First) (Middle)

919 THIRD AVE., 40TH FLOOR

(Street)

NEW YORK NEW YORK 10022

(City) (State) (Zip)

UNITED STATES

(Country)

2. Issuer Name and Ticker or Trading Symbol
Bluerock Private Real Estate Fund [ BPRE ]

5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)

X	Director		10% Owner
	Officer (give title below)		Other (specify below)

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
09/21/2026

6. Individual or Joint/Group Filing (Check Applicable Line)

X	Form filed by One Reporting Person
	Form filed by More than One Reporting Person

4. If Amendment, Date of Original Filed (Month/Day/Year)

Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	3. Transaction Code (Instr. 8)		4. Securities Acquired (A) or Disposed Of (D) (Instr. 3, 4 and 5)			5. Amount of Securities Beneficially Owned Following Reported Transaction(s) (Instr. 3 and 4)	6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
			Code	V	Amount	(A) or (D)	Price
Common Shares of Beneficial Interest	09/21/2026		P		10,400	A	$11.9733(1)	35,575	D

Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned (e.g., puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security (Instr. 3)	2. Conversion or Exercise Price of Derivative Security	3. Transaction Date (Month/Day/Year)	3A. Deemed Execution Date, if any (Month/Day/Year)	4. Transaction Code (Instr. 8)		5. Number of Derivative Securities Acquired (A) or Disposed of (D) (Instr. 3, 4 and 5)		6. Date Exercisable and Expiration Date (Month/Day/Year)		7. Title and Amount of Securities Underlying Derivative Security (Instr. 3 and 4)		8. Price of Derivative Security (Instr. 5)	9. Number of derivative Securities Beneficially Owned Following Reported Transaction(s) (Instr. 4)	10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)
				Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares

Explanation of Responses:

1. The price reported is a weighted average sale price per share. These shares were sold in multiple transactions at prices ranging from $11.9572 to $11.987.

Remarks:

***Attorney-In-Fact, Pursuant to Limited Power of Attorney

	/s/ Philip Sineneng***	09/23/2026
	** Signature of Reporting Person	Date
Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4 (b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).
Note: File three copies of this Form, one of which must be manually signed. If space is insufficient, see Instruction 6 for procedure.
Persons who respond to the collection of information contained in this form are not required to respond unless the form displays a currently valid OMB Number.
* Form 4: SEC 1474 (03-26)