Bluerock Private RE Fund trustee gets 1,012 shares

Bluerock Private Real Estate Fund (BPRE) reported that trustee Tio Romano acquired Common Shares of Beneficial Interest through three code J transactions classified as other acquisitions.

Rhea-AI Filing Summary

Bluerock Private Real Estate Fund (BPRE) reported that trustee Tio Romano acquired Common Shares of Beneficial Interest through three code J transactions classified as other acquisitions. These consisted of 333.33 shares at $15.00 on December 31, 2025, 301.02 shares at $16.61 on March 31, 2026, and 378.12 shares at $13.22 on June 30, 2026. A footnote states each block of shares was granted in conjunction with the trustees' compensation plan, and the Rule 10b5-1 checkbox was not marked.

Insider Trade Summary

Other: 1,012.47 shares

Other 3 txns

Insider Tio Romano

Role Insider

Type	Security	Shares	Price	Value
Other	Common Shares of Beneficial Interest F1	378.12	$13.22	$5K
Other	Common Shares of Beneficial Interest F1	301.02	$16.61	$5K
Other	Common Shares of Beneficial Interest F1	333.33	$15.00	$5K

Holdings After Transaction: Common Shares of Beneficial Interest — 4,563.56 shares (Direct)

Footnotes (1)

1. F1. Consists of shares granted in conjunction with the trustees' compensation plan.

Key Figures

Shares acquired (2025-12-31): 333.3300 shares Shares acquired (2026-03-31): 301.0200 shares Shares acquired (2026-06-30): 378.1200 shares +4 more

7 metrics

Shares acquired (2025-12-31) 333.3300 shares Code J acquisition; trustee compensation grant at $15.0000 per share

Shares acquired (2026-03-31) 301.0200 shares Code J acquisition; trustee compensation grant at $16.6100 per share

Shares acquired (2026-06-30) 378.1200 shares Code J acquisition; trustee compensation grant at $13.2200 per share

Restructuring-type shares 1,012.47 shares Total restructuringCount shares across three code J transactions

Transaction price (2025-12-31) $15.0000 per share Valuation for trustee compensation grant

Transaction price (2026-03-31) $16.6100 per share Valuation for trustee compensation grant

Transaction price (2026-06-30) $13.2200 per share Valuation for trustee compensation grant

Key Terms

Common Shares of Beneficial Interest, Form 4, Section 16(a), trustees' compensation plan

4 terms

Common Shares of Beneficial Interest financial

"security_title: "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.

Form 4 regulatory

"Attorney-In-Fact, Pursuant to Limited Power of Attorney for Section 16(a) Filings"

Form 4 is a official document that company insiders, such as executives or major shareholders, file with regulators whenever they buy or sell company shares. It provides transparency about how those with inside knowledge are trading, helping investors see if insiders are confident in the company's prospects or may be selling for personal reasons. This information can influence investor decisions by revealing insiders' perspectives on the company's value.

Section 16(a) regulatory

"Limited Power of Attorney for Section 16(a) Filings, dated 7-22-22"

trustees' compensation plan financial

"Consists of shares granted in conjunction with the trustees' compensation plan."

FAQ

What insider transactions did BPRE trustee Tio Romano report on this Form 4?

Tio Romano reported three acquisitions of Bluerock Private Real Estate Fund (BPRE) Common Shares of Beneficial Interest via code J transactions on December 31, 2025, March 31, 2026, and June 30, 2026, all described as grants under the trustees' compensation plan.

How many BPRE shares did Tio Romano acquire in each reported transaction?

The reported grants to Tio Romano were 333.33 shares on December 31, 2025, 301.02 shares on March 31, 2026, and 378.12 shares on June 30, 2026, all in Common Shares of Beneficial Interest of Bluerock Private Real Estate Fund (BPRE).

At what prices were the BPRE trustee compensation share grants valued?

The compensation-related share grants to Tio Romano were valued at $15.00 per share on December 31, 2025, $16.61 per share on March 31, 2026, and $13.22 per share on June 30, 2026, as reported in the Form 4 for Bluerock Private Real Estate Fund (BPRE).

What is the total number of BPRE shares involved in the reported restructuring-type transactions?

The transaction summary shows restructuring-type acquisitions totaling 1,012.47 shares of Bluerock Private Real Estate Fund (BPRE) Common Shares of Beneficial Interest across the three reported transactions coded J for Tio Romano.

Were Tio Romano’s BPRE transactions reported as being under a Rule 10b5-1 trading plan?

No. The Form 4 for Bluerock Private Real Estate Fund (BPRE) shows the Rule 10b5-1 checkbox as not checked, and the footnote describes the transactions as share grants under the trustees' compensation plan, without reference to a trading plan.

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

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Available on EDGAR 08/27/2026 - 06:34 PM Accepted by SEC EDGAR 08/27/2026 - 06:33 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^*

Tio Romano

(Last) (First) (Middle)

919 THIRD AVENUE

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)

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

2a. Foreign Trading Symbol

3. Date of Earliest Transaction (Month/Day/Year)
12/31/2025

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	12/31/2025		J(1)		333.33	A	$15	3,821.88	D
Common Shares of Beneficial Interest	03/31/2026		J(1)		301.02	A	$16.61	4,122.9	D
Common Shares of Beneficial Interest	06/30/2026		J(1)		378.12	A	$13.22	4,563.56	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. Consists of shares granted in conjunction with the trustees' compensation plan.

Remarks:

***Attorney-In-Fact, Pursuant to Limited Power of Attorney for Section 16(a) Filings, dated 7-22-22

	/s/ JoAnn M. Strasser***	08/27/2026
	** 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)