What BPRE share grant did Kamal Jafarnia receive on March 31, 2026?

On March 31, 2026, Kamal Jafarnia acquired 301.02 BPRE common shares of beneficial interest at $16.61 per share in a Code J transaction. A footnote states these shares were granted in conjunction with the trustees' compensation plan.

Bluerock Private RE Fund trustee granted 1,012 shares

Q: Who is the insider involved in this Form 4 for BPRE?

The Form 4 for BPRE relates to Kamal Jafarnia, identified as a Trustee of Bluerock Private Real Estate Fund, reporting acquisitions of common shares of beneficial interest through trustee compensation grants.

Q: What transactions did Kamal Jafarnia report for BPRE on June 30, 2026?

On June 30, 2026, Kamal Jafarnia acquired 378.12 common shares of beneficial interest of BPRE at $13.22 per share in a Code J transaction, consisting of shares granted under the trustees' compensation plan and held as direct ownership.

Q: What BPRE grant was reported for December 31, 2025?

For December 31, 2025, Kamal Jafarnia reported acquiring 333.33 BPRE common shares of beneficial interest at $15.00 per share in a Code J transaction, with the footnote explaining the shares were granted under the trustees' compensation plan.

Q: Are the reported BPRE transactions open-market buys or part of compensation?

The BPRE transactions are coded J (Other acquisition or disposition) and carry a footnote that they consist of shares granted in conjunction with the trustees' compensation plan, indicating they are trustee compensation grants rather than open-market purchases.

Q: Does this BPRE Form 4 indicate sales or only acquisitions?

The Form 4 for BPRE shows only acquisitions. All three non-derivative transactions have an acquired/disposed code of A and a transaction direction of acquire, with no reported sales or dispositions.

Bluerock Private Real Estate Fund (BPRE) reports that trustee Kamal Jafarnia acquired common shares of beneficial interest in three non-open-market transactions coded as "other acquisition or disposition" (Code J).

Filing Impact

(Neutral)

Filing Sentiment

(Neutral)

Form Type

Rhea-AI Filing Summary

Bluerock Private Real Estate Fund (BPRE) reports that trustee Kamal Jafarnia acquired common shares of beneficial interest in three non-open-market transactions coded as "other acquisition or disposition" (Code J). These awards, totaling 378.12 shares at $13.22 on June 30, 2026, 301.02 shares at $16.61 on March 31, 2026, and 333.33 shares at $15.00 on December 31, 2025, were granted in conjunction with the trustees' compensation plan and are held as direct ownership.

Insider Trade Summary

Other: 1,012.47 shares

Other 3 txns

Insider Jafarnia Kamal

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 — 3,887.86 shares (Direct)

Footnotes (1)

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

Key Figures

Shares acquired (2026-06-30): 378.1200 common shares of beneficial interest Price per share (2026-06-30): $13.2200 per share Shares acquired (2026-03-31): 301.0200 common shares of beneficial interest +4 more

7 metrics

Shares acquired (2026-06-30) 378.1200 common shares of beneficial interest Code J acquisition on June 30, 2026, at $13.2200 per share

Price per share (2026-06-30) $13.2200 per share Applied to 378.1200 common shares of beneficial interest

Shares acquired (2026-03-31) 301.0200 common shares of beneficial interest Code J acquisition on March 31, 2026, at $16.6100 per share

Price per share (2026-03-31) $16.6100 per share Applied to 301.0200 common shares of beneficial interest

Shares acquired (2025-12-31) 333.3300 common shares of beneficial interest Code J acquisition on December 31, 2025, at $15.0000 per share

Price per share (2025-12-31) $15.0000 per share Applied to 333.3300 common shares of beneficial interest

Restructuring shares total 1012.47 shares Total shares across 3 Code J restructuring acquisitions per transaction summary

Key Terms

Common Shares of Beneficial Interest, Trustee, Section 16(a) Filings, Code J

4 terms

Common Shares of Beneficial Interest financial

"security_title is listed as 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.

Trustee financial

"reporting person Kamal Jafarnia is identified as Trustee"

A trustee is a person or institution legally appointed to hold and manage assets or enforce an agreement on behalf of other people (beneficiaries). Think of a trustee as a neutral referee or custodian who must act in the beneficiaries’ best interests, follow the trust or contract rules, and handle distributions, recordkeeping and enforcement. Investors care because a trustworthy trustee protects their rights, ensures promised payments or remedies are delivered, and can influence recoveries if things go wrong.

Section 16(a) Filings regulatory

"Limited Power of Attorney for Section 16(a) Filings, dated 7-19-22"

Code J financial

"transaction_code J with description Other acquisition or disposition"

FAQ

Who is the insider involved in this Form 4 for BPRE?

The Form 4 for BPRE relates to Kamal Jafarnia, identified as a Trustee of Bluerock Private Real Estate Fund, reporting acquisitions of common shares of beneficial interest through trustee compensation grants.

What transactions did Kamal Jafarnia report for BPRE on June 30, 2026?

On June 30, 2026, Kamal Jafarnia acquired 378.12 common shares of beneficial interest of BPRE at $13.22 per share in a Code J transaction, consisting of shares granted under the trustees' compensation plan and held as direct ownership.

What BPRE grant was reported for December 31, 2025?

For December 31, 2025, Kamal Jafarnia reported acquiring 333.33 BPRE common shares of beneficial interest at $15.00 per share in a Code J transaction, with the footnote explaining the shares were granted under the trustees' compensation plan.

Are the reported BPRE transactions open-market buys or part of compensation?

The BPRE transactions are coded J (Other acquisition or disposition) and carry a footnote that they consist of shares granted in conjunction with the trustees' compensation plan, indicating they are trustee compensation grants rather than open-market purchases.

Does this BPRE Form 4 indicate sales or only acquisitions?

The Form 4 for BPRE shows only acquisitions. All three non-derivative transactions have an acquired/disposed code of A and a transaction direction of acquire, with no reported sales or dispositions.

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

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Available on EDGAR 08/27/2026 - 06:29 PM Accepted by SEC EDGAR 08/27/2026 - 06:28 PM

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^*

Jafarnia Kamal

(Last)

(First)

(Middle)

919 THIRD AVENUE

40TH FLOOR

(Street)

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)
1. Title of Security (Instr. 3)	2. Transaction Date (Month/Day/Year)	2A. Deemed Execution Date, if any (Month/Day/Year)	Code	V	Amount	(A) or (D)	Price		6. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	7. Nature of Indirect Beneficial Ownership (Instr. 4)
Common Shares of Beneficial Interest	12/31/2025		J⁽¹⁾		333.33	A	$15	3,156.27	D
Common Shares of Beneficial Interest	03/31/2026		J⁽¹⁾		301.02	A	$16.61	3,457.29	D
Common Shares of Beneficial Interest	06/30/2026		J⁽¹⁾		378.12	A	$13.22	3,887.86	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)
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)	Code	V	(A)	(D)	Date Exercisable	Expiration Date	Title	Amount or Number of Shares	8. Price of Derivative Security (Instr. 5)		10. Ownership Form: Direct (D) or Indirect (I) (Instr. 4)	11. Nature of Indirect Beneficial Ownership (Instr. 4)

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 7-19-22

	/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)

Source: View Original Filing on SEC EDGAR