About Us

Bluerock Capital Markets, LLC serves as the managing broker dealer for Bluerock, LLC and is a member of the Financial Industry Regulatory Authority (FINRA) and the Securities Investor Protection Corporation (SIPC). Formed in 2010, BCM is comprised of highly-seasoned, multi-decade securities professionals and is an established industry leader in equity capital raise for Bluerock sponsored funds. BCM seeks to provide educational information, consultative support and operational service related to real estate, credit and alternative investment opportunities for financial advisors and their clients. BCM distributes a broad range of institutionally structured alternative investment products through an extensive selling group of banks, trust companies, independent broker dealers, regional member firms, wirehouse firms, registered investment advisors, family offices and institutional investors.

Jeffrey S. Schwaber – Chief Executive Officer

Mr. Schwaber serves as the Chief Executive Officer of Bluerock Capital Markets and oversees the company’s capital markets, securities sales and distribution operations. As a 38-year veteran of the securities industry, Jeff brings a wealth of executive-level experience to Bluerock.

Jeff’s diverse career accomplishments include senior executive roles in several key areas of the investment and securities industries. Prior to joining Bluerock, Jeff served as President and Head of Distribution for Griffin Capital and EVP and Head of Distribution for Behringer Harvard. Since 2003, Jeff has overseen the equity raise of over $24 billion, making him one of the most successful and highest capital raising executives in the history of the alternative investment industry. He was also President and Chief Operating Officer of a publicly-listed NASDAQ corporation, and Senior Vice President of Houlihan, Lokey, Howard and Zukin, an M&A and valuation leader in investment banking, giving him unique perspective into the inside world of public capital markets and corporate finance.

Earlier in his career, Jeff was President and CEO of Lifetime Asset Management, Inc., a financial advisory practice focusing on sophisticated wealth accumulation and wealth transfer strategies for ultra-high net worth individuals and corporate clients. Having owned his own successful financial advisory firm, he is intimately familiar with the needs of the financial advisors with whom he interacts daily. Jeff started his securities career wholesaling, later becoming the National Sales Director for Star Partners, the largest independent financier of major motion pictures in the world, financing Warner Bros and MGM/United Artists films including Rain ManMoonstruckThelma and Louise, A Fish Called WandaThe Color PurpleOverboard, Spies Like Us, Little Shop of Horrors, Heartbreak RidgeSuperman IIIII and IVRocky V, James Bond’s License to Kill and dozens of others, credited with Academy Award wins in every major category including Best Picture, Best Director, Best Actor, Best Actress, Best Screenplay, Best Musical Score and others. Known industry-wide as a distinguished and entertaining speaker, he is frequently invited to present and keynote at major broker dealer and investment industry conferences. He has also been a regularly invited guest on CNBC including interviews with both Ron Insana and Neil Cavuto, Fox Business News’ The Claman Countdown with Liz Claman, TD Ameritrade Network with Oliver Renick, Barron’s, and Financial Planning.

Jeffrey G. Klepacki – Executive Vice President / National Sales Manager

Jeffrey Klepacki serves as Executive Vice President and National Sales Manager. In this role, Mr. Klepacki is responsible for supervising and managing the company’s senior national sales teams and supporting the strategic growth and development of Bluerock investment programs across all intermediary distribution channels including the independent broker-dealer, RIA/family office, bank trust, regional member firm and wirehouse distribution channels. Mr. Klepacki directly oversees the growth of Bluerock offered investment programs with key 3rd party distribution partner platforms. 

Mr. Klepacki brings more than 23 years of securities industry experience and 16 years of sales management experience to his role at Bluerock. Prior to joining BCM, Mr. Klepacki held prominent senior distribution roles with some of the largest asset management firms in the industry including Vontobel, Aberdeen Standard, Capital Group/American Funds, Delaware Investments and Allianz Global Investors. In his new executive role, Mr. Klepacki will report directly to BCM’s CEO Jeffrey Schwaber. 

Mr. Klepacki resides in New Jersey and is a three-time Olympian who represented the United States in three Olympic Games (Barcelona 1992, Atlanta 1996 and Sydney 2000) on the men’s rowing team as well as in multiple World Championships. He earned his Bachelor’s degree in Economics from Rutgers University and holds FINRA Series 7, 24, 63 and 65 securities licenses. 

Kamala Connors – Chief Compliance Officer

Ms. Connors serves as Chief Compliance Officer at Bluerock Capital Markets, LLC, a FINRA member broker dealer specializing in the structuring and distribution of high-quality real estate and real estaterelated investments. Ms. Connors responsibilities include the creation, adoption, and adherence to the multi-jurisdictional compliance requirements of the firm. She joined in 2020.

Prior to Bluerock Capital Markets, Ms. Connors spent seven years working as a compliance consultant advising a diverse client portfolio of over 50 broker dealers and/or registered investment advisors to ensure compliance with applicable securities requirements and regulations. She began her career in the financial industry in 2009 as the Research Coordinator at a full-service investment bank where she reviewed and published all proprietary equity research.

Ms. Connors graduated with a Bachelor of Arts Degree in Communications from California State University, Fullerton and holds the Certified Regulatory and Compliance Professional (CRCP) designation from the FINRA Institute at Georgetown University. In addition, she holds FINRA Series 7, 24, 63 and 99 licenses.

Josh Hoffman – President, Bluerock Value Exchange / Managing Director, Due Diligence and Marketing

Mr. Hoffman serves as President of Bluerock Value Exchange and Managing Director, Due Diligence and Marketing for Bluerock Capital Markets which he joined in 2009.

Mr. Hoffman has extensive securities issuer experience overseeing product structuring, securities operations, marketing and due diligence of multiple product structures including: public, closed-end interval funds, publicly traded REITs, private and public non-traded REITs, 1031 exchange, and regulation D programs with total capital raise experience in excess of $4 billion.

Mr. Hoffman received his B.A in Business Administration from Boise State University. He currently holds FINRA Series 7 and 63 licenses.

 

Emily Calcagno – Executive Vice President, Head of National Accounts

Ms. Calcagno brings more than 20 years of capital markets experience to her role as Executive Vice-President, Head of National Accounts. Prior to joining Bluerock Capital Markets, Ms. Calcagno held multiple leadership roles, most recently as Head of National Accounts for Morgan Stanley Investment Management from 2011-2018.

From 2008-2010, Ms. Calcagno served as Vice President, Relationship Management for RiverSource Investments. From 1999-2008. Ms. Calcagno served as Senior Vice President, Director Relationship Management for J&W Seligman.

Ms. Calcagno earned her B.A. in Economics from Trinity College (Hartford, CT) and maintains an active Certified Investment Management Analyst (CIMA) designation and FINRA registrations 7, 24, and 63.

Jason Emala - General Counsel

Mr. Emala brings more than 15 years of legal experience to his role as General Counsel at Bluerock Capital Markets.  Prior to joining Bluerock Capital Markets, Mr. Emala held senior legal positions at a number of sponsors/broker-dealers in the alternative investment space, including Cantor Fitzgerald and RCS Capital.  Prior to these roles, Mr. Emala was a securities lawyer at international law firms White & Case, LLP and Fried, Frank, Harris, Shriver & Jacobson LLP.

Mr. Emala earned a B.S. in Finance from the University of Maryland, College Park, a J.D. from the George Washington University Law School and an LLM in Securities and Financial Regulation from the Georgetown University Law Center.  Mr. Emala maintains a FINRA Series 14 license.

 

Deron Richens – SVP, Head of Internal Sales

Mr. Richens brings more than 20 years of capital markets experience to his role as Senior Vice President, Head of Internal Sales. Prior to joining Bluerock Capital Markets, Mr. Richens held multiple leadership roles, most recently as Head of Internal Sales for Griffin Capital Securities from 2012-2017. 

From 1998-2010, Mr. Richens worked for two of the largest US based Insurance companies, AXA/Equitable and MetLife and served in Senior Vice President, Sales Resource Center for Annuities, Life Insurance and LTC Insurance, leading multiple sales desks based in Irvine, CA, Hartford, CT and St Louis, MO. 

Mr. Richens earned his B.S. in Finance, Real Estate & Law from California State Polytechnic University, Pomona and maintains FINRA registrations Series 7, 24, and 63.