Bluerock Capital Markets Hires Industry Veteran Corey Silva, CIMA, CIMC, as Senior Regional Vice President of the Northern California/Nevada/Hawaii Region
New York, NY (July 6, 2022) – Bluerock Capital Markets (“BCM” or “Company”), a distributor of institutional alternative investment products and the dedicated dealer manager for Bluerock (“Bluerock”), announced today that it has hired Corey Silva, CIMA®, CIMC as Senior Regional Vice President of the Northern California/Nevada/Hawaii region. In his role, Mr. Silva will be responsible for supporting the strategic development of Bluerock’s private equity and credit, DST/1031, and 40 Act fund investment programs offered through the broker-dealer, registered investment advisor, and wirehouse distribution channels.
Mr. Silva joins BCM during a period of significant growth in sales and distribution across its investment product suite, which includes Bluerock’s flagship institutional 1940 Act interval fund, Bluerock Total Income+ Real Estate Fund, Bluerock High Income Institutional Credit Fund, Bluerock Industrial Growth REIT and Bluerock Value Exchange’s 1031-Exchange programs.
“Corey is one of the most well-known and accomplished securities professionals in the industry. His celebrated career spans over three decades with performance and thought leadership every step of the way. His consultative approach with his client advisors is a perfect match for Bluerock Capital Markets and we are delighted to welcome Corey to our Team of leading professionals” said Jeffrey S. Schwaber, CEO of Bluerock Capital Markets.
Mr. Silva brings more than 30 years of capital markets experience to his role at BCM. Prior to joining BCM, Mr. Silva spent more than 21 years as the Associate Managing Director at MFS Investment Management where he was inducted into the “More Than Your Share” Hall of Fame, amongst other accomplishments. Prior to MFS, Mr. Silva served as vice president of distribution at Evergreen Funds and in the same capacity at State Street Research Investment Management. Prior to that, Mr. Silva worked in marketing and distribution and as a national account manager at GT Global Financial Services. Mr. Silva began his career in 1988, serving in Norway and Germany. Mr. Silva currently serves as a board member of the East Bay Financial Planning Association, is an alumnus of the National Speakers Association and is a current “Annual Conference Experience” (ACE) planning committee member with the Investments & Wealth Institute (I.W.I.). Before that, Mr. Silva was a member of the Audio Broadcast Committee for the Investment Management Consultants Association and sat on the editorial advisory board of the “Investments & Wealth Monitor”, a bimonthly publication of the Investments & Wealth Institute.
Mr. Silva earned his degree with Dean’s List Honors in business administration from California State University, East Bay. He holds the Certified Investment Management Analyst® (CIMA) and the Certified Investment Management Consultant (CIMC) designations and FINRA Series 6, 7, and 63 securities licenses.
About Bluerock Capital Markets
Bluerock Capital Markets, LLC (BCM) serves as the managing broker dealer for Bluerock and is a member of FINRA/SIPC. Formed in 2010, BCM distributes a broad range of institutional investment products with potential for growth, income, and tax benefits exclusively through broker dealers and investment professionals. BCM was a top five capital fundraiser over the prior 3-year period (2019-2021) among all active managing broker dealers in the Direct Investments Industry (Source: Robert A. Stanger Market Pulse).
Bluerock is a leading institutional alternative asset manager with more than $14 billion of acquired and managed assets headquartered in Manhattan with regional offices across the U.S. Bluerock principals have a collective 100+ years of investing experience with more than $48 billion real estate and capital markets experience and have helped launch leading private and public company platforms.
About Bluerock Total Income+ Real Estate Fund
The Bluerock Total Income+ Real Estate Fund offers individual investors access to a portfolio of institutional real estate securities managed by top-ranked fund managers. The Fund seeks to provide a comprehensive real estate holding designed to provide a combination of current income, capital preservation, long-term capital appreciation and enhanced portfolio diversification with low to moderate volatility and low correlation to the broader equity and fixed income markets. The Fund utilizes an exclusive partnership with Mercer Investment Management, Inc., the world’s leading advisor to endowments, pension funds, sovereign wealth funds and family offices globally, with over 3,300 clients worldwide, and over $17 trillion in assets under advisement.
About Bluerock High Income Institutional Credit Fund
The Bluerock High Income Intuitional Credit Fund offers individual investors access to private credit, a rapidly growing institutional asset class. The Fund seeks to provide high current income, while secondarily seeking attractive, long-term risk-adjusted returns, with low correlation to the broader markets. The Fund has partnered with WhiteStar Asset Management, LLC, whose management team has overseen the issuance of $40 billion in CLOs since 2001.
About Bluerock Value Exchange
Bluerock Value Exchange is a national sponsor of syndicated 1031-exchange offerings with a focus on Premier Exchange Properties™ that seek to deliver stable cash flows and potential for value creation. Bluerock has structured 1031 exchanges on approximately $2 billion in total property value and 11 million square feet of property.
About Bluerock Industrial Growth REIT
Bluerock Industrial Growth REIT, Inc. (BIG) is a private, non-traded real estate investment trust (REIT) that acquires class A and B industrial properties including distribution centers, warehouses, logistics and light manufacturing industrial properties, primarily in growth markets across the United States. BIG has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.
Bluerock Industrial Growth REIT and Bluerock Value Exchange’s programs are offered by Bluerock Capital Markets, LLC.
Investors should carefully consider the investment objectives, risks, sales charges and expenses of the Bluerock Total Income + Real Estate Fund and the Bluerock High Income Institutional Credit Fund (the ‘Funds”) before investing. This and other important information about the Funds is contained in their prospectus, which can be obtained by visiting the respective Funds websites referenced above. The prospectus should be read carefully before investing.
An investment in any share class of the Funds represents an investment in the same assets of the Funds. However, the purchase restrictions and ongoing fees and expenses for each share class are different – See “Summary of Fund Expenses” – located in the Funds’ prospectus. If an investor has hired an intermediary and is eligible to invest in more than one class of shares, the intermediary may help determine which share class is appropriate for that investor. When selecting a share class, you should consider which Share classes are available to you, how much you intend to invest, how long you expect to own shares, and the total costs and expenses associated with a particular share class. You should speak with your financial advisor to help you decide which share class is best for you.
Past performance is not a guarantee of future results. The ability of the Funds to achieve their investment objective depends, in part, on the ability of the Advisor, and Sub-Advisor, as applicable, to allocate effectively the Funds’ assets across the various asset classes in which they invest and to select investments in each such asset class. There can be no assurance that the actual allocations will be effective in achieving the Funds’ investment objective or delivering positive returns. There is no guarantee that the Funds’ investment strategies will work under all market conditions. Statements related to the performance of the Funds contained herein are historical and the Funds’ performance subsequent to the date as of which such statements were made may differ materially.
The Funds are closed-end interval funds, the shares have no history of public trading, nor is it intended that the shares will be listed on a public exchange at this time. No secondary market is expected to develop for the Funds’ shares. Limited liquidity is provided to shareholders only through the Funds’ quarterly repurchase offers for no less than 5% of the Funds’ shares outstanding at net asset value. There is no guarantee that shareholders will be able to sell all of the shares they desire in a quarterly repurchase offer. Since inception, the Bluerock Total Income+ Fund has made 38 repurchase offers, of which 33 have resulted in the repurchase of all shares tendered, four have resulted in the repurchase of less than all shares tendered, and one is pending. In connection with the February 2022 repurchase offer, the Fund repurchased all shares tendered for repurchase. Quarterly repurchases by the Funds of their shares typically will be funded from available cash or sales of portfolio securities. The sale of securities to fund repurchases could reduce the market price of those securities, which in turn would reduce the Funds’ net asset value. The Funds are suitable only for investors who can bear the risks associated with the limited liquidity of the Funds and should be viewed as a long-term investment.
Investors in the Funds should understand that the net asset value (“NAV”) of the Funds will fluctuate, which means the value of your shares at any point in time may be worth less than the value of your original investment, even after taking into account any reinvestment of dividends and distributions. An investment in shares represents an indirect investment in the securities owned by the Funds. The value of these securities, like other market investments, may move up or down, sometimes rapidly and unpredictably. The Funds are “non-diversified” under the Investment Company Act of 1940 and therefore may invest more than 5% of their total assets in the securities of one or more issuers. As such, changes in the financial condition or market value of a single issuer may cause a greater fluctuation in the Funds’ net asset value than in a “diversified” fund. The Funds are not intended to be a complete investment program.
Bluerock Total Income+ Real Estate Fund
A significant portion of the Fund’s underlying investments are in private real estate investment funds managed by institutional investment managers (“Institutional Investment Funds”). Investments in Institutional Investment Funds pose specific risks, including: such investments require the Fund to bear a pro rata share of the vehicles’ expenses, including management and performance fees; the Advisor and Sub-Advisor will have no control over investment decisions may by such vehicle; such vehicle may utilize financial leverage; such investments have limited liquidity; the valuation of such investment as of a specific date may vary from the actual sale price that may be obtained if such investment were sold to a third party.
Additional risks related to an investment in the Fund are set forth in the “Risk Factors” section of the prospectus, which include, but are not limited to the following: convertible securities risk; correlation risk; credit risk; fixed income risk; leverage risk; risk of competition between underlying funds; and preferred securities risk All potential investors should read the Risk Factors section of the prospectus for additional information related to the risks associated with an investment in the Fund.
Bluerock High Income Institutional Credit Fund
The Fund is newly organized and as a result it has no pricing and performance history.
Because the Fund invests primarily in debt-anchored instruments and securities, the value of your investment in the Fund may fluctuate with changes in interest rates.
The Fund may invest in senior secured debt and Collateralized Loan Obligations (CLOs). Substantial increases in interest rates may cause an increase in loan defaults and the value of the Fund’s assets may also be affected by other uncertainties such as economic developments affecting the market for senior secured term loans or uncertainties affecting borrowers generally. There is a risk that the borrowers under the Senior Secured Loans may not make scheduled interest and/or principal payments on their loans and/or debt securities, which may result in losses or reduced cash flow to the Fund, either or both of which may cause the NAV of, or the distributions by, the Fund to decrease.
CLOs carry additional risks, including but not limited to (i) the possibility that distributions from collateral will not be adequate to make interest or other payments; (ii) the quality of the collateral may decline in value or default; (iii) the possibility that the Fund’s investments in CLOs are subordinate to other classes or tranches thereof; and (iv) the complex structure of the CLO investment may not be fully understood at the time of investment and may produce disputes with the issuer, holders of senior tranches or other unexpected investment results.
Additional risks related to an investment in the Fund are set forth in the “Risk Factors” section of the prospectus, which include, but are not limited to the following: credit risk (the debtor may default), liquidity risk (the investment may not be able to be sold at an advantageous time or price) and prepayment risk (the debtor may pay its obligation early, reducing the amount of interest payments). All potential investors should read the Risk Factors section of the prospectus for additional information related to the risks associated with an investment in the Fund.
The Bluerock Total Income+ Fund and the Bluerock High Income Institutional Credit Fund are distributed by ALPS Distributors, Inc. (ALPS). Bluerock Fund Advisor, LLC is not affiliated with ALPS.