Bluerock Private Real Estate Fund (ticker: BPRE) is the only New York Stock Exchange-listed closed-end fund offering investors dedicated access to private real estate. The Fund is the largest real estate-focused closed-end fund on the market and is designed to deliver strong, consistent tax-advantaged income while also pursuing attractive long-term capital appreciation. Following its December 2025 listing, BPRE has been executing on its strategic roadmap plan to maximize shareholder value by rotating capital into specialty real estate sectors we believe offer high-growth opportunities, and consistently raising distributions.
Net Asset Value per share of BPRE common shares
Daily market price is determined using the last traded price on the NYSE
Market distribution rate is calculated by annualizing the most recent declared monthly distribution and dividing by the Fund's closing price on the NYSE for
Tax-Equivalent
Distribution Rate (%)The tax-equivalent distribution rate is the rate a fully taxable investment needs in order to equal the after-tax rate on a comparable tax-advantaged investment. The example assumes 37% maximum federal income tax rate and includes the 3.8% Medicare surtax that is applied to the net investment income above certain thresholds. It also includes a 5% average state tax rate. Tax equivalent distribution rate is calculated based on a 67% ROC. 67% is the Fund average (2013-2024} return of capital ("ROC') and non-dividend distribution portion of distributions. ROC, for tax purposes, should be distinguished from an economic return of capital, where an investor is repaid out of its own contributions rather than from the economic profits of the investment. As a tax law concept, an ROC is not tied to an investment's financial performance. ROC distributions reduce the stockholder's tax basis in the year the dividend is received. The stockholder's tax basis may be reduced by ROC distributions in the year the distribution is received and generally defer taxes on that portion until the stockholder's stock is sold. Upon sale, the investor will calculate their gain by reference to the lower cost basis attributable to the ROC distributions, which gain may be subject to tax at capital gain rates.
AS OF 8/5/2026
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About Bluerock
Bluerock, BPRE’s sponsor, is a leading institutional alternative asset manager based in New York with regional offices across the U.S. Bluerock principals have a collective 100+ years of investing experience with more than $120 billion real estate and capital markets experience and manage multiple well-recognized real estate private and public company platforms. Today, Bluerock has more than $20 billion in acquired, managed, and disposed assets and offers a complementary suite of public and private investment programs, with both short and long-term goals, to individual investors seeking solutions aimed at providing predictable income, capital growth, and tax benefits.
2002
Founded
$20.1B
Acquired, Managed, & Disposed Assets
Includes all direct and indirect real estate and credit assets acquired, managed and disposed through investments sponsored by Bluerock and its affiliates as of March 31, 2026
230,000+
Shareholders
Top Holdings
As of 7.31.2026
| Name | Sector | % of Gross Assets |
| Direct Real Estate Investments | Diversified Credit / Multi Sector | 20.4% |
| CBRE Logistics | Industrial | 7.3% |
| IQHQ - Warrant Exercised Equity* | Life Sciences | 5.1% |
| IQHQ - Equity | Life Sciences | 2.6% |
| Ares Industrial | Industrial | 5.4% |
| Cortland | Residential | 5.1% |
| Name | Sector | % of Gross Assets |
| Brookfield Premier Real Estate Partners | Diversified / Multi Sector | 4.6% |
| H/2 Special Opportunities Fund | Diversified Credit | 3.8% |
| Carlyle Property Investors | Diversified / Multi Sector | 3.5% |
| Prudential PRISA III | Diversified / Multi Sector | 2.9% |
| Prudential PRISA II | Diversified / Multi Sector | 2.7% |
| Name | Sector | % of Gross Assets |
| Direct Real Estate Investments | Diversified Credit / Multi Sector | 20.4% |
| CBRE Logistics | Industrial | 7.3% |
| IQHQ - Warrant Exercised Equity* | Life Sciences | 5.1% |
| IQHQ - Equity | Life Sciences | 2.6% |
| Ares Industrial | Industrial | 5.4% |
| Cortland Growth & Income Fund | Residential | 5.1% |
| Brookfield Premier Real Estate Partners | Diversified / Multi Sector | 4.6% |
| H/2 Special Opportunities Fund | Diversified Credit | 3.8% |
| Carlyle Property Investors | Diversified / Multi Sector | 3.5% |
| Prudential PRISA III | Diversified / Multi Sector | 2.9% |
| Prudential PRISA II | Diversified / Multi Sector | 2.7% |
* This portion of the IQHQ equity position was a result of exercised warrants and not originally purchased as a pure equity position
The mention of specific securities is not a recommendation or solicitation to buy, sell, or hold any particular security. Weights may vary over time and holdings are subject to change without notice. Top ten holdings are determined on the basis of the value of individual securities held. The Fund may also hold positions in other types of securities issued by the companies listed above. The organizations referenced above are not invested in Bluerock or Bluerock Private Real Estate Fund.
Key Facts
| Ticker | BPRE |
| Structure | Closed-end fund |
| CUSIP | 09631P 102 |
| Advisor | Bluerock Fund Advisor, LLC |
| Fund Inception Date1 | October 22, 2012 |
| Liquidity | Publicly traded on the NYSE |
| Tax Reporting | Form 1099 |
| Distribution Frequency2 | Monthly |
¹ The Fund launched on October 22, 2012, the share class that was changed to BPRE had an inception date of April 1, 2014. BPRE listed on the NYSE, December 16, 2025.
² The payment of future distributions on BPRE’s common shares is subject to the discretion of BPRE’s board of directors and applicable legal restrictions and, therefore, there can be no assurance as to the amount or timing of any such future distributions.
