NEW YORK, December 15, 2020 / PRNewswire / – Bluerock Residential Growth REIT, Inc. (NYSE: BRG) (the “Company” or “BRG”) today released an update on the rental collections and occupancy for November.
For the month of November, the company tentatively reported rental income from its apartment buildings of 97.5%, including payment plans of 0.2%.
Occupation of the company’s operational portfolio November 30, 2020 was approximately 95.3%.
The company’s continued stability is due to several factors, including its focus on knowledge-based markets, particularly in the South and West: the strategy of owning affordable luxury Class A apartments; and a tenancy that is optional for tenants in the knowledge economy, including those employed in the healthcare, technology, education, science and finance sectors. This section of the population is often characterized by healthier, more stable wage-rent conditions.
About Bluerock Residential Growth REIT, Inc.
Bluerock Residential Growth REIT, Inc. (NYSE American: BRG) is a real estate investment trust focused on developing and acquiring a diversified portfolio of highly skilled, institutional-quality residential, business and play-sharing communities in demographically attractive growth markets for the knowledge economy in order to be attractive to the tenant of choice. The company’s aim is to generate value through over-the-counter / relationship-based transactions and at the asset level through value creation improvements in real estate and businesses. The company is included in the Russell 2000 and Russell 3000 indices. BRG has decided to be taxed as a Real Estate Investment Trust (REIT) for US federal income tax purposes.
For more information, please visit the company’s website at www.bluerockresidential.com.
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based on the company’s current expectations, but there is no guarantee that these statements will occur. In addition, the company disclaims any obligation to publicly update or revise any forward-looking statements to reflect changes in underlying assumptions or factors, new information, data or methods, future events or other changes. Investors should not place undue reliance on forward-looking statements. Although the company believes that the expectations contained in these forward-looking statements are based on reasonable assumptions, actual results and performance of the company could differ materially from those expressed in these forward-looking statements due to numerous factors. Currently, one of the most important factors is the potential adverse impact of the COVID-19 pandemic on the financial position, results of operations, cash flow and performance of the company and its tenants, partners and employees, as well as the real estate market and the global economy and financial markets. The extent to which COVID-19 will affect the company and its tenants, partners and employees depends on future developments that are highly uncertain and cannot be predicted with certainty, including the scope, severity and duration of the pandemic and the measures to be taken to be taken to address the pandemic or its mitigation (including government measures that may vary by jurisdiction, such as mandatory business closures, stay-at-home orders, limiting group activity, and measures to protect tenants from eviction) as well as the direct and indirect economic impact of the pandemic and containment measures, including national and local employment rates and the corresponding impact on the company’s tenants’ ability to pay their rent on time or at all, among other things. For more information about the factors that could affect results, see the Risk Factors in Item 1A of the Company’s Annual Report on Form 10-K, which the Company has filed with the SEC February 24, 2020and subsequent filings of the company with the SEC. We claim safe harbor protection for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE Bluerock Residential Growth REIT, Inc.