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Bluerock Residential Growth REIT 8.25% Series A Cumulative Redeemable Preferred Stock (Puttable After 10/2022)

By: ,

Date Issued   10/16/2015

Shares Issued  2,500,000   Overallotment Shares  375,000

S&P Rating   NR   Moodys Rating   NR

Security Ticker Symbol   BRG-A  OTC Temp Ticker  BLPPP

Market Traded ON   NYSE

Dividend Payment Paid on the 5th of January, April, July and October beginning on 1/5/2016

Quarterly Dividend   .516  Annual Dividend   2.0625

Commencing in 10/2022 if the issue is not redeemed the dividend rate will be reset to 8.25% plus 2% of par (in 2022 the rate will be 10.25%), the rate will increase 2% of par (50 cents) on each anniversary date subject to a maximum of 14%.

Securities may be redeemed, at the issuers option, as early as 10/20/2020  the call price is $25 plus accrued dividends.

Dividend Payment will NOT be Qualified Distributions (Dividends of REITs are not qualified)

Maturity Date   None

NOTE–beginning in 10/2022 holders may, at their option, elect to have their shares redeemed at $25/share plus accrued dividends OR in common shares, or in any combination at the option of the company. 

Additionally Bluerock will be required to maintain a asset coverage ratio of 200% as defined in the prospectus.

 

Company Investor Relations Page for Bluerock Residential Growth REIT

Click Here where you can find the offering Prospectus

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