Investment Holdings

Fund Assets Under Management: $5.42 Billion
Exposure to Underlying Portfolio: One of the Largest Diversified Institutional Real Estate Portfolios

Bluerock Total Income+ Real Estate Fund (“Fund”) pursues its objectives by diversifying through a multi-manager, multi-strategy, and multi-sector investment approach.* To date, the Fund has made investments into underlying securities that collectively include:

$380B

Gross Asset Value

7,100+

Properties

93%

Occupancy¹

32%

Weighted Average Loan-To-Value²

As of December 31, 2023

Sector Diversification

43%

Industrial

27%

Apartment

15%

Life Science

9%

Specialty

4%

Office

2%

Retail

Specialty includes self storage, student housing, senior housing, medical office, and land properties.

Geographic Diversification

Investments in top tier markets across the nation reduce reliance on any one city or state and provide the ability to capture well performing submarkets in multiple regions.

42%

West

31%

Central

27%

East

7,100+

Properties

The underlying sector and geographic diversification statistics presented herein reflects the Fund’s weighted average ownership in the underlying investments.

Portfolio Holdings

Different property sectors have different demand drivers and cycles. Historically, diversification has helped limit the downside of any one sector while attempting to capture growth cycles in other sectors.

The sector diversification presented above represents examples of how the Funds’ institutional fund investments are allocated as of the date herein, but is subject to change at any time.

* The Fund’s primary investment objective is to generate current income while secondarily seeking long-term capital appreciation with low to moderate volatility and low correlation to the broader markets.

¹ Occupancy rates reported from underlying managers, average is the simple average of all private funds. Generally excludes properties under construction, but generally includes properties in lease-up.

² Weighted average loan to value: outstanding loan balance divided by the total value of the underlying real estate.