Investment Holdings

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:

$228B

GROSS ASSET VALUE

~4,500

PROPERTIES

93%

OCCUPANCY¹

31%

WEIGHTED AVERAGE LOAN-TO-VALUE²

As of March 31, 2021

Sector Diversification

37%

INDUSTRIAL

30%

APARTMENT

15%

SPECIALTY

13%

OFFICE

5%

RETAIL

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.

40%

WEST

32%

CENTRAL/SOUTH

28%

EAST

~4,500

PROPERTIES

The regions and allocations presented above represent the Funds’ institutional fund investments as of the date herein, but is subject to change at any time.

Manager Diversification

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.

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.