Bluerock Residential Growth REIT Inc (BRG) 2017年年度报告「NYSE」.pdf

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1、Bluerock Residential Growth REIT is listed on the NYSE American Ticker:BRG,BRGpA,BRGpC,BRGpD2017 Annual Report Continued on page 2Letter from the CEOTo Our Shareholders:2017 was a transformative year for Bluerock Residential Growth REIT(“BRG”)as we laid a solid foundation for the next stage of our g

2、rowth.As the largest shareholders of BRG common stock and equivalents,the management team remains singularly focused on creating shareholder value by acquiring,managing,and selectively developing an institutional quality portfolio of highly amenitized live-work-play multifamily communities in knowle

3、dge-economy,growth markets.We are pleased to report that portfolio performance remains strong and we continue to maintain a sizable pipeline of accretive deals through which to grow our earnings.Underlying multifamily fundamentals remain favorable with rental-biased millennials expected to drive sig

4、nificant new household formation over the next 15-years as new housing supply remains in line with the long term historical average.2017 MilestonesIn 2017 we crossed several important milestones related to the enhancement of our platform.These will enable us to better capitalize on favorable industr

5、y fundamentals and meet our growth objectives.Among the years accomplishments we highlight our(i)portfolio growth and refinement,(ii)balance sheet improvement,(iii)ongoing access to a unique source of growth capital,and(iv)management internalization.Portfolio Growth and Refinement BRG remains commit

6、ted to a disciplined capital allocation process.We seek high quality operating assets with core plus value creation opportunities,as well as development deals that present an opportunity for Bluerock to earn compelling returns while limiting our downside exposure via our mezzanine and preferred inve