Bluerock Residential Growth REIT Inc (BRG) 2018年年度报告「NYSE」.pdf

1、Bluerock Residential Growth REIT is listed on the NYSE American Ticker:BRG,BRGpA,BRGpC,BRGpDAnnual Report 2018 Continued on page 2Letter from the CEODear Fellow Shareholders:2018 was an active and successful year for Bluerock Residential Growth REIT.Our management team,which is the largest sharehold

2、er of BRG,remains focused on our investment strategy:creating shareholder value by acquiring,renovating,and developing an institutional portfolio of highly amenitized live-work-play multifamily communities in knowledge economy-driven growth markets.We are pleased to report that in 2018 we continued

3、to execute successfully on our strategic objectives with very strong revenue,net operating income(NOI)and accretive portfolio growth,coupled with disciplined capital allocation.Portfolio performance remains robust and we can report a sizeable,actionable pipeline of accretive deals.Significantly,our

4、momentum on these fronts has continued into 2019.Demographic forecasts signal a long and strong tailwind for the multifamily sector.The National MultiFamily Housing Council(NMHC)estimates that nearly 4.6 million new rental units will be needed in the U.S.by 2030 and current levels of new supply will

5、 not meet this demand.We believe this bodes well for our growth as well as for our ability to deliver shareholder value.2018 HighlightsBRGs 2018 operating results were very strong,with best in class same-store revenue growth(4.5%)and top quartile same-store NOI growth(4.9%).We provided full year gui

6、dance for the first time last year and are pleased to report that we exceeded the high end of our guidance range.This outperformance is attributable to the very strong same-store NOI growth as well as to our ability to realize the earnings power of our portfolio from the more than$1.1 billion in inv