New York, NY (PRWEB) October 08, 2014
The Company received approximately $33.1 million in total net proceeds from the offering after deducting underwriting discounts, commissions, fees and estimated offering expenses payable by the Company. The Company intends to use the net proceeds of the offering to invest in multifamily assets and for other general corporate and working capital purposes, which may include the funding of capital improvements at the Company’s properties.
Wunderlich Securities served as book-running manager for the offering. BB&T Capital Markets, Compass Point, D.A. Davidson & Co. and Janney Montgomery Scott served as co-lead managers for the offering, and Boenning & Scattergood, Inc. and National Securities Corporation served as co-managers for the offering.
A copy of the final prospectus relating to the offering may be obtained from the Securities and Exchange Commission's website at http://www.sec.gov or by contacting Wunderlich Securities, Inc., 6000 Poplar Avenue, Suite 150, Memphis, Tennessee 38119.
A registration statement relating to these securities was declared effective by the U.S. Securities and Exchange Commission on October 2, 2014. This press release shall not constitute an offer to sell or the solicitation of an offer to buy any of the offered securities, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction. The offering of these securities is being made only by means of a prospectus.
About Bluerock Residential Growth REIT, Inc.
Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) is a real estate investment trust formed to acquire a diversified portfolio of institutional-quality apartment properties in demographically attractive growth markets throughout the United States. The Company has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. Please visit the Company’s website at http://www.bluerockresidential.com.
Forward Looking Statements
This press release contains statements that are “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. Forward looking statements are statements that are not historical, including statements regarding management’s intentions, beliefs, expectations, representations, plans or predictions of the future, and are typically identified by such words as “believe,” “expect,” “anticipate,” “intend,” “estimate,” “may,” “will,” “should” and “could.” Because such statements include risks, uncertainties and contingencies, actual results may differ materially from those expressed or implied by such forward looking statements. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur, including, without limitation, the Company's proposed use of net proceeds. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the “Risk Factors” section of the prospectus, and in the Company’s annual and periodic reports and other documents filed with the SEC, copies of which are available on the SEC’s website, http://www.sec.gov.