Bluerock Residential Growth REIT, Inc. completed the Spin-Off of Bluerock Homes Trust, Inc..
October 05, 2022
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The Board of Bluerock Residential Growth REIT, Inc. (NYSEAM:BRG) announced the spin-off of Bluerock Homes Trust, Inc. for on December 20, 2021. As per the transaction, each BRG shareholder will receive one share of BHM Class A or Class C common stock, as applicable, for every eight shares of BRG's Class A or Class C common stock held as of the close of business on the record date, which will be September 29, 2022. Bluerock Residential Growth REIT, Inc. Parties entered into a Separation and Distribution Agreement on October 5, 2022. Beginning on or around September 28, 2022, BHM Class A Common Stock is expected to begin trading on a when-issued basis on the New York Stock Exchange American under the ticker symbol BHM WI. The transaction is unanimously approved by the Company's board of directors. On September 26, 2022, a registration statement on Form 10 became effective. Transaction subject to the Bluerock Homes common stock to be distributed having been approved for listing on the NYSE American, subject to official notice of distribution; the execution of ancillary agreements by us and Bluerock Residential, including the Tax Matters Agreement; and other customary closing conditions. The transaction is expected to close on October 6, 2022. As of October 6, 2022, Bluerock Homes Trust, Inc. begin trading on the New York Stock Exchange American under the ticker "BHM". Computershare Trust Company, National Association acted as transfer agent and information agent to Bluerock Residential. Computershare Trust Company, National Association acted as transfer agent to Bluerock Homes.
Bluerock Residential Growth REIT, Inc. completed the Spin-Off of Bluerock Homes Trust, Inc. (NYSEAM:BHM) on October 6, 2022.
Bluerock Homes Trust, Inc. is an externally managed real estate investment trust (REIT) that owns and operates single-family properties, located primarily in markets in the Sunbelt and Western United States. The Company's principal objective is to generate attractive risk-adjusted investment returns by assembling a portfolio of pre-existing single-family rental homes and developing build-to-rent communities. It owns and operates residential investments that generate rental and other property-related income through the leasing of units to a diverse base of tenants. It has approximately 18 real estate investments, consisting of eleven consolidated investments and seven preferred equity and loan investments. The 18 investments represent an aggregate of approximately 4,059 residential units, comprised of 2,475 consolidated units, of which 170 units are under development, and 1,584 units through preferred equity and loan investments. The Company's manager is Bluerock Homes Manager, LLC.