Bluerock Residential Growth REIT (BRG) Posts Q1 AFFO of 13c/Share
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Bluerock Residential Growth REIT Announces First Quarter 2015 AFFO per share of $0.13 vs. Guidance of $0.10-$0.11 per share; Pro Forma AFFO per share of $0.29 vs. Guidance of $0.26 - $0.28
May 12, 2015 8:30 AM EDTNEW YORK, May 12, 2015 /PRNewswire/ --Â Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) ("the Company") announced today its financial results for the quarter ended March 31, 2015.
Highlights
Adjusted funds from operations ("AFFO") per share grew to $0.13 for the first quarter of 2015 from a deficit of ($0.48) for the first quarter of 2014. AFFO for the first quarter of $0.13 per share exceeded the Company's AFFO guidance of $0.10 to $0.11 per share. AFFO grew to $1.6 million for the quarter from a deficit of ($0.5) million for the prior year quarter.... MoreBluerock Residential Growth REIT Agrees to Invest in Class A 285-Unit Luxury Apartment Development Project in Atlanta
May 8, 2015 8:55 AM EDTNEW YORK, May 8, 2015 /PRNewswire/ --Â Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) ("BRG" or "the Company") today announced that it has approved an investment of approximately $15.0 million in a joint venture to develop a Class A, 285-unit apartment community in Atlanta, Georgia, to be known as the Cheshire Bridge Apartments ("Cheshire Bridge"). Situated in a highly desirable location directly adjacent to Atlanta's Buckhead and Midtown neighborhoods, Cheshire Bridge will be a five-story, luxury multifamily rental community on 3.88 acres. Total projected development costs are estimated at $48.2 million, or $169,000 per... More
