NEW YORK, June 2, 2020 /PRNewswire/ -- Bluerock Residential Growth REIT, Inc. (NYSE: BRG) (the "Company" or "BRG") today provided a quarter-to-date update on rent collections and occupancy.
Rent Collections and Occupancy
On a preliminary basis, quarter-to-date for the second quarter of 2020, the Company reported rent collections from its multifamily properties of 97%, including payment plans of 1.5%.
The Company's operating portfolio occupancy at May 31, 2020 remained unchanged month-over-month at approximately 94%. The Company believes this stable occupancy is reflective of its stated strategy of targeting highly amenitized, live/work/play apartment communities in knowledge-based job economies; such as health care, technology, education, sciences, and finance sectors.
The Company will present at NAREIT's REITweek 2020 Virtual Investor Conference on Wednesday, June 3rd at 9:00 am ET. To listen to the presentation, interested parties need to register at www.reit.com.
About Bluerock Residential Growth REIT, Inc.
Bluerock Residential Growth REIT, Inc. (NYSE American: BRG) is a real estate investment trust that focuses on developing and acquiring a diversified portfolio of institutional-quality highly amenitized live/work/play apartment communities in demographically attractive knowledge economy growth markets to appeal to the renter by choice. The Company's objective is to generate value through off-market/relationship-based transactions and, at the asset level, through value-add improvements to properties and to operations. The Company is included in the Russell 2000 and Russell 3000 Indexes. BRG has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes.
For more information, please visit the Company's website at www.bluerockresidential.com.
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Company's present expectations, but these statements are not guaranteed to occur. 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 set forth in Item 1A of the Company's Annual Report on Form 10-K filed by the Company with the U.S. Securities and Exchange Commission ("SEC") on February 24, 2020, and subsequent filings by the Company with the SEC. We claim the safe harbor protection for forward looking statements contained in the Private Securities Litigation Reform Act of 1995.
SOURCE Bluerock Residential Growth REIT, Inc.