Form 4: Bluerock Total Income Plus Real Estate Fund Trustee Acquires Shares as Part of Compensation Plan

Trustee I. Bobby Majumder acquired shares of Bluerock Total Income Plus Real Estate Fund as part of the trustee compensation plan.

Summary

• On March 31, 2024, I. Bobby Majumder, a trustee of Bluerock Total Income (plus) Real Estate Fund, acquired 173.49 shares of Class I beneficial interest.
• The shares were acquired at a price of $28.82 per share.
• This transaction was part of the trustee's compensation plan, where each independent trustee receives $5,000 of Class I Shares per quarter, totaling $20,000 annually.
• Following the transaction, Majumder directly owns 2,290.136 shares of Class I beneficial interest.

Sentiment

Score: 7

Explanation: The document reflects a routine transaction related to trustee compensation, indicating a stable and well-structured governance process. The sentiment is neutral to slightly positive as it shows alignment of interests between the trustee and shareholders.

Positives

• The acquisition of shares by a trustee demonstrates alignment with the fund's performance.
• The compensation plan provides a consistent stream of equity to the trustee.

Future Outlook

NA

Industry Context

This filing is a routine disclosure related to insider transactions, specifically the acquisition of shares by a trustee as part of a pre-defined compensation plan. It's common for REITs and similar investment vehicles to compensate trustees with equity to align their interests with those of shareholders.

Comparison to Industry Standards

• Trustee compensation plans involving equity grants are common in the real estate fund industry.
• Many REITs and investment funds use similar structures to align the interests of their trustees and management with those of shareholders.
• Comparable companies such as Blackstone Real Estate Income Trust and Starwood Real Estate Income Trust also utilize equity-based compensation for their board members.

Related Party Transactions

• The acquisition of shares by the trustee is a related party transaction as it involves compensation for services rendered.

Stakeholder Impact

• The transaction has a minor positive impact on shareholders by aligning the trustee's interests with the fund's performance.
• The compensation plan provides a structured approach to rewarding the trustee for their services.

Key Dates

Keywords

Bluerock Total Income Plus Real Estate Fund, Trustee, Share Acquisition, Compensation Plan, TIPWX, Form 4, Beneficial Ownership