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

Trustee Kamal Jafarnia acquired 187.6368 shares of Bluerock Total Income Plus Real Estate Fund as part of the trustee compensation plan.

Summary

• On March 31, 2025, Kamal Jafarnia, a trustee of Bluerock Total Income (plus) Real Estate Fund, acquired 187.6368 shares of Class I Beneficial Interest at a price of $26.61 per share.
• This acquisition was part of the trustee's compensation plan, where each independent trustee receives $5,000 worth of Class I shares per quarter, totaling $20,000 annually.
• Following the transaction, Jafarnia directly owns 2,504.58 shares.

Sentiment

Score: 7

Explanation: The sentiment is neutral to positive. The trustee acquiring shares as part of a compensation plan is generally a good sign, indicating alignment of interests. There are no negative aspects mentioned in the filing.

Positives

• The acquisition reflects the trustee's alignment with the fund's performance, as compensation is tied to the fund's shares.

Industry Context

Trustee share acquisitions are common in the real estate fund industry as a way to align the interests of the trustees with those of the shareholders. This ensures that trustees are incentivized to make decisions that benefit the fund's overall performance.

Comparison to Industry Standards

• Many REITs and investment funds use equity-based compensation for their board members and trustees.
• The amount of equity granted ($20,000 annually) appears to be within the typical range for independent trustees of similar-sized funds.
• Companies like Blackstone and Brookfield Asset Management also utilize equity-based compensation for their executives and board members to align their interests with shareholders.

Related Party Transactions

• The acquisition of shares by the trustee as part of the compensation plan is a related party transaction.

Stakeholder Impact

• The acquisition of shares by the trustee could have a slightly positive impact on shareholders, as it aligns the trustee's interests with theirs.

Key Dates

Keywords

Bluerock Total Income Plus Real Estate Fund, Trustee, Share Acquisition, Compensation Plan, Class I Shares, TIPWX, Form 4