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

Romano Tio, a trustee of Bluerock Total Income (plus) Real Estate Fund, acquired shares of beneficial interest, Class I, as part of the trustee compensation plan.

Summary

• On March 31, 2025, Romano Tio, a trustee of Bluerock Total Income (plus) Real Estate Fund, acquired 187.6368 shares of Beneficial Interest, Class I.
• The shares were acquired at a price of $26.61 per share.
• This transaction increased Tio's direct ownership to 3,163.43 shares.
• The acquisition was part of the trustee's compensation plan, where each independent trustee receives $5,000 of Class I Shares per quarter, or $20,000 annually.

Sentiment

Score: 7

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

Positives

• The trustee's acquisition of shares demonstrates alignment with the fund's performance.
• The compensation plan incentivizes trustees to act in the best interest of shareholders.

Future Outlook

The document does not contain specific forward-looking statements beyond the ongoing trustee compensation plan.

Industry Context

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

Comparison to Industry Standards

• Trustee compensation plans involving equity are common in the real estate fund industry.
• Comparable companies such as Blackstone Real Estate Income Trust and Starwood Real Estate Income Trust also utilize equity-based compensation for their board members.
• The specific amount of equity granted varies depending on the fund's size, performance, and governance structure.

Related Party Transactions

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

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 ensures that trustees are incentivized to act in the best interest of the fund and its investors.

Key Dates

Keywords

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