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Bluerock Residential halts 2 at-the-market preferred share offering agreements

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Bluerock Residential halts 2 at-the-market preferred share offering agreements

Bluerock Residential Growth REIT Inc. ended its agreement with FBR Capital Markets & Co. and MLV & Co. LLC to sell up to $100.0 million of its 8.250% series A cumulative redeemable preferred shares in at-the-market offerings from time to time.

The company also terminated its at-the-market agreement with FBR to sell up to $36.0 million of its 7.625% series C cumulative redeemable preferred shares from time to time.

As of Sept. 30, Bluerock had sold 146,460 series A preferred shares, for net proceeds of about $3.6 million, and 23,750 series C preferred shares, for net proceeds of roughly $600,000.