BluerockResidential Growth REIT Inc. kicked off a public offering of anundisclosed amount of its series D cumulative preferred stock.
Dividend yield and other terms will be negotiated between thecompany and the underwriters. The company expects to grant the underwriters a30-day overallotment option to acquire additional shares.
Net proceeds will be used to fund future multifamilyacquisitions and investments, and for other general corporate and working-capitalpurposes, including capital improvement at the company's existing properties.
Janney Montgomery Scott, D.A. Davidson & Co. andOppenheimer & Co. are the book-running managers; BB&T Capital Marketsis the co-lead manager; and Boenning & Scattergood, JMP Securities andWilliam Blair are the co-managers for the offering.