Bluerock Total Income+ Real Estate Fund Secures $750M Line of Credit
Bluerock Total Income+ Real Estate Fund (TI+) has secured a $750 million revolving line of credit from JPMorgan Chase Bank and RBC Capital Markets. JPMorgan is acting as the lead lender for the new credit facility.
TI+, the largest real estate interval fund globally, with approximately $4.6 billion in assets under management as reported by Bluerock, will primarily employ the line of credit to strengthen the fund’s balance sheet and facilitate treasury operations at a more advantageous lower cost of capital compared to its prior non-bank credit facility. The fund’s prior line of credit was retired as part of the transaction.
“The Fund’s $750 million credit facility with JPMorgan and RBC at a competitive interest rate will translate to lower operating costs, and in turn, stronger net performance for our shareholders,” said Ramin Kamfar, founder and CEO of Bluerock, the fund’s sponsor.
Bluerock oversees more than $18.7 billion in acquired and managed assets across real estate and credit products. The firm recently acquired a strategic stake in The Townsend Group.
