Bluerock Residential Growth REIT Acquires Two Class-A Multifamily Properties in Dallas-Fort Worth, Texas, Adding 674 Units to its Portfolio

New York, NY (November 3, 2015) – Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) (“BRG” “The REIT” or the “Company”) announced today that it has acquired two newly-developed Class A, institutional-quality apartment communities in the strong and growing Dallas-Fort Worth, Texas market: the 352-unit Sorrel Phillips Creek Ranch Apartments (“Sorrel”) in Frisco, and 322-unit The Sovereign Apartments in Fort Worth (“Sovereign”). BRG acquired the properties through a joint venture for a total purchase price of $99.7 million, or approximately $147,900 per unit.

The acquisitions are projected to yield a pro forma year one stabilized cap rate of approximately 5.7%. This compares favorably to cap rates of 5.0% to 5.3% for assets of similar quality in the market. The Company sourced the transaction off-market at favorable pricing from a single seller through its operating partner, Carroll Organization (“Carroll”).

BRG invested 95% of the venture’s equity requirement, or approximately $32.9 million, with an affiliate of Carroll, funding the balance for a 5% stake in the venture. The joint venture further capitalized the investment with acquisition loans of approximately $67.6 million in total.

The Dallas-Fort Worth submarket is among the fastest growing in the US. Frisco, listed among Money Magazine’s Top 100 Places to Live in the US, is expanding rapidly with the relocation of 10 Fortune 500 corporate headquarters and more than 150 regional headquarters into the immediate area. The population in Frisco has surged 307% in slightly under15 years. Fort Worth, ranked #2 on Forbes’ 2015 list of Best Cities for Job Seekers, is home to 18 Fortune 500 companies and is a hub for companies looking to relocate. Residential occupancy rates in both property submarkets exceed 95%.

The Sorrel and Sovereign properties each offer amply-sized one-, two- and three-bedroom layouts averaging 1,034 square feet and 1,071 square feet, respectively. Both properties feature high-end in-unit finishes and upscale shared amenities including resort-style pools, dog parks, 24-hour fitness centers, cyber cafés, and outdoor kitchens/barbeque spaces.

“The Sorrel and Sovereign acquisitions place BRG squarely in the path of the area’s robust growth and fit neatly within an investment thesis that continues to deliver solid returns to the REIT,” said Ramin Kamfar, Chairman and CEO of BRG.

About Bluerock Residential Growth REIT, Inc.

Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) is a real estate investment trust that focuses on acquiring a diversified portfolio of Class A institutional-quality apartment properties in demographically attractive growth markets to appeal to the renter by choice. The Company’s objective is to generate value through off-market/relationship-based transactions and, at the asset level, through improvements to operations and properties. BRG generally invests with strategic regional partners, including some of the best-regarded, private owner-operators in the United States, making it possible to operate as a local sharpshooter in each of its markets while enhancing off-market sourcing capabilities. The Company is included in the Russell 2000 and Russell 3000 Indexes. BRG has elected to be taxed as a real estate investment trust (REIT) for U.S. federal income tax purposes. For more information, please visit our website at: www.bluerockresidential.com.

Forward Looking Statements

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995 and other federal securities laws. These forward-looking statements are based upon the Company’s present expectations, but these statements are not guaranteed to occur. Furthermore, the Company disclaims any obligation to publicly update or revise any forward-looking statement to reflect changes in underlying assumptions or factors, of new information, data or methods, future events or other changes. Investors should not place undue reliance upon forward-looking statements. For further discussion of the factors that could affect outcomes, please refer to the risk factors set forth in Item 1A of the Company’s Annual Report on Form 10-K filed by the Company with the U.S. Securities and Exchange Commission (“SEC”) on March 4, 2015, and subsequent filings by the Company with the SEC. We claim the safe harbor protection for forward looking statements contained in the Private Securities Litigation Reform Act of 1995.