Bluerock Residential Growth REIT (BRG) Announces New $150 Million Secured Credit Facility

New York, NY (October 11, 2017) – Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) (the “Company”) today announced that it has closed on a $150 million senior secured credit facility (the “Facility”). The Facility provides an accordion feature that allows for increased borrowing capacity of up to $250 million.

“We are pleased to implement our first credit facility, which along with our proposed internalization, is a major step forward as we enter into our next phase of growth,” said Ramin Kamfar, the Company’s Chairman and CEO. “The Facility will provide us with added financial flexibility and more efficient cash management, which we expect will have a positive impact on our recurring AFFO. The Facility also strengthens our existing relationship with KeyBank, and establishes new important banking partnerships with Bank of America Merrill Lynch and JPMorgan.”

The Facility expires in October 2020 and has one 12-month extension option. Amounts drawn under the Facility will bear interest at a variable rate initially equal to (i) LIBOR plus a margin ranging from 1.80% to 2.45% per annum or (ii) a base rate plus a margin ranging from 0.80% to 1.45% per annum.

The Company plans to utilize the Facility to fund future acquisitions, including two properties which are currently under agreement and are expected to close in the fourth quarter of 2017.

KeyBanc Capital Markets, Merrill Lynch, Pierce, Fenner & Smith Incorporated, and JPMorgan Chase Bank, N.A. acted as co-lead arrangers and book managers, with KeyBank National Association as administrative agent. Merrill Lynch, Pierce, Fenner & Smith Incorporated and JPMorgan Chase Bank, N.A. acted as co-syndication agents.

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. The Company 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 on the Russell 2000 and Russell 3000 Indexes. The Company 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:

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 February 22, 2017, 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.

Josh Hoffman
(208) 475.2380