Bluerock Private Real Estate Fund filed a Post-Effective Amendment No. 1 to its Form N-2 under Rule 462(d), submitted to add exhibits to the Registrant's registration statement and which became effective upon filing. The amendment incorporates the existing registration statement by reference and attaches supplements for the Fund's 7.00% Series A and 7.00% Series B Convertible and Perpetual Preferred Shares.
Bluerock Private Real Estate Fund is offering up to 25,000,000 preferred shares across multiple series with an aggregate liquidation preference of $250,000,000. The Offered Preferred Shares pay a 7.00% annual dividend ($0.70 per share) and carry a $10.00 liquidation preference. Conversions are permitted as Holder Optional Conversions (semi-monthly) and as Issuer Optional Conversions (beginning two years after issuance) with cash and/or common-share settlement formulas tied to VWAP or NAV. NAV per common share was $23.52 as of May 1, 2026 and the last reported NYSE close was $16.68, a 29.09% discount to NAV. Estimated proceeds before expenses are $227,500,000 and estimated offering expenses are approximately $25.625M.