good everyone. morning you, and Chris Thank
Babb, year I on and highlight. XXXX to focus Jordan quarter, Chief Acquisition in some financial additional internalization executive the me noteworthy MacDonald, with outlook was Officer; Chris, members to several and operational, you we’ll strategic I’ll detail. Ruddy, Ryan with accomplishments Operating our our of provide will President Officer. the and Investment team, with that of with accomplishments a Chief Ryan ask capital addition our remarks transactional to number commentary. In and like Chief a our and my markets close key key Officer; significant Afterwards, Jim BRG’s from are evolution additional our and highlights I’d today
have the The management internalization, Internalizing terms a provide perceived we’re this to as number that to our first expect time out with and was milestone. benefits, forward shareholder at of October. opportunity completed completed base. management grow our we we to at of is of any of and to goal of stockholders growth eliminate of alignment our our a we and had which have end G&A we pleased our institutional in laid expand these And the complex transaction for reducing the continue to including an to our go potential us IPO,
in portfolio The growth. our enhancements second is ongoing highlight
estate $XXX approximately markets acquisitions This relationships, XX million deployed we development we highly units. comprising included in growth and able book equity and with X,XXX over and were units, XXXX, economy well-located, million be During for opportunistic investments mezzanine equity and properties our investment $XXX X prospects for acquisitions over in strategy. in real transactions. amenitized of preferred to source-attractive of X,XXX and million And our knowledge – in expertise $XXX properties comprising high-quality, in
preferred as good investments. and we operating assets a Our activity limit which deals value where mezzanine development as and high-quality this is with strategy, but exposure, compelling year returns our well to out through Bluerock’s is can risk opportunities seek representation of our selective earn investment creation
at portfolio the value into that time to further that capital profile. as completed our well discipline generating we During recycle in to sell $XXX the and XX% between million the both IRRs our ability enhance year, approximately XX%. and demonstrates assets as appropriate dispositions, This to and growth create
implementing management million grow through sheet efficient balance flexibility cash bank which our more portfolio us of our to credit, line to with enhancement an a abilities. provides increased and is $XXX highlight third with Our
capital. our us continued opportunistic cost-effective offers also preferred our use We of offering, Series B to access X% which
back the earnings anticipate capability Furthermore, of that our of the restabilization full through In into the fact current our quarter and into versus the quarter. results This operational performance quarter as of were as operational continue accelerate expertise available we year we our us the in to we investors recently our in implement purchased invest investment the we first assets. see that will reflect late performance, starting it also positions well that half in of fourth cash should our but XXXX XXXX, quarter. our go terms the means
turning our continuing the results growth. to achieve quarter front. fourth on meaningful were revenue Now to We
for revenue to was investment in fourth impacted asset million and quarter activity our rate second the the which to our since Net $XX.X will largely growth by line QX $XX.X produce year increase the the our XX% loss prior share is was net full significant year sales result a share top million, quarter, XXXX. run expect those Our loss a the the in $X.XX quarter of the for in stockholders was as I compared prior that revenue should XXXX. from as quarter note our of per of of of common attributable quarter. per reinvestment a for starting quarter first proceeds $X.XX
was from in basis, $X.XX, per-share funds at to stockholders $X.XX our operations came AFFO million per $X.X year to quarter, share. guidance On $X.X prior common adjusted the AFFO a which exceeded or our in to $X.XX the compared of quarter. For million attributable
recent in by impacted with is market on you changing two Worth. sales was and was increase pool This Fort the quarter quarter. is same-store our asset in the mix Ryan going challenges the to year Moving basis on which also detail $XX.X quarter. and at a by assets Same-store year Property in Frisco due points asset for property operations. additional down provide versus the the to to million NOI XX NOI prior that. prior grew XX.X% in from to $XX.X million quarter,
grow. to continues base asset Our
which and over a Our up billion, quarter-to-quarter growth is $X.X on on assets XX% year-over-year a XX% basis. are
X,XXX investment properties front, three our in for with in units XXX on the million $X for BRG Shifting provide over acquisition properties five approximately during units the buying ownership $XX quarter, in $XX equity development an interest we during totaling to in equity. over for four Again, the will we mezzanine And closed consolidated Ryan million On the investments you. assets million capital minority front, and finally, additional approximately detail on fourth loan totaling BRG quarter by out markets. operating investment.
part because strategy to because is lockout. our $XX.X capital, minimizing the at while access offer into During to completed it a our of million Series cost-effective convertible This price two-year the an preferred X% stock of us is quarter, growth continues potential important fourth future after it totaling shares. common sales B time at preferred dilution we a accretive same offering
without us equity current enables it markets prices. access dilution to at So the
B Series and of be momentum. off the are to will the Our follow-on offering at primary kicking time raise first end takes our of which XXXX in quarter December, because expired we lower the offering build
will a the to next We state of expect the reaccelerate that range rate million quarter the level quarterly in back quarters. couple to over $XX $XX million steady a run
on management to meeting, closed of of October On annual external previously XX, team align to the function our of with the our our internalization on our further the stockholders was internalization. following the covered of performed management stockholders. approval we interest Moving those December, manager expect dividend at of the by equity. dividend we XX.X% approved policy to at In a which consideration rate in the adjusted with an share, annual paid be be to common basis board in XXXX. a set the an stock rate $X.XX run
to and I’m in of On our plan the NAV outlook, significant of personal announce and Finally, other and program our recently of that consideration both investment alternatives. level, it prudently value intend point including belief our our my number creating a equity the leverage, stock of purchased share in capital a given managing price the company’s ownership allocation see and and We this amount an shares pleased our of week, shareholders. the With value its This our as Form to an program is underscores share value a additional to utilize million. Ryan. call to increasing accretive, component view you Ryan? unwavering for the conviction BRG. opportunistically board personal of the has repurchase can factors, to up with of authorized units, our occurred X $XX of equity is I and AFFO last again from that my the filing details and important that, turn as commitment I’d and of authorization repurchase like to a
