Bluerock Residential Growth REIT, Inc. (BRG)

[SPORTSPROPHET]

BRG Sells Class A Orlando Apartments for $52M; Achieves 1.8x Return on Equity

NEW YORK, Dec. 20, 2016 /PRNewswire/ -- Bluerock Residential Growth REIT, Inc. (NYSE MKT: BRG) ("BRG" or the "Company") announced today that it has closed on the sale of its EOS Orlando Apartments property ("EOS"), located in Orlando, Florida. The property, which consists of 296 units, sold for $52 million, generating an internal rate of return of approximately 31% on BRG's equity investment in the project, for a return on equity of 1.8x.

"BRG continues to fulfill our commitment to strategic recycling of capital. We plan to redeploy capital from the EOS transaction into higher-growth assets located within our current target markets," said Ramin Kamfar, Chairman and CEO of BRG.