NEW YORK--(BUSINESS WIRE)--Broadstone Real Estate Access Fund (“BDREX”), a continuously offered, closed-end interval fund, registered under the Investment Company Act of 1940, announced today it added two institutional core real estate funds sponsored by Goldman Sachs and New York Life to its portfolio. This expands BDREX’s private fund holdings to a total of 10 which also include funds sponsored by USAA, CBRE and Clarion. BDREX is managed by Benefit Street Partners, L.L.C. (“BSP”).
“We are extremely excited to add these two, high-quality, core real estate funds to the BDREX portfolio,” stated Brian Buffone, Benefit Street Partners Managing Director and BDREX Portfolio Manager. “We will continue to strive to give our investors access to large, private institutional funds that have historically been limited to pension funds, endowments and sovereign wealth groups, and we hope to make additional investments like this in the near future.”
For the most recent holdings information, please visit the Fund’s Holding’s Page.
TOP 10 HOLDINGS AS OF 7/31/20 |
TYPE |
WEIGHT |
iShares U.S. Real Estate ETF |
Public REIT ETF |
33.2% |
Trawler Capital Management CRE Credit Fund |
Private Real Estate Fund |
18.5% |
USAA Government Building Fund |
Private Real Estate Fund |
7.8% |
CBRE US Core Partners |
Private Real Estate Fund |
6.9% |
Clarion Lion Properties Fund |
Private Real Estate Fund |
5.2% |
Sentinel Real Estate Fund |
Private Real Estate Fund |
5.1% |
Voya Commercial Mortgage Lending Fund |
Private Real Estate Fund |
4.7% |
Clarion Lion Industrial Trust |
Private Real Estate Fund |
3.6% |
ENT Noblesville |
Direct Real Estate |
3.6% |
Portfolio Advisors - RAM |
Private Real Estate Fund |
2.0% |
Weight represents the position’s percentage of gross assets. Holdings are subject to change. |
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BDREX is available in two share classes: Class W (BDRWX) and Class I (BDREX). The minimum initial investment is $2,500 for Class W shares and $1 million for Class I shares. Class I was created to serve the clients of Registered Investment Advisers (RIAs) and Wealth Managers and provide a reduced-fee share class to individual investors seeking to invest more than $1 million. RIAs and Wealth Managers investing in Class I must achieve an aggregate of $1 million in BDREX investment across their client base.
ALPS Fund Services, Inc. and ALPS Distributors, Inc. serve as the Fund’s Administrator and Distributor, respectively. DST Systems, Inc. the parent company of the Distributor, serves as the Transfer Agent to the Fund. UMB Bank, N.A. serves as the Fund’s Custodian.
About Broadstone Real Estate Access Fund
BDREX is a continuously offered, closed-end interval fund, registered under the Investment Company Act of 1940, that deploys investor capital into a diversified pool of actively managed real estate holdings, blending investment in direct, individual real estate transactions; private real estate funds; and public real estate securities. Investors may benefit from the access and diversification afforded by the Fund, along with its periodic liquidity and daily pricing features. BDREX is open for investment to individual and institutional investors with a minimum initial investment of $2,500 for Class W shares and $1 million for Class I shares. All prospective investors are invited to download an investor kit: https://bdrex.com/lp/bdrex/
Important Disclosures:
AN INVESTOR SHOULD CONSIDER THE INVESTMENT OBJECTIVES, RISKS, CHARGES AND EXPENSES OF THE FUND CAREFULLY BEFORE INVESTING. TO OBTAIN A PROSPECTUS CONTAINING THIS AND OTHER INFORMATION, PLEASE CONTACT YOUR FINANCIAL ADVISOR OR VISIT WWW.BDREX.COM. THE PROSPECTUS SHOULD BE READ CAREFULLY BEFORE INVESTING.
An interval fund, such as BDREX, is a continuously offered, closed-end investment company that periodically offers to repurchase its shares from shareholders. The number of shares that BDREX will offer to repurchase will be determined by its Board of Trustees on a quarterly basis. Redemptions within 90 days of purchase may be subject to a fee. There is no guarantee that an investor will be able to sell all the shares that the investor desires to sell in any repurchase offer.
The Fund’s shares will not be listed on an exchange and it is not anticipated that a secondary market will develop. An investment is not suitable for investors that require liquidity. Investing in BDREX involves risks, including loss of principal and the other risks set forth in the “Risk Factors” section of the prospectus.
Because BDREX’s direct real estate investments will be relatively illiquid, the Fund may not be able to vary its portfolio in response to changes in economic and other conditions, which may result in losses to the Fund. The bankruptcy, insolvency or financial deterioration of any of the tenants of the Fund’s direct real estate investments could significantly delay the ability to collect unpaid rents or require the Fund to find new tenants. With respect to BDREX’s investments in private real estate investment funds, the Fund may not have the sole decision-making authority over such funds and may be unable to take actions to protect its interests in these investments. The Fund may be subject to additional risks if it fails to meet a capital call from a private real estate investment fund and the underlying fund may pursue investment strategies that compete with each other or do not align with those of the Fund. BDREX’s investments in the securities of publicly traded REITs will be subject to the risks affecting these REITs directly.
BDREX is distributed by ALPS Distributors, Inc. (ALPS). ALPS is not affiliated with BDREX, Benefit Street Partners L.L.C., or UMB Bank, NA.
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