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Bridge Investment Group Closes Gorelick Brothers Capital Transaction – Finance Monthly

SALT LAKE CITY–(BUSINESS WIRE)–Bridge Investment Group Holdings Inc. (“Bridge”) (NYSE:BRDG) announced today that the previously disclosed transaction to acquire certain assets of Gorelick Brothers Capital, LLC (“GBC” ), including a portfolio of single-family rental homes (“SFRs”) owned by GBC-managed vehicles and a majority of GBC’s asset and property management business, closed.

As part of the transactions, Bridge acquired 60% of GBC’s business, valued at $50 million. Bridge financed the acquisition with approximately 50% cash and 50% units of Bridge Investment Group Holdings LLC. The GBC team joined Bridge to launch an SFR strategy on the Bridge platform, under the leadership of a newly formed SFR investment manager who is managed by Bridge and key GBC executives. Additionally, Bridge and GBC executives completed a $660 million recapitalization through Bridge-sponsored investment fund vehicles of the SFR portfolio comprising more than 2,700 homes in 14 markets, concentrated in the Sunbelt and some markets in the Midwest of the United States.

“We are delighted to have completed this transaction with the team at Gorelick Brothers Capital and look forward to what we can accomplish as a combined team in the single family rental market,” said Robert Morse, Executive Chairman. of Bridge. “The single family rental industry will continue to be a rapid growth factor in the overall residential rental market, and we expect the addition of the former GBC team will make Bridge a formidable player.”

“Bridge’s convenient and vertically integrated investment and operating model is a perfect fit for our business and has already enabled us to gain strength with our SFR strategy. We look forward to building a great company together,” explained Todd Gorelick, co-CEO of new investment manager SFR, and Christopher Skardon, co-CEO and chief investment officer of new investment manager SFR.

RBC Capital Markets LLC acted as financial advisor to Bridge and Latham & Watkins LLP acted as legal advisor to Bridge. Goldman Sachs & Co. LLC acted as financial advisor to GBC and Kirkland & Ellis LLP acted as legal advisor to GBC.

ABOUT BRIDGE INVESTMENT GROUP

Bridge is a leading vertically integrated real estate investment manager, diversified across specialty asset classes, with approximately $31.8 billion in assets under management as of September 30, 2021. Bridge combines its national operating platform with dedicated teams of investment professionals focused on select US real estate. real estate verticals: residential leasing, offices, development, logistics net lease, logistics real estate and mortgage backed by real estate.

FORWARD-LOOKING STATEMENTS

This press release contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995, which relate to future events or our future performance or financial condition. All statements other than statements of historical fact may be forward-looking statements. In some cases, you can identify forward-looking statements by words such as “outlook”, “could”, “believe”, “expect”, “potential”, “opportunity”, “continue”, “may”, ‘will’, ‘should’, ‘over time’, ‘seek’, ‘predict’, ‘intend’, ‘plan’, ‘estimate’, ‘anticipate’, ‘expect’ or negative versions of these words, other comparable words or other statements that do not relate to historical or factual matters. These forward-looking statements include, but are not limited to, statements about the benefits of the acquisition and recapitalization of GBC, including anticipated transactions, financial condition, liquidity, performance, prospects or opportunities for growth and scale of Bridge, GBC or the combined company. , Bridge’s or GBC’s management’s strategies, outlook, plans, expectations or objectives for the future operations of the combined company, and statements of belief and any statements of assumptions underlying any precedes. Accordingly, we caution you that these forward-looking statements are based on our beliefs, assumptions and expectations as of the date they are made, taking into account all information available to us at that time. These statements are not guarantees of future performance, conditions or results and involve a number of risks and uncertainties that are difficult to predict and beyond our control. Actual results may differ materially from those expressed or implied by forward-looking statements due to a number of factors, including, but not limited to, risks and uncertainties relating to the ability to realize the anticipated benefits. transactions; the ability to drive the continued performance and market growth of GBC’s business; changes in the business environment and economic conditions in the United States; the availability and cost of credit; changes in relationships with major customers, suppliers, investors and others as a result of transactions; inability to retain key personnel; the impact of the COVID-19 pandemic on Bridge’s and GBC’s businesses, customers, suppliers, investors and employees or the economy generally; and other factors affecting the SFR industry in general. In addition, please refer to the risks described from time to time in our filings with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. Bridge undertakes no obligation to publicly update any forward-looking statements made herein, whether as a result of new information, future developments or otherwise, except as required by law.

contacts

Investor Relations:

[email protected]

Media:

charlotte morse

Bridge Investment Group Holdings Inc.

(877) 866-4540