Listed bookrunners of the IPO are Morgan Stanley, J.P. Morgan, Citigroup and other investment banks. With a focus on investing in value-add multifamily housing properties in MSAs with strong macroeconomic prospects, Bridge Multifamily Fund Manager LLC (Bridge Multifamily) aims to add value by transforming unit interiors and common areas, increasing tenant satisfaction, and adding profound social and community program amenities, all to achieve strong occupancy and rent growth. 646-818-9050 There are other important, less easily defined requirements that also need to be met. dvelopper et amliorer nos produits et services. He is also on the board of Amkor Technology, Inc. We provide the highest level of value to our residents, from best in class amenities to a dedicated social programming center at each community. The underlying investments, in Government-guaranteed agency mortgage backed securities have never experienced a single dollar of defaults. Bridges specialized investment teams deploy capital into high-growth, resilient sectors of multifamily residential, prime suburban commercial office and seniors housing. Over the last 2 years, insiders at Bridge Investment have traded over $0 worth of Bridge Investment stock and bought 6,300 units worth $100,800 Our significant real estate investment experience and boots on the ground operating platforms allows Bridge to provide a fully-integrated investment and property management process to identify attractive opportunities and proactively manage the assets to optimization, concluded Morse. The firm also has an extensive CRE-backed fixed income investment strategy, and since 2019 has dramatically expanded its presence in the Opportunity Zone sector. Excluding effects of underwriter options and private placement shares or restricted stock, if any, the float to outstanding shares ratio will be approximately 17.09%. The event will also be available live via webcast which can be accessed here or from our Investor Relations website https://ir.bridgeig.com. For investors with an interest in exposure to a range of real estate assets in the U.S., who are bullish on the exit from the pandemic and who are seeking a dividend-oriented stock, the IPO is worth a close look. We believe that the vertical will continue to outperform as e-commerce and supply chain growth fuel tailwinds, intensifying the need for high quality and well-located mission critical facilities in logistically connected corridors.. QuoteMedia. Steady job growth, lack of new supply and aging existing inventory have created opportunities to acquire quality office assets at significant discounts to replacement costs. The firm seeks to directly operate the properties it owns, which now span 40 U.S. states in both primary and secondary markets. Additionally, Mr. Morse was a co-founder of SSB Capital Partners, a $400 million private equity fund formed in 2000. Tenant demands require asset owners to be engaged and responsive, and prioritize the prime suburban locations that have always been the Bridge focus.. Charlotte.Morse@bridgeig.com, Internet Explorer presents a security risk. RT=Real-Time, EOD=End of Day, I wrote this article myself, and it expresses my own opinions. On average, Bridge Investment executives and independent directors trade stock every 0 days with the average trade being worth of $43,659. Market Data copyright 2023 QuoteMedia. From 1999 to 2004, Mr. Morse served as the Co-Head and then Head of Global Investment Banking for Citigroup. Joele Frank, Wilkinson Brimmer Katcher Lorsque vous utilisez nos sites et applications, nous utilisons des, authentifier les utilisateurs, appliquer des mesures de scurit, empcher les spams et les abus; et. Acquisition of Newbury Partners View press release View presentation, In 2020, Bridge raised over $2 billion in capital and deployed nearly $3 billion in new assets across investment verticals. 646-844-0901 We observe both the letter and spirit of the Opportunity Zone legislation and are proud to be able to include an affordable housing component to our developments whenever possible, and to develop with the highest environmental standards possible. There are no older and 5 younger executives at Bridge Investment. It currently has one President. Prior to his current position, Mr. Tucker served as Executive Vice President and Head of the Northeast and Midwest Regions of Gladstone, where he was involved in the assembly and management of an approximately 8 million square foot portfolio of industrial and office assets, and lead the acquisitions and asset management teams for that portfolio. Interested parties may access the conference call live over the phone by dialing 1-877-405-1210 (domestic) or 1-201-689-8721 (international) and requesting Bridge Investment Group Holdings Inc.s Fourth Quarter 2022 Earnings Conference Call. Our Professionals LEAD OUR SPECIALIZED VERTICALS WITH FULLY INTEGRATED TEAMS Robert Morse Executive Chairman Jonathan Slager Chief Executive Officer & Co-Chief Investment Officer, Bridge Multifamily Dean Allara Vice Chairman & Head of Client Solutions Group Adam O'Farrell Chief Operating Officer Katie Elsnab Chief Financial Officer Brad Andrus Now another company with a significant presence in residential is moving into logistics: Bridge Investment Group LLC, which has announced the launch of Bridge Logistics Properties. In 2020, Bridge sponsored the first iteration of our Bridge CARES: COVID-19 Relief Fund, provided college scholarships to 12 Bridge Scholars as part of the Bridge to Education program, bolstered the spirit of the Opportunity Zone legislation by sponsoring 38 foster youth at our Archer Avenue project in Queens, distributed 1,500 pairs of athletic shoes to disadvantaged elementary school students as part of the Bridge Boots on the Ground program and supported 7,200 homeless youth with essential supplies via our We Got Your Back initiative. New supply of Class B multifamily is severely constrained, and occupancy is projected to remain high with steady rental rate increases. . Get them exclusively at IPO Edge. Over the last 2 years, insiders at Bridge Investment have traded over $0 worth of Bridge Investment stock and bought 6,300 units worth $100,800 This Florida Limited Liability company is located at 2049 SW 118TH AVE, MIRAMAR, FL, 33025 and has been running for three years. Chairman at Bridge Investment. Net Income was $18.2 million and $272.4 million for the quarter and year ended December 31, 2022, respectively. Bridge owns or manages over 42,000 units today and plans to deploy over $2.0 billion of equity to acquire or develop assets in the multifamily space over the next two years. Distributable Earnings of Bridge Investment Group Holdings LLC . On occasion, TIGER 21 also reports on findings from Member surveys on various investment topics and macro trends. Chairman of Bridge Investment since . Major competitive or other industry participants include: Bridges recent financial results can be summarized as follows: Below are relevant financial results derived from the firms registration statement: As of March 31, 2021, Bridge had $134 million in cash and $223 million in total liabilities. delay times for all exchanges). Please. Matt Tucker, Co-CIO of the Fund Manager is a co-founder of the vertical and member of the Investment Committee of the General Partner, with over 20 years of experience in the commercial real estate and corporate finance industries. 2023 Bridge Investment Group Holdings LLC. View source version on businesswire.com: https://www.businesswire.com/news/home/20210119005691/en/, Media: Bridge has targeted development and re-development projects to invest in energetic, in the path of progress Opportunity Zones throughout the country, said David Coelho, Chief Investment Officer for the Bridge Opportunity Zone Strategy. Our employees drive our success with the shared focus to build a better future for our investors, tenants, residents, and communities. As Co-CIO, Mr. Flickinger oversees the sourcing, negotiating and structuring of investments throughout the U.S. We have drawn from our teams deep expertise in the selection of attractively valued mortgage-backed securities and interest rate-risk hedging to deliver strong risk-adjusted returns for investors in the current low yield environment.. On a basic and diluted basis, net (loss) income attributable to Bridge per share of Class A common stock was $(0.04) and $0.92, respectively. The company . Free cash flow during the twelve months ended March 31, 2021, was $129 million. You can see the complete history of Mr Morse stock trades at the bottom of the page. *Total 4,200 employees include employees of professional employer organizations at sites managed by Bridge Senior Living LLC. Chief Financial Officer. Robert Morse, Executive Chairman at Bridge said, Both market conditions and operating challenges were unprecedented in the face of the COVID pandemic, and Bridge navigated through difficult conditions well. Bridge Office Fund Manager LLC (Bridge Office) targets value-add commercial office assets in US prime suburban submarkets. Executive Chairman. TIGER 21 produces a quarterly Asset Allocation Report that measures the aggregate asset allocation exposures of its Members based upon their Portfolio Defense presentations. Bridge Investment Group Holdings Inc. issued a full detailed presentation of its fourth quarter and full year 2022 results, which can be viewed on the Investors section of our website at www.bridgeig.com. 35 years experience in real estate, finance and software companies. PRINCE INVESTMENT GROUP LLC is an Inactive company incorporated on July 17, 2020 with the registered number L20000208076. The funds used to redeem some of the Class A Units held directly or indirectly by certain of the Original Equity Owners will not be available to us for use in connection with our future growth initiatives. Renewals and new leases in the fourth quarter surpassing that of the fourth quarter of 2019, and the number of leases signed in 2020 exceeded 2019. PD=Previous Day. Katie Elsnab. Bridge ended 2020 with over $25 billion of AUM. General & Administrative expenses as a percentage of total revenue have been stable as revenues have increased, as the figures below indicate: The General & Administrative efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of General & Administrative spend, increased to 0.9x in the most recent reporting period, as shown in the table below: Management forecasts a strong need for affordable housing via an informed, socially responsible approach. Robert Morse brings over 35 years of experience in real estate investment management, commercial and investment banking and private equity fund management as Executive Chairman of Bridge Investment Group ("Bridge" or the "Firm"). . We anticipate continuing our Opportunity Zone investment activity into 2021 and remain very excited about this programs impact on these underserved communities.. To ensure the most secure and best overall experience on our website we recommend the latest versions of, Internet Explorer is no longer supported. Prior to his current position, Mr. Sodo was most recently the CFO of Gladstone Commercial Corporation (NASDAQ: GOOD) (Gladstone), a publicly traded REIT with approximately $1.1 billion of assets under management as of December 31, 2020, and previously served as Executive Vice President, CFO and Treasurer of VEREIT (NYSE: VER). These are qualitative in nature and are at the discretion of TIGER 21 and the Chair of the Group. Mr has made over 2 trades of the Bridge Investment stock since 2015, according to the Form 4 filled with the SEC. Class A common stockholders will be entitled to receive one vote per share and Class B shareholders will receive ten votes per share. The estimated Net Worth of Robert Randolph Morse is at least $2.27 Million dollars as of 24 May 2022. Looking forward, were excited about the compelling opportunities for our Renewable Energy and PropTech strategies, as ESG and technological solutions become more critical for the real estate industry., Jonathan Slager, Bridges Chief Executive Officer, added Bridges specialized investment approach, vertically integrated business model, and focus on value-add strategies continues to be a strength in a difficult market. Bridge Investment Group Chairman Robert Morse and the Willet's . As a fully integrated owner-operator of seniors housing communities, we have distinguished our platform. Mr. Morse served as Chief Executive Officer of Citigroups Asia Institutional Clients Group from April 2004 to October 2008, where he provided direct management oversight of Citigroups $5 billion of proprietary capital. This is a mid-tier performance for all major underwriters during the period. SALT LAKE CITY, (BUSINESS WIRE) -- Bridge Investment Group Holdings Inc. (NYSE: BRDG) ("Bridge") announced today their 2023 promotions to Senior Managing. The Firms vertically-integrated operating platform complements the lending platform by providing in-depth due diligence and the ability to own and manage assets if necessary.. The Operating Company intends to use the $274.3 million in net proceeds from the sale of Class A Units to Bridge Investment Group Holdings Inc. (or $316.2 million if the underwriters exercise their option to purchase additional shares of Class A common stock), after deducting estimated offering expenses [i] to pay $137.1 million (or approximately $171.0 million if the underwriters exercise in full their option to purchase additional shares of Class A common stock) in cash to redeem certain of the Class A Units held directly or indirectly by certain of the Original Equity Owners and [ii] for general corporate purposes to support the growth of our business. Terms of Use. An audio replay of the conference call will be available approximately three hours after the conference call until 11:59 p.m. SALT LAKE CITY, Utah--(BUSINESS WIRE)-- I am not receiving compensation for it (other than from Seeking Alpha). There are no executives at Bridge Investment getting paid more. In addition, he makes $1,305,863 as Exec. ET to discuss its fourth quarter and full year 2022 results. Last updated: 1 March 2023 at 11:00am EST. PD=Previous Day. I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. Biography of Robert Morse Founder of Primus Financial Holdings Ltd., Robert R. Morse currently is Executive Chairman of Bridge Investment Group Holdings, Inc. SALT LAKE CITY, August 08, 2022--Bridge Investment Group Holdings Inc. (NYSE: BRDG) ("Bridge" or the "Company") today reported its financial results for the second quarter ended June 30, 2022. Our Professionals LEAD OUR SPECIALIZED VERTICALS WITH FULLY INTEGRATED TEAMS, Chief Executive Officer & Co-Chief Investment Officer, Bridge Multifamily, Vice Chairman & Head of Client Solutions Group, Senior Managing Director & President, Bridge Debt Capital Markets, Senior Managing Director, Bridge Debt Capital Markets, Senior Managing Director & Co-Chief Investment Officer, Bridge Multifamily, Senior Managing Director & Chief Investment Officer, Bridge AMBS, Senior Managing Director & Chief Executive Officer, Co-Chief Investment Officer, Bridge Seniors Housing & Medical Properties, Senior Managing Director & Chief Investment Officer, Bridge Debt Strategies, Senior Managing Director & Chief Investment Officer, Bridge Development and Opportunity Zones, Senior Managing Director & Chief Executive Officer, Co-Chief Investment Officer, Bridge Logistics Properties, Senior Managing Director & President, Bridge Property Management, Co-Chief Investment Officer, Bridge Multifamily, Senior Managing Director, Acquisitions & Co-Chief Investment Officer, Bridge Workforce & Affordable Housing, Senior Managing Director, Client Solutions Group, Senior Managing Director & Co-Chief Investment Officer, Bridge Net Lease, Senior Managing Director & Co-Chief Investment Officer, Bridge Logistics Properties, Senior Managing Director & Co-Chief Executive Officer, Bridge Single-Family Rental, Senior Managing Director, General Counsel, Senior Managing Director & Chief Investment Officer, Bridge Renewable Energy, Senior Managing Director & Chief Asset Officer, Bridge Debt Strategies, Senior Managing Director & Deputy Chief Investment Officer, Bridge Debt Strategies, Senior Managing Director & Head of Asia, Client Solutions Group. Founder of Primus Financial Holdings Ltd., Robert R. Morse currently is Executive Chairman of Bridge Investment Group Holdings, Inc. Start with a 14-day Free Trial. Management says it will use the net proceeds from the IPO as follows: We intend to use the net proceeds from this offering (including any net proceeds from any exercise of the underwriters option to purchase additional shares of Class A common stock) to purchase 18,750,000 Class A Units (or 21,562,500 Class A Units if the underwriters exercise in full their option to purchase additional shares of Class A common stock) directly from the Operating Company at a price per unit equal to the initial public offering price per share of Class A common stock in this offering less the underwriting discounts and commissions and estimated offering expenses payable by us. Senior Managing Director & Co-Chief Investment Officer, Bridge Net Lease. Bridge Investment Group picked up a Deerfield Beach warehouse for $15.2 million. https://www.businesswire.com/news/home/20210119005691/en/. Brian . In 2020, Bridge raised $2.3 billion of new equity capital and deployed nearly $3 billion into new assets across its six specialized investment verticals, with further plans to deploy approximately $11 billion over the next three years. Building on Bridges deep industry expertise and multi-cycle track record as a seasoned owner/operator, Bridge Office offers specialized opportunities in acquiring well-located, high-quality office assets with outstanding risk/reward metrics. Please complete this form to receive a copy of the TIGER 21 quarterly Asset Allocation report. 5.0 . In a macro environment in which yield is very hard to come by, the Bridge Debt Strategies investment thesis has delivered 9-11% net to the investor returns in three prior vehicles and has maintained that target in its current vehicle. This press release contains forward-looking statements about our beliefs and expectations related to the market and our industrial strategy, which are subject to various risks and may change. Bridge Debt Strategies Fund Manager LLC (Bridge Debt Strategies) employs an all-weather, income-focused strategy to create a diversified portfolio, focusing on a mix of first mortgage floating-rate loans, and Freddie Mac K-Series subordinated tranches. Bridge Multifamily is a fully-integrated manager with over 900 professionals focused on multifamily property management. Senior Managing Director & President, Bridge Debt Capital Markets . Distributable Earnings of Bridge Investment Group Holdings LLC (the Operating Company) was $35.6 million, or $0.21 per share after-tax, for the quarter ended December 31, 2022 and $187.9 million, or $1.10 per share after-tax, for the year ended December 31, 2022. Salt Lake City, Utah-based Bridge was founded to develop a nationwide platform to provide institutional and individual investors with exposure to a variety of asset classes within the real estate sector in the United States. As a fully vertically-integrated real estate investment manager, Bridge operates almost every asset it acquires or develops. Among the many highlights, Bridge became a UN PRI Signatory, established designated ESG Steering and Diversity, Equity and Inclusion (DE&I) Committees, and received shortlist award recognition from UN PRI and the ESG Investing Awards for its impactful work in the preservation and rehabilitation of affordable housing across the U.S. Net Income was $124.4 million for the quarter ended June 30, 2022, compared to $83.2 million for the quarter ended June 30, 2021, representing a 50% increase year-over-year. knewingham@prosek.com As CEO, Mr. Sodo oversees the business activities of the vertical, including real estate investment decisions, banking relationships, capital origination, investor relations, and executive oversight of the vertical. Pour en savoir plus sur la faon dont nous utilisons vos donnes personnelles, veuillez consulter notre politique relative la vie prive et notre politique en matire de cookies. Bridge Seniors Housing Fund Manager LLC (Bridge Seniors) believes that seniors housing is one of the most attractive segments in the US real estate market, offering significant consolidation opportunities and durable industry fundamentals. Data delayed Most recently, Bridge launched its Logistics Net Lease and Logistics Properties platforms focusing on the acquisition of Class A and B industrial properties in the top 75 MSAs in the U.S. as well as potential development of new properties in infill, last-mile driven markets. ET on February 28, 2023 and can be accessed by dialing 1-877-660-6853 (domestic) or 1-201-612-7415 (international), and providing the passcode 13736320.