Bluerock Residential Growth REIT, Inc.

2022 Q2 Form 10-Q Financial Statement

#000141057822002130 Filed on August 08, 2022

View on sec.gov

Income Statement

Concept 2022 Q2 2021 Q4 2021 Q2

Balance Sheet

Concept 2022 Q2 2021 Q4 2021 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $244.9M $166.5M $136.8M
YoY Change 79.08% 98.52% -35.48%
Cash & Equivalents $244.9M $166.5M $136.8M
Short-Term Investments
Other Short-Term Assets
YoY Change
Inventory
Prepaid Expenses
Receivables $71.66M $216.6M $206.4M
Other Receivables $1.536M $711.0K $667.0K
Total Short-Term Assets $318.1M $383.8M $343.9M
YoY Change -7.49% 41.39% -16.28%
LONG-TERM ASSETS
Property, Plant & Equipment $2.128B $2.047B $1.989B
YoY Change 6.99% -2.38% 1.58%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $165.6M $135.7M $86.33M
YoY Change 91.78% 62.53% -19.78%
Other Assets $30.81M $30.02M $36.58M
YoY Change -15.78% -14.82% 23.03%
Total Long-Term Assets $2.324B $2.216B $2.113B
YoY Change 9.99% -0.13% 0.83%
TOTAL ASSETS
Total Short-Term Assets $318.1M $383.8M $343.9M
Total Long-Term Assets $2.324B $2.216B $2.113B
Total Assets $2.642B $2.599B $2.457B
YoY Change 7.54% 4.39% -1.97%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $3.184M $3.824M $1.972M
YoY Change 61.46% 190.36% 4.62%
Accrued Expenses $50.10M $52.95M $34.68M
YoY Change 44.46% 70.66% 16.88%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $69.46M $72.72M $51.16M
YoY Change 35.77% 56.78% 9.37%
LONG-TERM LIABILITIES
Long-Term Debt $1.393B $1.365B $1.343B
YoY Change 3.69% -8.45% -4.38%
Other Long-Term Liabilities $0.00 $1.135M
YoY Change -100.0%
Total Long-Term Liabilities $1.393B $1.365B $1.343B
YoY Change 3.69% -8.45% -4.38%
TOTAL LIABILITIES
Total Short-Term Liabilities $69.46M $72.72M $51.16M
Total Long-Term Liabilities $1.393B $1.365B $1.343B
Total Liabilities $1.512B $1.438B $1.489B
YoY Change 1.55% -10.67% -5.91%
SHAREHOLDERS EQUITY
Retained Earnings -$369.7M -$327.3M -$304.0M
YoY Change 21.63% 4.43% 15.81%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $50.62M $83.87M $125.7M
YoY Change
Total Liabilities & Shareholders Equity $2.642B $2.599B $2.457B
YoY Change 7.54% 4.39% -1.97%

Cashflow Statement

Concept 2022 Q2 2021 Q4 2021 Q2

Facts In Submission

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;">Note 1 – Organization and Nature of Business</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Bluerock Residential Growth REIT, Inc. (the “Company”) was incorporated as a Maryland corporation on July 25, 2008. The Company’s objective is to maximize long-term stockholder value by acquiring and developing well-located institutional-quality multifamily apartment communities and single-family residential homes in knowledge economy growth markets across the United States. The Company seeks to maximize returns through investments where it believes it can drive substantial growth in its core funds from operations and net asset value primarily through its Value-Add and Invest-to-Own investment strategies. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">As of June 30, 2022, the Company held an aggregate of 18,399 units, comprised of 14,383 multifamily units and 4,016 single-family residential units. The aggregate number of units are held through <span style="-sec-ix-hidden:Hidden_neLH9TkiHEOxIZeQeYuzIA;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">seventy-four</span></span> real estate investments, consisting of <span style="-sec-ix-hidden:Hidden__pXbVnXfGEa7XQouCy19jw;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">fifty-two</span></span> consolidated operating investments and <span style="-sec-ix-hidden:Hidden_XQ8gcWcJB0itedRtuKDbsw;"><span style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:normal;">twenty-two</span></span> investments held through preferred equity, loan or ground lease investments. As of June 30, 2022, the Company’s consolidated operating investments were approximately 94.6% occupied.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;"><span style="margin-bottom:12pt;visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company has elected to be treated, and currently qualifies, as a real estate investment trust (“REIT”) for federal income tax purposes. As a REIT, the Company generally is not subject to corporate-level income taxes. To maintain its REIT status, the Company is required, among other requirements, to distribute annually at least 90% of its “REIT taxable income,” as defined by the Internal Revenue Code of 1986, as amended (the “Code”), to the Company’s stockholders. If the Company fails to qualify as a REIT in any taxable year, it would be subject to federal income tax on its taxable income at regular corporate tax rates.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><i style="font-style:italic;">Proposed Merger</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">On December 20, 2021, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with Badger Parent LLC (“Parent”) and Badger Merger Sub LLC (“Merger Sub”). The Merger Agreement provides that, upon the terms and subject to the conditions set forth therein, the Company will be merged with and into Merger Sub (the “Merger”), with Merger Sub surviving the Merger. The Merger and the other transactions contemplated by the Merger Agreement were unanimously approved by the Company’s board of directors (the “Board”). Parent and Merger Sub are affiliates of Blackstone Real Estate Partners IX L.P., an affiliate of Blackstone Inc. On April 12, 2022, the Company held a special meeting of stockholders (the “Special Meeting”) at which the Merger was approved by the holders of issued and outstanding common stock, par value $0.01 per share, of the Company (the “Company Common Stock”) entitled to cast a majority of all the votes entitled to be cast on the Merger. No further action by the Company’s stockholders is required to approve the Merger.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Pursuant to the terms and conditions in the Merger Agreement, at the effective time of the Merger (the “Effective Time”), each share of Company Common Stock that is issued and outstanding immediately prior to the Effective Time will automatically be converted into the right to receive $24.25 in cash, without interest and less any applicable withholding taxes (the “Per Share Merger Consideration”).</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company will deliver a notice of redemption (the “Preferred Stock Redemption Notice”) to the holders of our Series B Redeemable Preferred Stock, par value $0.01 per share (“Series B Preferred Stock”), 7.625% Series C Cumulative Redeemable Preferred Stock, par value $0.01 per share (“Series C Preferred Stock”), 7.125% Series D Cumulative Preferred Stock, par value $0.01 per share (“Series D Preferred Stock”), and Series T Redeemable Preferred Stock, par value $0.01 per share (“Series T Preferred Stock”), in accordance with their respective Articles Supplementary, which will provide that such preferred stock will be redeemed effective as of the Effective Time. Each share of Series C Preferred Stock, Series D Preferred Stock and Series T Preferred Stock will be redeemed for an amount equal to $25.00 plus an amount equal to all accrued and unpaid dividends to and including the redemption date set forth in the Preferred Stock Redemption Notice, without interest. Each share of Series B Preferred Stock will be redeemed for an amount equal to $1,000.00 plus an amount equal to all accrued and unpaid dividends to and including the redemption date set forth in the Preferred Stock Redemption Notice, without interest.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The outstanding warrants to purchase Class A common stock of the Company (the “Company Warrants”) will remain outstanding following the Effective Time in accordance with their terms, but will be adjusted so that the holder of any Company Warrant exercised at or after the Effective Time will be entitled to receive in cash the amount of the Per Share Merger Consideration which, if the Company Warrant had been exercised immediately prior to the Closing, such holder would have been entitled to receive upon the consummation of the Merger.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">In addition, each award of shares of restricted Class A common stock of the Company that is outstanding immediately prior to the Effective Time will be cancelled in exchange for a cash payment in an amount equal to (i) the number of shares of Company Common Stock subject to such award immediately prior to the Effective Time multiplied by (ii) the Per Share Merger Consideration, without interest and less any applicable withholding taxes.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">Prior to the consummation of the Merger, the Company will complete the separation of our single-family residential real estate business (the “SFR Business”) from our multi-family residential real estate business (the “Separation”). Following the Separation, the SFR Business will be indirectly held by Bluerock Homes Trust, Inc. (“BHM”), a Maryland corporation, and the Operating Partnership, and, prior to the consummation of the Merger, the Company will distribute the common stock of BHM to the Company’s stockholders as of the record date for such distribution in a taxable distribution (the “Distribution”). Only holders of Company Warrants that are exercised so that the Company Common Stock issued in respect thereof is issued and outstanding as of the record date for the Distribution will be entitled to receive any common stock of BHM in the Distribution in respect of such Company Warrants.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">In connection with the Separation, the Operating Partnership will exchange its interests in an entity holding its multi-family residential real estate business with the Company as consideration for a redemption of all of the Company’s preferred interests in the Operating Partnership and a portion of our common units in the Operating Partnership (the “Redemption”). As a result, following the Redemption, the Operating Partnership will cease to hold interests in the Company’s multi-family residential real estate business, and will hold the assets related to the SFR Business. Most members of the Company’s senior management, along with certain entities related to them, have agreed to retain their interests in the Operating Partnership until the earlier of the Effective Time and the termination of the Merger Agreement, rather than redeeming their interests for cash or shares of Company Common Stock that will receive the Per Share Merger Consideration. As a result, following the Separation and the Distribution, the Company’s stockholders who receive shares of BHM in the Distribution are expected to indirectly own approximately 35% of the SFR Business, with holders of units in the Operating Partnership (other than BHM) expected to indirectly own an interest of approximately 65% of the SFR Business. In connection with the Separation and the Distribution, BHM and the Operating Partnership will enter into a management agreement with an affiliate of Bluerock providing for it to be externally managed thereby.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Merger Agreement contains customary representations, warranties and covenants, including, among others, covenants by the Company to use commercially reasonable efforts to conduct its business in all material respects in the ordinary course, subject to certain exceptions, during the period between the execution of the Merger Agreement and the consummation of the Merger. The obligations of Parent and Merger Sub to consummate the Merger are not subject to any financing condition or the receipt of any financing by Parent or Merger Sub.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The consummation of the Merger is conditioned on the consummation of the Separation and the Distribution, as well as certain customary closing conditions.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Company has agreed not to solicit or enter into an agreement regarding a Company Takeover Proposal (as defined in the Merger Agreement) and is not permitted to enter into discussions or negotiations concerning, or provide information to a third party in connection with, any Company Takeover Proposal, in each case subject to certain exceptions that no longer apply following the approval of the Merger by the Company’s common stockholders. </p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The Merger Agreement may be terminated under certain circumstances by the Company. In addition, Parent may terminate the Merger Agreement under certain circumstances and subject to certain restrictions. The Merger Agreement also may be terminated by either the Company or Parent if the Merger has not been completed on or prior to the date that is nine months after the date of the Merger Agreement, which date may be extended to complete the Separation and the Distribution, by the Company, up to the date that is ten months after the date of the Merger Agreement, or by Parent, up to the date that is twelve months after the date of the Merger Agreement.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">In connection with a termination of the Merger Agreement in certain circumstances, the Company will be required to pay a termination fee to Parent of $60 million. Upon termination of the Merger Agreement in certain other circumstances, Parent will be required to pay the Company a termination fee of $200 million.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The foregoing description of the Merger Agreement is only a summary, does not purport to be complete and is qualified in its entirety by reference to the full text of the Merger Agreement, which is filed as Exhibit 2.1 to the Company’s current report on Form 8-K filed with the Securities and Exchange Commission (the “SEC”) on December 21, 2021.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt;">The Company expects the Separation, the Distribution and the Merger to be completed in the second half of 2022, subject to the satisfaction of the closing conditions set forth in the Merger Agreement.</p>
CY2022Q2 us-gaap Number Of Units In Real Estate Property
NumberOfUnitsInRealEstateProperty
18399
brg Number Of Multifamily Units In Real Estate Property
NumberOfMultifamilyUnitsInRealEstateProperty
14383
brg Number Of Single Family Residential Homes
NumberOfSingleFamilyResidentialHomes
4016
CY2022Q2 brg Percent Of Real Estate Properties Occupied
PercentOfRealEstatePropertiesOccupied
0.946
brg Annual Distribution Percentage Rate
AnnualDistributionPercentageRate
0.90
CY2021Q4 us-gaap Share Price
SharePrice
24.25
CY2021Q4 brg Percentage Of Single Family Residential Business Will Be Held By Stockholders Of Bluerock Homes Trust
PercentageOfSingleFamilyResidentialBusinessWillBeHeldByStockholdersOfBluerockHomesTrust
0.35
CY2021Q4 brg Percentage Of Single Family Residential Business Will Be Held By Unitholders Of Operating Partnership
PercentageOfSingleFamilyResidentialBusinessWillBeHeldByUnitholdersOfOperatingPartnership
0.65
CY2021Q4 brg Termination Fee Payable By Company
TerminationFeePayableByCompany
60000000
CY2021Q4 brg Termination Fee Payable By Other Party
TerminationFeePayableByOtherParty
200000000
CY2022Q2 brg Percentage Of Unvested Incentive Plan In Operating Partnership
PercentageOfUnvestedIncentivePlanInOperatingPartnership
0.0460
brg Percentage Of Voting Equity
PercentageOfVotingEquity
0.50
CY2020Q2 brg Percentage Of Tenants On Deferral Payments Plan
PercentageOfTenantsOnDeferralPaymentsPlan
0.01
CY2022Q2 brg Percentage Of Tenants On Deferral Payments Plan
PercentageOfTenantsOnDeferralPaymentsPlan
0
CY2022Q2 brg Percentage Of Number Of Units Occupied
PercentageOfNumberOfUnitsOccupied
0.946
us-gaap Use Of Estimates
UseOfEstimates
<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;"><i style="font-style:italic;">Use of Estimates</i></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:18pt;margin:0pt 0pt 12pt 0pt;">The preparation of the financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.</p>
CY2022Q2 us-gaap Number Of Real Estate Properties
NumberOfRealEstateProperties
74
CY2022Q2 brg Development Properties Number Of Units
DevelopmentPropertiesNumberOfUnits
12820
CY2022Q2 brg Investments In Real Estate Of Depreciation Expense
InvestmentsInRealEstateOfDepreciationExpense
20300000
brg Investments In Real Estate Of Depreciation Expense
InvestmentsInRealEstateOfDepreciationExpense
18400000
CY2021Q2 brg Investments In Real Estate Of Depreciation Expense
InvestmentsInRealEstateOfDepreciationExpense
40200000
brg Investments In Real Estate Of Depreciation Expense
InvestmentsInRealEstateOfDepreciationExpense
37100000
CY2022Q2 brg Amortization Of Deferred Leasing Fee
AmortizationOfDeferredLeasingFee
1000000.0
brg Amortization Of Deferred Leasing Fee
AmortizationOfDeferredLeasingFee
1400000
CY2021Q2 brg Amortization Of Deferred Leasing Fee
AmortizationOfDeferredLeasingFee
2700000
brg Amortization Of Deferred Leasing Fee
AmortizationOfDeferredLeasingFee
2900000
brg Number Of Lease Up Investments Units
NumberOfLeaseUpInvestmentsUnits
353
brg Number Of Development Investment Units
NumberOfDevelopmentInvestmentUnits
1,462
brg Number Of Development Investment Units And Homes
NumberOfDevelopmentInvestmentUnitsAndHomes
2,764
brg Operating Properties Number Of Units
OperatingPropertiesNumberOfUnits
2,462
brg Number Of Total Units
NumberOfTotalUnits
5,579
us-gaap Mortgage Loans On Real Estate New Mortgage Loans
MortgageLoansOnRealEstateNewMortgageLoans
5400000
CY2022Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Land
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedLand
19955000
CY2022Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildings
87321000
CY2022Q2 brg Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Buildings Improvements
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedBuildingsImprovements
529000
CY2022Q2 brg Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Furniture And Fixtures
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedFurnitureAndFixtures
205000
CY2022Q2 brg Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed In Place Leases
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedInPlaceLeases
193000
CY2022Q2 us-gaap Business Combination Recognized Identifiable Assets Acquired And Liabilities Assumed Assets
BusinessCombinationRecognizedIdentifiableAssetsAcquiredAndLiabilitiesAssumedAssets
108203000
CY2022Q2 brg Notes Receivable Related Parties Gross
NotesReceivableRelatedPartiesGross
23100000
CY2022Q2 brg Notes Receivable Related Parties Gross
NotesReceivableRelatedPartiesGross
23123000
CY2021Q4 brg Notes Receivable Related Parties Gross
NotesReceivableRelatedPartiesGross
173882000
us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
5000
CY2021 us-gaap Provision For Loan Losses Expensed
ProvisionForLoanLossesExpensed
393000
CY2022Q2 us-gaap Notes Receivable Related Parties
NotesReceivableRelatedParties
23118000
CY2021Q4 us-gaap Notes Receivable Related Parties
NotesReceivableRelatedParties
173489000
brg Schedule Of Changes In Provision For Credit Losses
ScheduleOfChangesInProvisionForCreditLosses
The provision for credit losses of the Company’s loan investments at June 30, 2022 and December 31, 2021 are summarized in the table below (amounts in thousands):<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;min-height:0.0pt;margin:0pt;"><span style="font-size:0pt;visibility:hidden;">​</span></p><table style="border-collapse:collapse;font-size:16pt;height:max-content;margin-left:auto;margin-right:auto;padding-left:0pt;padding-right:0pt;width:100%;"><tr style="height:1pt;"><td style="vertical-align:bottom;width:71.44%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.6%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td><td style="vertical-align:bottom;white-space:nowrap;width:10.6%;margin:0pt;padding:0pt;"><div style="height:1pt;overflow:hidden;overflow-wrap:break-word;position:relative;"><div style="bottom:0pt;position:absolute;width:100%;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:1pt;visibility:hidden;">​</span></p></div></div></td></tr><tr><td style="vertical-align:bottom;width:71.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">June 30,</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;font-weight:bold;visibility:hidden;">​</span></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.01%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">December 31,</b></p></td></tr><tr><td style="vertical-align:bottom;width:71.44%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="font-size:8pt;visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">    </b></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">2022</b></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">    </b></p></td><td colspan="2" style="vertical-align:bottom;white-space:nowrap;width:12.01%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:8pt;text-align:center;margin:0pt 0pt 0.05pt 0pt;"><b style="font-weight:bold;">2021</b></p></td></tr><tr><td style="vertical-align:bottom;width:71.44%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Beginning balances as of January 1, 2022 and 2021, respectively</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.6%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 393</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.6%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 174</p></td></tr><tr><td style="vertical-align:bottom;width:71.44%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Provision for credit loss on pool of assets, net <sup style="font-size:7.5pt;line-height:100%;top:0pt;vertical-align:top;">(1)</sup></p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 0pt 0.05pt 0pt;"> (388)</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"> </p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.6%;border-bottom:1px solid #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 219</p></td></tr><tr><td style="vertical-align:bottom;width:71.44%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">Provision for credit losses, end of period</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.6%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 5</p></td><td style="vertical-align:bottom;white-space:nowrap;width:2.25%;background:#cceeff;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;"><span style="visibility:hidden;">​</span></p></td><td style="vertical-align:bottom;white-space:nowrap;width:1.41%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin:0pt 0pt 0.05pt 0pt;">$</p></td><td style="vertical-align:bottom;white-space:nowrap;width:10.6%;background:#cceeff;border-bottom:3px double #000000;margin:0pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:right;margin:0pt 3pt 0.05pt 0pt;"> 393</p></td></tr></table><div style="font-family:'Times New Roman','Times','serif';font-size:10.0pt;margin-bottom:0pt;margin-left:0pt;min-height:1.19em;position:relative;width:100%;"><div style="background-color:#000000;height:1pt;position:relative;top:0.6em;width:25.0%;border:none;margin:0 auto 0 0;"/></div><table style="border-collapse:collapse;border:0;"><tr><td style="vertical-align:text-top;white-space:nowrap;width:18pt;padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><sup style="font-size:6.75pt;line-height:100%;top:0pt;vertical-align:top;">(1)</sup></p></td><td style="padding:0pt;"><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;margin-bottom:12pt;margin-top:0pt;text-align:justify;"><span style="font-size:9pt;">Under Current Expected Credit Losses (CECL), a provision for credit losses for similar assets is calculated based on a historical default rate applied to the remaining life of the assets. The decrease in the provision during the six months ended June 30, 2022 was a result of the removal of four investments from the pool of assets and a decrease in the trailing twelve-month historical default rate.</span></p></td></tr></table>
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
393000
CY2020Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
174000
brg Financing Receivable Allowance For Credit Loss Pool Of Assets
FinancingReceivableAllowanceForCreditLossPoolOfAssets
-388000
CY2021 brg Financing Receivable Allowance For Credit Loss Pool Of Assets
FinancingReceivableAllowanceForCreditLossPoolOfAssets
219000
CY2022Q2 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
5000
CY2021Q4 us-gaap Financing Receivable Allowance For Credit Losses
FinancingReceivableAllowanceForCreditLosses
393000
CY2022Q2 us-gaap Interest Income Related Party
InterestIncomeRelatedParty
1073000
CY2021Q2 us-gaap Interest Income Related Party
InterestIncomeRelatedParty
4114000
us-gaap Interest Income Related Party
InterestIncomeRelatedParty
7825000
us-gaap Interest Income Related Party
InterestIncomeRelatedParty
8835000
CY2022Q2 brg Leasehold Improvement Allowance Funding
LeaseholdImprovementAllowanceFunding
20400000
CY2022Q2 brg Equity Method Investments Gross
EquityMethodInvestmentsGross
165716000
CY2021Q4 brg Equity Method Investments Gross
EquityMethodInvestmentsGross
136061000
CY2022Q2 brg Equity Method Investments Provision For Credit Losses Gross
EquityMethodInvestmentsProvisionForCreditLossesGross
160000
CY2021Q4 brg Equity Method Investments Provision For Credit Losses Gross
EquityMethodInvestmentsProvisionForCreditLossesGross
371000
CY2022Q2 us-gaap Equity Method Investments
EquityMethodInvestments
165556000
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
135690000
CY2022Q2 brg Equity Method Investments Provision For Credit Losses Gross
EquityMethodInvestmentsProvisionForCreditLossesGross
200000
CY2022Q2 brg Equity Method Investments Gross
EquityMethodInvestmentsGross
165700000
CY2021Q4 brg Equity Method Investments Provision For Credit Losses
EquityMethodInvestmentsProvisionForCreditLosses
371000
CY2020Q4 brg Equity Method Investments Provision For Credit Losses
EquityMethodInvestmentsProvisionForCreditLosses
16153000
CY2022Q2 brg Equity Method Investments Provision For Credit Losses
EquityMethodInvestmentsProvisionForCreditLosses
160000
CY2021Q4 brg Equity Method Investments Provision For Credit Losses
EquityMethodInvestmentsProvisionForCreditLosses
371000
brg Number Of Equity Method Investment Properties Sold During Period
NumberOfEquityMethodInvestmentPropertiesSoldDuringPeriod
4
brg Number Of Joint Ventures
NumberOfJointVentures
17
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4547000
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2329000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
8364000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4616000
CY2022Q2 srt Mortgage Loans On Real Estate Face Amount Of Mortgages
MortgageLoansOnRealEstateFaceAmountOfMortgages
38200000
CY2022Q2 us-gaap Line Of Credit
LineOfCredit
49407000
CY2022Q2 brg Mortgages Payable Excluding Payables Held For Sale
MortgagesPayableExcludingPayablesHeldForSale
1393076000
CY2021Q4 brg Mortgages Payable Excluding Payables Held For Sale
MortgagesPayableExcludingPayablesHeldForSale
1364991000
CY2022Q2 us-gaap Debt Weighted Average Interest Rate
DebtWeightedAverageInterestRate
0.0414
CY2022Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
CY2022Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
0
CY2022Q2 brg Deferred Financing Costs Net
DeferredFinancingCostsNet
11160000
CY2022Q2 us-gaap Long Term Debt
LongTermDebt
1393076000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Next Twelve Months
LongTermDebtMaturitiesRepaymentsOfPrincipalInNextTwelveMonths
11760000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Two
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearTwo
127300000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Three
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearThree
202721000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Four
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFour
332877000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal In Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalInYearFive
160185000
CY2022Q2 us-gaap Long Term Debt Maturities Repayments Of Principal After Year Five
LongTermDebtMaturitiesRepaymentsOfPrincipalAfterYearFive
561998000
CY2022Q2 us-gaap Debt Instrument Carrying Amount
DebtInstrumentCarryingAmount
1396841000
CY2022Q2 brg Unamortized Fair Value Debt Adjustment
UnamortizedFairValueDebtAdjustment
7395000
CY2022Q2 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1345300000
CY2021Q4 us-gaap Long Term Debt Fair Value
LongTermDebtFairValue
1388300000
CY2022Q2 brg Mortgage Payable At Carrying Value
MortgagePayableAtCarryingValue
1404200000
CY2021Q4 brg Mortgage Payable At Carrying Value
MortgagePayableAtCarryingValue
1374100000
CY2022Q1 brg Reimbursement Of Payroll Operating Costs
ReimbursementOfPayrollOperatingCosts
400000
CY2022Q2 brg Reimbursement Of Expenses Under Administrative Services Agreement
ReimbursementOfExpensesUnderAdministrativeServicesAgreement
1100000
brg Reimbursement Of Expenses Under Administrative Services Agreement
ReimbursementOfExpensesUnderAdministrativeServicesAgreement
600000
CY2021Q2 brg Reimbursement Of Expenses Under Administrative Services Agreement
ReimbursementOfExpensesUnderAdministrativeServicesAgreement
2300000
brg Reimbursement Of Expenses Under Administrative Services Agreement
ReimbursementOfExpensesUnderAdministrativeServicesAgreement
1500000
CY2022Q2 brg Due To Affiliates Excluding Former Advisor
DueToAffiliatesExcludingFormerAdvisor
1500000
CY2021Q4 brg Due To Affiliates Excluding Former Advisor
DueToAffiliatesExcludingFormerAdvisor
700000
CY2022Q2 brg Due From Affiliates Excluding Former Advisor
DueFromAffiliatesExcludingFormerAdvisor
1500000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-17274000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-5429000
us-gaap Net Income Loss
NetIncomeLoss
-32670000
us-gaap Net Income Loss
NetIncomeLoss
18152000
CY2022Q2 us-gaap Restricted Stock Award Forfeitures Dividends
RestrictedStockAwardForfeituresDividends
321000
us-gaap Restricted Stock Award Forfeitures Dividends
RestrictedStockAwardForfeituresDividends
767000
CY2021Q2 us-gaap Restricted Stock Award Forfeitures Dividends
RestrictedStockAwardForfeituresDividends
384000
us-gaap Restricted Stock Award Forfeitures Dividends
RestrictedStockAwardForfeituresDividends
654000
CY2022Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-17595000
CY2021Q2 us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-5813000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
-33324000
us-gaap Net Income Loss Available To Common Stockholders Basic
NetIncomeLossAvailableToCommonStockholdersBasic
17385000
CY2022Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
30022451
CY2021Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
28129862
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
29239514
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
25623537
us-gaap Weighted Average Number Diluted Shares Outstanding Adjustment
WeightedAverageNumberDilutedSharesOutstandingAdjustment
64993
CY2022Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
30022451
CY2021Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
28129862
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
29239514
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
25688530
CY2022Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.59
CY2021Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.21
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-1.14
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
0.68
CY2022Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.59
CY2021Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.21
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-1.14
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
0.68
CY2022Q2 brg Dividend Reinvestment Plan Share Price
DividendReinvestmentPlanSharePrice
25.00
CY2022Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
25214000
CY2022Q1 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
24731000
CY2022Q2 us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
25286000
CY2022Q2 us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
25524000
us-gaap Distribution Made To Limited Partner Cash Distributions Declared
DistributionMadeToLimitedPartnerCashDistributionsDeclared
50500000
us-gaap Distribution Made To Limited Partner Cash Distributions Paid
DistributionMadeToLimitedPartnerCashDistributionsPaid
50255000
CY2022Q2 brg Contractual Obligations For Loan And Joint Venture Investments
ContractualObligationsForLoanAndJointVentureInvestments
60000000.0
us-gaap Number Of Reportable Segments
NumberOfReportableSegments
2
CY2022Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
58515000
CY2021Q2 us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
49721000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
115014000
us-gaap Revenue From Contract With Customer Including Assessed Tax
RevenueFromContractWithCustomerIncludingAssessedTax
100803000
CY2022Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
21806000
CY2021Q2 us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
18909000
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
41690000
us-gaap Operating Costs And Expenses
OperatingCostsAndExpenses
38841000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-14354000
us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
14535000
CY2022Q2 brg Net Operating Income Loss
NetOperatingIncomeLoss
36709000
CY2021Q2 brg Net Operating Income Loss
NetOperatingIncomeLoss
30812000
brg Net Operating Income Loss
NetOperatingIncomeLoss
73324000
brg Net Operating Income Loss
NetOperatingIncomeLoss
61962000
CY2022Q2 us-gaap Interest Income Operating
InterestIncomeOperating
1073000
CY2021Q2 us-gaap Interest Income Operating
InterestIncomeOperating
4114000
us-gaap Interest Income Operating
InterestIncomeOperating
7825000
us-gaap Interest Income Operating
InterestIncomeOperating
8835000
CY2022Q2 brg Property Management Fee Expense
PropertyManagementFeeExpense
2104000
CY2021Q2 brg Property Management Fee Expense
PropertyManagementFeeExpense
1247000
brg Property Management Fee Expense
PropertyManagementFeeExpense
3974000
brg Property Management Fee Expense
PropertyManagementFeeExpense
2528000
CY2022Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
7284000
CY2021Q2 us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
6595000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
15204000
us-gaap General And Administrative Expense
GeneralAndAdministrativeExpense
13240000
CY2022Q2 us-gaap Acquisition Costs
AcquisitionCosts
71000
CY2021Q2 us-gaap Acquisition Costs
AcquisitionCosts
3000
us-gaap Acquisition Costs
AcquisitionCosts
116000
us-gaap Acquisition Costs
AcquisitionCosts
15000
us-gaap Loss From Catastrophes
LossFromCatastrophes
400000
CY2022Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
21425000
CY2021Q2 us-gaap Depreciation And Amortization
DepreciationAndAmortization
19926000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
43456000
us-gaap Depreciation And Amortization
DepreciationAndAmortization
40250000
CY2022Q2 us-gaap Other Income
OtherIncome
198000
CY2021Q2 us-gaap Other Income
OtherIncome
57000
us-gaap Other Income
OtherIncome
1184000
us-gaap Other Income
OtherIncome
209000
CY2022Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4547000
CY2021Q2 us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
2329000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
8364000
us-gaap Income Loss From Equity Method Investments
IncomeLossFromEquityMethodInvestments
4616000
CY2022Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-134000
CY2021Q2 us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
26000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
-930000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
567000
CY2021Q2 us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
19429000
us-gaap Gains Losses On Sales Of Investment Real Estate
GainsLossesOnSalesOfInvestmentRealEstate
88342000
CY2022Q2 brg Gain Loss On Sale Of Unconsolidated Joint Venture
GainLossOnSaleOfUnconsolidatedJointVenture
2802000
brg Gain Loss On Sale Of Unconsolidated Joint Venture
GainLossOnSaleOfUnconsolidatedJointVenture
6694000
CY2022Q2 brg Transaction Costs
TransactionCosts
2158000
brg Transaction Costs
TransactionCosts
9703000
CY2021Q2 us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-647000
us-gaap Gains Losses On Extinguishment Of Debt
GainsLossesOnExtinguishmentOfDebt
-3687000
CY2022Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-13373000
CY2021Q2 us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-13460000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-24918000
us-gaap Interest Income Expense Nonoperating Net
InterestIncomeExpenseNonoperatingNet
-27294000
CY2022Q2 us-gaap Profit Loss
ProfitLoss
-952000
CY2022Q2 us-gaap Equity Method Investments
EquityMethodInvestments
165556000
CY2021Q4 us-gaap Equity Method Investments
EquityMethodInvestments
135690000
CY2022Q2 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
97000
CY2021Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-1391000
CY2021Q2 us-gaap Profit Loss
ProfitLoss
14837000
us-gaap Profit Loss
ProfitLoss
950000
us-gaap Profit Loss
ProfitLoss
75983000
CY2022Q2 brg Impact Of Preferred Stock Dividend On Income Statement
ImpactOfPreferredStockDividendOnIncomeStatement
18557000
CY2021Q2 brg Impact Of Preferred Stock Dividend On Income Statement
ImpactOfPreferredStockDividendOnIncomeStatement
14367000
brg Impact Of Preferred Stock Dividend On Income Statement
ImpactOfPreferredStockDividendOnIncomeStatement
37129000
brg Impact Of Preferred Stock Dividend On Income Statement
ImpactOfPreferredStockDividendOnIncomeStatement
28984000
CY2022Q2 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
5639000
CY2021Q2 us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
7290000
us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
10845000
us-gaap Preferred Stock Accretion Of Redemption Discount
PreferredStockAccretionOfRedemptionDiscount
14312000
CY2022Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-6108000
CY2021Q2 us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-1978000
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
-11924000
us-gaap Noncontrolling Interest In Net Income Loss Operating Partnerships Redeemable
NoncontrollingInterestInNetIncomeLossOperatingPartnershipsRedeemable
8182000
CY2022Q2 brg Noncontrolling Interest In Net Income Loss Operating Partially Owned Properties
NoncontrollingInterestInNetIncomeLossOperatingPartiallyOwnedProperties
-1766000
CY2021Q2 brg Noncontrolling Interest In Net Income Loss Operating Partially Owned Properties
NoncontrollingInterestInNetIncomeLossOperatingPartiallyOwnedProperties
587000
brg Noncontrolling Interest In Net Income Loss Operating Partially Owned Properties
NoncontrollingInterestInNetIncomeLossOperatingPartiallyOwnedProperties
-2430000
brg Noncontrolling Interest In Net Income Loss Operating Partially Owned Properties
NoncontrollingInterestInNetIncomeLossOperatingPartiallyOwnedProperties
6353000
CY2022Q2 us-gaap Net Income Loss Attributable To Noncontrolling Interest
NetIncomeLossAttributableToNoncontrollingInterest
-7874000
CY2022Q2 us-gaap Net Income Loss
NetIncomeLoss
-17274000
CY2021Q2 us-gaap Net Income Loss
NetIncomeLoss
-5429000
us-gaap Net Income Loss
NetIncomeLoss
-32670000
us-gaap Net Income Loss
NetIncomeLoss
18152000
CY2022Q2 us-gaap Real Estate Investments
RealEstateInvestments
2127520000
CY2021Q4 us-gaap Real Estate Investments
RealEstateInvestments
2047298000
CY2022Q2 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
244924000
CY2021Q4 us-gaap Cash And Cash Equivalents At Carrying Value
CashAndCashEquivalentsAtCarryingValue
166492000
CY2022Q2 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
30807000
CY2021Q4 us-gaap Restricted Cash And Cash Equivalents
RestrictedCashAndCashEquivalents
30015000
CY2022Q2 us-gaap Notes Receivable Related Parties
NotesReceivableRelatedParties
23118000
CY2021Q4 us-gaap Notes Receivable Related Parties
NotesReceivableRelatedParties
173489000
CY2022Q2 us-gaap Due From Affiliates
DueFromAffiliates
1536000
CY2021Q4 us-gaap Due From Affiliates
DueFromAffiliates
711000
CY2022Q2 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
48543000
CY2021Q4 us-gaap Accounts And Other Receivables Net Current
AccountsAndOtherReceivablesNetCurrent
43108000
CY2021Q4 us-gaap Finite Lived Intangible Asset Acquired In Place Leases
FiniteLivedIntangibleAssetAcquiredInPlaceLeases
2530000
CY2022Q2 us-gaap Assets
Assets
2642101000
CY2021Q4 us-gaap Assets
Assets
2599333000
CY2022Q3 us-gaap Payments Of Ordinary Dividends
PaymentsOfOrdinaryDividends
19713000

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