Bridge Investment Group Holdings Inc. Reports Second Quarter 2021 Results | Company
SALT LAKE CITY – (BUSINESS WIRE) – August 10, 2021–
Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today announced its financial results for its second quarter ended June 30, 2021.
Total Income and Investment income for Bridge Investment Group Holdings LLC (the “Operating Company”) were $ 72.0 million and $ 79.9 million, respectively, for the quarter ended June 30, 2021.
Net revenue applicable to the operating company was $ 83.2 million for the quarter ended June 30, 2021.
Distributable profits to the operating company were $ 55.7 million, of which 100% has been or will be distributed to the owners of the operating company at the close of business on June 30, 2021.
On July 20, 2021, the Company closed its initial public offering of 18,750,000 Class A common shares at a public offering price of $ 16.00 per share.
Releasing these quarterly results, Robert Morse, Executive Chairman of Bridge, said: “Our successful IPO is an important milestone in Bridge’s evolution as a high performing and dedicated alternative asset management company. We believe that our concentration of specialized investments in the most attractive real estate sectors and our vertical integration in property management generate attractive returns. We have continued to expand our focus areas to include logistics and greater penetration of the global investor base, initiatives that should further amplify our growth and returns. “
Mr. Morse continued, “In addition to reporting strong total income and investment income, we are proud that our second quarter results represent new highs for paid assets under management, commission income, commission income and commissions. performance and distributable profits. We see huge growth opportunities for Bridge’s differentiated approach to investment management, and we look forward to sharing more with our shareholders in the quarters and years to come.
Jonathan Slager, CEO of Bridge, added: “We are delighted to share our first results update as a public company and to report record second quarter results. The $ 16 trillion commercial real estate market has experienced a strong recovery since the start of the year across all real estate sectors. We believe Bridge is well positioned to capitalize on these trends given recent logistics strategy launches and an active pipeline of next generation strategies. We believe that our ability to raise and deploy capital is largely a function of our strong performance, and we look forward to generating similar value creation for our public shareholders as they benefit from the growth in our bottom line and earnings. distributable over time. “
Bridge Investment Group Holdings Inc. has released a full, detailed presentation of its second quarter 2021 results, which can be viewed at www.bridgeig.com in the Investors section of our home page. The presentation is entitled “Presentation of second quarter 2021 results”.
Conference Call and Webcast Information
The Company will hold a conference call on August 11, 2021 at 8:30 a.m. ET to discuss its second quarter results. Interested parties can access the live conference call over the phone by dialing 1-877-405-1210 (toll-free) or 1-201-689-8721 (toll-free / international) and requesting the second quarter 2021 of Bridge Investment Group Holdings Inc. Earnings Conference Call. Participants are requested to dial the number a few minutes before the call to register for the event. The event will also be available live via an accessible webcast. here.
An audio replay of the conference call will be available approximately three hours after the conference call until 11:59 p.m. ET on August 25, 2021 and can be viewed by dialing 1-877-660-6853 (national) or 1-201- 612 -7415 (international) and providing the access code 13721951.
About Bridge Investment Group Holdings Inc.
Bridge is a leading, vertically integrated real estate investment manager, diversified into specialized asset classes, with approximately $ 28.7 billion in assets under management as of June 30, 2021. Bridge combines its platform of Nationally operated with dedicated teams of investment professionals focused on select US real estate. Real estate verticals: collective housing, affordable housing, senior housing, offices, development, logistics net leasing, logistics properties, debt strategies and agency mortgage backed securities.
This earnings 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 financial performance or conditions. 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 “prospects”, “might”, “might”, “believes”, “expects”, “‘expects’,” “should” , “over time”, “seeks”, “predicts”, “intends”, “plans”, “estimates”, “plans”, “plans” or negative versions of these words, others comparable words or other statements that do not relate to historical or factual matters. Accordingly, we caution you that these forward-looking statements are based on our beliefs, assumptions and expectations as of the date of our future performance, 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 in forward-looking statements due to a number of factors, including, but not limited to, the risks described from time to time in our documents filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it is made. Bridge Investment Group Holdings Inc. assumes no obligation to publicly update any forward-looking statements made here or during the webcast / conference call, whether as a result of new information, future developments or otherwise, except as required by law. requires it.
Nothing in this press release constitutes an offer to sell or the solicitation of an offer to buy any securities of the Company or of an investment fund managed by the Company or its affiliates.
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CONTACT: Investor Relations Contact:
Bridge Investment Group Holdings Inc.
KEYWORD: UNITED STATES NORTH AMERICA UTAH
INDUSTRY KEYWORD: REIT FINANCE PROFESSIONAL SERVICES COMMERCIAL BUILDING AND REAL ESTATE CONSTRUCTION AND PROPERTY
SOURCE: Bridge Investment Group Holdings Inc.
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PUB: 08/10/2021 16:05 / DISC: 08/10/2021 16:06