Bluerock Private Real Estate Fund (BPRE) Trustee Jafarnia Kamal Receives Award

What Happened
Jafarnia Kamal, a trustee of Bluerock Private Real Estate Fund (BPRE), acquired a total of 1,012.47 shares in three separate "other acquisition" transactions, totaling roughly $15,000. The entries show: 333.33 shares at $15.00 (=$5,000) on 2025-12-31; 301.02 shares at $16.61 (=$5,000) on 2026-03-31; and 378.12 shares at $13.22 (=$4,999) on 2026-06-30. Footnote F1 indicates these shares were granted as part of the trustees' compensation plan — effectively a compensation award rather than an open-market purchase.

Key Details

• Transaction dates & prices:
  • 2025-12-31: 333.33 shares @ $15.00 = $5,000
  • 2026-03-31: 301.02 shares @ $16.61 = $5,000
  • 2026-06-30: 378.12 shares @ $13.22 = $4,999
• Total received: 1,012.47 shares, $14,999 ($15k)
• Shares owned after transaction: Not disclosed in the provided filing
• Footnotes/remarks: F1 = shares granted under trustees' compensation plan. Filing executed by attorney-in-fact under a limited power of attorney dated 7-19-22.
• Timeliness: The Form 4 was filed 2026-08-27 for transactions occurring in 2025–2026 — this filing appears late relative to Section 16’s typical two-business-day reporting requirement.

Context
These were compensation awards to a trustee (not open-market buys), which are routine for board/trustee pay and do not necessarily signal personal bullishness. The total dollar amount is modest (~$15k), so this is more a record of compensation than a material insider investment.