SALT LAKE CITY, August 10, 2021– (BUSINESS WIRE) – Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today announced its financial results for the second quarter ended June 30, 2021.
total revenue and Investment income for Bridge Investment Group Holdings LLC (the “Operating Company”) for the quarter ended June 30, 2021 were $ 72.0 million and $ 79.9 million, respectively.
Net income The total applicable to the Operating Company was $ 83.2 million for the quarter ended June 30, 2021.
Distributable Income to the operating company, 100% of which was 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 completed its initial public offering of 18,750,000 Class A common shares at a public offering price of $ 16.00 per share.
On the release of these quarterly results, Robert Morse, Bridge’s Executive Chairman commented: “Our successful IPO is an important step in the development of Bridge into a high performing and purpose-built alternative asset management company. Attractive sectors within the real estate industry and our vertical integration with real estate management provide attractive returns . We continued to broaden our focus to include logistics and greater penetration of the global investor base, initiatives that we expect to further enhance our growth and returns. “
Mr. Morse continued, “We are proud that our second quarter results report not only strong total and investment income, but also new highs for fee-based AUM, fee-related income, realized service fees and distributable income. We are seeing tremendous growth.” Opportunity for Bridge’s differentiated approach to investment management and we look forward to sharing more with our shareholders in the quarters and years ahead. “
Jonathan Slager, Bridge’s chief executive officer, added, “We are excited to announce our first earnings update as a publicly traded company and to announce record results for the second quarter. The $ 16 trillion commercial real estate market has rallied strongly since the beginning of the year. ”We believe Bridge is well-positioned to capitalize on these trends, with recent logistics strategy implementations and an active pipeline of next-generation strategies. We believe that our ability to raise and deploy capital depends largely on our strong performance, looking forward to creating similar value for our public shareholders as they benefit from the growth of our net income and distributable income over time. “
Bridge Investment Group Holdings Inc. has published a detailed presentation of the results for the second quarter of 2021, which can be viewed at www.bridgeig.com in the “Investors” section of our website. The presentation is entitled “Earnings Presentation for the Second Quarter 2021”.
Conference call and webcast information
The company will host a conference call on August 11, 2021 at 8:30 a.m. ET to discuss second quarter results. Interested parties can access the conference call live over the phone at 1-877-405-1210 (toll-free) or 1-201-689-8721 (paid / international) and request the second quarter of 2021 conference call from Bridge Investment Group Holdings Inc. the receipts. Attendees are asked to dial in a few minutes before the call to register for the event. The event will also be broadcast live via a webcast which can be accessed here.
An audio recording of the conference call will be available approximately three hours after the conference call through August 25, 2021 at 11:59 p.m. ET and can be accessed by calling 1-877-660-6853 (domestic) or 1-201-612-7415 (international) and stating the passcode 13721951.
About Bridge Investment Group Holdings Inc.
Bridge is a leading, vertically integrated real estate investment manager that is diversified across specialized asset classes and has assets under management of around 28.7 billion real estate sectors as of June 30, 2021: apartment buildings, affordable housing, senior housing, office, development, logistics net leasing, logistics real estate , Debt strategies and agency mortgage-backed securities.
This earnings announcement contains certain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that address future events or our future performance or financial condition. All statements that are not historical facts may be forward-looking statements. In some cases, you can refer to forward-looking statements by using words such as “outlook,” “could,” “believes,” “expects,” “potentially,” “opportunity,” “further,” “could,” “will,” “should”, “Over time,” “aiming,” “predicting,” “intending,” “planning,” “estimating,” “anticipating,” “anticipating” or negative versions of these words, other comparable words or other statements that are not historical or have a factual reference. Accordingly, we caution you that such forward-looking statements are based on our beliefs, assumptions and expectations at the time 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 are beyond our control. Actual results could differ materially from those expressed or implied in any forward-looking statement due to a number of factors including but not limited to the risks described from time to time in our filings with the Securities and Exchange Commission . Any forward-looking statement is only valid at the time of its publication. Bridge Investment Group Holdings Inc. assumes no obligation to publicly update any forward-looking statements made herein or in the webcast / conference call, whether as a result of new information, future developments or otherwise, unless required by law.
Nothing in this press release constitutes an offer to sell or a solicitation of an offer to buy any securities in the Company or any mutual fund managed by the Company or its affiliates.
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Bridge Investment Group Holdings Inc.