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. Bridge strengthened its organization in 2020 through several internal initiatives, including the formation of a Diversity, Equity and Inclusion committee, and continued efforts around Environmental, Social and Corporate Governance, the Bridge Charitable Committee, and the Bridge Womens Network. Join now to get an insider's 'edge' on new issues coming to market, both before and after the IPO. 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. 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. Members of IPO Edge get the latest IPO research, news, and industry analysis. The market opportunity for being a vertically integrated real estate management firm in the U.S. is substantial, especially during a period following the COVID-19 pandemic, which may present some interesting buying opportunities for nimble investors. https://www.businesswire.com/news/home/20210119005691/en/. . 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. Bridge undertakes no duty to publicly update any forward-looking statements made herein or on the webcast/conference call or otherwise, whether as a result of new information, future developments or otherwise, except as required by law. Inna Khidekel, Chairwoman of the Bridge Charitable Giving Committee, commented that Bridge has always been at the forefront of community revitalization, and our growth has allowed us to further support the communities in which we operate. If you have an ad-blocker enabled you may be blocked from proceeding. Mr Morse is 66, he's been the Exec. All Rights Reserved. Bonni Rosen Bridge markets its funds through RIAs (Registered Investment Advisors) and directly to high-net-worth individuals, family offices and institutional investors. Mr has made over 2 trades of the Bridge Investment stock since 2015, according to the Form 4 filled with the SEC. 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. Management is headed by Chief Executive Officer Jonathan Slager, who has been with the firm since its inception and has more than 35 years experience in real estate, finance and software companies. 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. To ensure the most secure and best overall experience on our website, we recommend the latest versions of. 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. Charlotte.Morse@bridgeig.com. Chairman at Bridge Investment. Additionally, Mr. Morse was a co-founder of SSB Capital Partners, a $400 million private equity fund formed in 2000. Distributable Earnings of Bridge Investment Group Holdings LLC . Chairman of Bridge Investment since . 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. The S&P 500 Index no longer admits firms with multiple classes of stock into its index. 51 Ratings. Mike Sodo, CEO of Bridge Industrial Net Lease Fund Manager LLC (the Fund Manager) is a co-founder of the vertical and member of the Investment Committee (the Investment Committee) of the general partner of the fund (the General Partner), with over 20 years of experience in the real estate, finance and accounting industries. 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. As of March 31, 2021, management said it had approximately $26 billion of AUM across its funds and other investment vehicles. QuoteMedia. afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. Bridge believes it is the leading Opportunity Zone Fund manager. Last updated: 1 March 2023 at 11:00am EST. charlotte.morse@bridgeig.com, Jonathan Keehner / Kara Brickman / Erik Carlson 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. 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.. Robert Randolph Morse is the Exec. PD=Previous Day. Market Data copyright 2023 QuoteMedia. Robert Morse. The firm seeks to directly operate the. On average, Bridge Investment executives and independent directors trade stock every 0 days with the average trade being worth of $46,431. These are qualitative in nature and are at the discretion of TIGER 21 and the Chair of the Group. As Executive Chairman, Robert is integrally involved in the management, strategy and capitalization of Bridge. Terms of Use. As the Exec. I wrote this article myself, and it expresses my own opinions. Free cash flow during the twelve months ended March 31, 2021, was $129 million. Listed bookrunners of the IPO are Morgan Stanley, J.P. Morgan, Citigroup and other investment banks. Use tab to navigate through the menu items. Bridge declared a quarterly dividend of $0.17 per share of its Class A common stock, payable on March 24, 2023 to its Class A common stockholders of record at the close of business on March 10, 2023. 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. Senior Managing Director & President, Bridge Debt Capital Markets . The presentation is titled Fourth Quarter 2022 Earnings Presentation.. GBC is a privately held, vertically integrated investment management firm focused on investing in the single-family home rental ("SFR") industry. delay times for all exchanges). Data delayed Bridge combines its 4,200+-person, nationwide operating platform with specialized teams of investment professionals focused on select US real estate verticals, which Bridge believes offer above-market opportunity: multifamily, office, seniors housing, workforce & affordable housing, opportunity zones, and debt strategies. 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. We delivered outstanding results to our investors, we provided critical support to our resident and tenant communities and continued to strengthen our organization in a myriad of ways. We demonstrated this within our Debt Strategies vertical, investing over $1.2 billion opportunistically from 2Q to 4Q 2022, and have $3.5 billion of dry powder across our funds to invest at what we think will be an attractive point in the cycle.. Robert Morse Age : 66 Public asset : 788,819,788 USD Country of residence : Unknown Linked companies : Amkor Technology, Inc. - Bridge Investment Group Holdings Inc. Management plans to distribute substantially all of its distributable earnings as dividend on a quarterly basis but provided no guidance or expectation as the initial annual yield post-IPO. 5.0 . Prior to joining Bridge, Mr. Freeman was responsible for business development, deal sourcing, capital sourcing, establishing and maintaining relationships with operating partners and ensuring successful investment execution at Cardinal Industrial. Bridge Investment Group Net Income was $18.2 million and $272.4 million for the quarter and year ended December 31, 2022, respectively. . The most active insiders traders include Chad A Leat, Robert Randolph Morse, and Deborah C Hopkins. He previously held a variety of senior positions since joining Salomon Brothers in 1985. Source: Bridge Investment Group Holdings Inc. Market Data copyright 2023 QuoteMedia. The structure of our fund capital allows us to be patient and selective while also nimble to take advantage of opportunities generated from market dislocations. Bridge reported strong results for the third quarter. In some cases, you can identify forward-looking statements by terms such as outlook, could, believes, expects, potential, opportunity, continues, may, will, should, over time, seeks, predicts, intends, plans, estimates, anticipates, foresees or negative versions of those words, other comparable words or other statements that do not relate to historical or factual matters. 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.. Please complete this form to receive a copy of the TIGER 21 quarterly Asset Allocation report. Robert Morse, Bridge's Executive Chairman, remarked "Bridge delivered another quarter of strong results with fundraising inflows of $1.3 billion, driven by continued demand for our flagship . Please see below for criteria for TIGER 21 Membership. TJ STANLEY INVESTMENT GROUP,INC. Robert Morse, Bridges Executive Chairman, remarked Bridge delivered another strong year of financial results despite a challenging macroeconomic environment. Also, the company has over 6,500 fund investors representing 57% of committed capital and 115 institutional investors accounting for the other 47%. Banyan Investment Group is a growing leader in the Hotel Investment and Management industry. On the appointment of the Bridge Industrial Net Lease team, Morse said: We are thrilled to welcome Mike, Matt, Brandon and James to the Bridge team. The estimated Net Worth of Robert Randolph Morse is at least $2.32 Million dollars as of 24 May 2022. This, combined with the demographic tailwinds, new supply moderating, and product validation during the pandemic make this next cycle an exceptional landscape to drive outsized returns, explained Robb Chapin, Chief Executive Officer of Bridge Seniors. knewingham@prosek.com Vice Chairman & Head of Client Solutions Group. This field is for validation purposes and should be left unchanged. *Please note that meeting the specific quantitative requirement of a minimum of $10MM in investable assets does not automatically guarantee admittance into TIGER 21. He has over 30 years of experience in investment banking, commercial banking, and private equity fund management. Bob Morse, Bridge Investment Group LLC: Profile and Biography - Bloomberg Markets Bloomberg TV+ Next Big Risk Hosted by Bloomberg's Sonali Basak, "Next Big Risk" asks three titans of the. 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. Accordingly, we caution you that any such forward-looking statements are based on our beliefs, assumptions and expectations as of the date made, taking into account all information available to us at that time. 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. Chairman at Bridge Investment. Bridge ended 2020 with over $25 billion of AUM. 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 I wrote this article myself, and it expresses my own opinions. Fee Related Earnings to the Operating Company were $30.9 million and $158.3 million for the quarter and year ended December 31, 2022, respectively. I am not receiving compensation for it (other than from Seeking Alpha). Participants are asked to dial in a few minutes prior to the call to register for the event. SALT LAKE CITY, Utah-- (BUSINESS WIRE)-- Bridge Investment Group Holdings Inc. (NYSE: BRDG) ("Bridge" or the "Company") today reported its financial results for the fourth quarter and year ended December 31, 2022. He is also on the board of Amkor Technology, Inc. Any forward-looking statement speaks only as of the date on which it is made. Investors: Agency MBS issuance volumes have grown over 100% as mortgage rates declined to multi-decade historical lows, boosting demand for refinancing and new home loans, said Mohit Chandarana, Chief Investment Officer of Bridge AMBS. . There are currently three active principals. Bridge ended 2020 with over $25 billion of AUM. The firm seeks to directly operate the properties it owns, which now span 40 U.S. states in both primary and secondary markets. All content is posted anonymously by employees working at Bridge Investment Group. Within this new strategy, Bridge will leverage its nationwide real estate platform and deep in-house operating platforms, which is expected to enable Bridge Industrial Net Lease to efficiently acquire, manage, re-lease, and maximize returns in stabilized industrial assets for the strategy. 646-818-9050 Bridge Investment Group has raised $500 million for its Opportunity Zone Fund, and will begin targeting projects nationwide. New supply of Class B multifamily is severely constrained, and occupancy is projected to remain high with steady rental rate increases. Assuming a successful IPO, the companys enterprise value at IPO would approximate $1.6 billion, excluding the effects of underwriter over-allotment options. In his past career Mr. Morse was Chairman, Managing Director & Co-CEO at Primus Financial Holdings Ltd., Chairman & Chief Executive Officer for PMC Partnership Ltd., CEO-Asia Institutional Clients Group at Citigroup, Inc. and Head-Investment Banking at Salomon Smith Barney, Inc. (a subsidiary of Citigroup, Inc.) and Principal at Salomon Brothers. Bridge Investment Group Holdings Inc ( NYSE: BRDG) Q4 2022 Results Conference Call February 14, 2023 8:30 AM ET Company Participants Bonni Rosen - Head of Shareholder Relations Katherine. Bridge Investment executives and other stock owners filed with the SEC include: Track performance, allocation, dividends, and risks, Annotate, download XLSX & look up similar tables, Filter, compare, and track coins & tokens, Stocks and cryptocurrency portfolio tracker. Chairman of Bridge Investment, the total compensation of Mr Morse at Bridge Investment is $1,305,863. He has over 30 years of experience in investment banking, commercial banking, and private equity fund management. Investor Contact Charlotte Morse Bridge Investment Group 646-844-0901 Charlotte.Morse@bridgeig.com Contacts Media Contact Kaitlin Newingham Prosek Partners 646-818-9050 knewingham@prosek.com Kaitlin Newingham Through analytical structuring and extensive, data driven stress testing, Bridge AMBS seeks to deliver 8-10% net to the investor current yield coupled with monthly liquidity to investors in this strategy. mesurer votre utilisation de nos sites et applications. The primary risks to the companys outlook is a rise in interest rates raising its cost of capital or an economic downturn from a resurgence in COVID-19 variant infections in the U.S. As for valuation, compared to Brookfield, Bridge is generating free cash flow per share yield of 7.35% versus BAMs forward yield of 1.02%. The largest trade he's ever made was exercising 20,000 units of Bridge Investment stock on 24 May 2022 worth over $93,600. New Industrial Strategy to be led by the newly appointed Bridge Industrial Net Lease team. Robert Morse has served as Chairman of Bridge and Executive Chairman of Bridge Multifamily Fund Manager since January 2012. Prosek Partners knewingham@prosek.com, Investor Contact Mr. Freeman has over 10 years of commercial real estate experience and has been involved in the acquisition, management and disposition of more than $1 billion in commercial real estate assets. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. View source version on businesswire.com: https://www.businesswire.com/news/home/20210119005691/en/, Media: Disclosure: 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. Kaitlin Newingham Bridge is a privately-held real estate investment management firm with $25+ billion in assets under management as of December 31, 2020. 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.
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