Senior Managing Director & President, Bridge Debt Capital Markets . New supply of Class B multifamily is severely constrained, and occupancy is projected to remain high with steady rental rate increases. We see continued opportunity in many markets and many verticals as we head into 2021.. Bridge owns or manages over 42,000 units today and plans to deploy over $2.0 billion of equity to acquire or develop assets in the multifamily space over the next two years. Net Income was $18.2 million and $272.4 million for the quarter and year ended December 31, 2022, respectively. Chairman of Bridge Investment since . Jonathan Slager. 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. The transaction will add significant assets to the Bridge platform, while enabling Bridge to expand into the rapidly growing private equity secondaries market. I am not receiving compensation for it (other than from Seeking Alpha). There are no executives at Bridge Investment getting paid more. Robert Morse - Executive Chairman - Bridge Investment Group | LinkedIn Robert Morse Executive Chairman: Bridge Investment Group Wilson, Wyoming, United States 1K followers 500+ connections. During Roberts tenure, Citigroup was awarded the Best Bank in Asia award annually by FinanceAsia, EuroMoney and The Asset magazines and in selected client surveys. There are no older and 5 younger executives at Bridge Investment. Interested parties may access the conference call live over the phone by dialing 1-877-405-1210 (domestic) or 1-201-689-8721 (international) and requesting Bridge Investment Group Holdings Inc.s Fourth Quarter 2022 Earnings Conference Call. 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 . afficher des publicits et des contenus personnaliss en fonction de vos profils de centres dintrt; mesurer lefficacit des publicits et contenus personnaliss; et. 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. (877) 866-4540 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. In a separate press release issued today, Bridge announced it has entered into a definitive agreement to acquire substantially all of the business of Newbury Partners LLC, an investment manager that specializes in acquiring limited partnership interests through secondary transactions, for $320.1 million. Robert Morse Age : 66 Public asset : 788,819,788 USD Country of residence : Unknown Linked companies : Amkor Technology, Inc. - Bridge Investment Group Holdings Inc. 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. 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. 646-844-0901 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. Biography of Robert Morse Founder of Primus Financial Holdings Ltd., Robert R. Morse currently is Executive Chairman of Bridge Investment Group Holdings, Inc. Isela Rosales, MD of ESG at Bridge, further mentioned that 2020 was a milestone year for Bridge on the ESG front. Mr Morse owns over 20,000 units of Bridge Investment stock worth over $1,009,649 and over the last 10 years he sold BRDG stock worth over $0. Si vous souhaitez personnaliser vos choix, cliquez sur Grer les paramtres de confidentialit. Morgan Stanley is the lead left underwriter and IPOs led by the firm over the last 12-month period have generated an average return of 22.7% since their IPO. Free cash flow for the twelve months ended March 31, 2021, was $129 million. He has over 30 years of experience in investment banking, commercial banking, and private equity fund management. Chief Operating Officer. As leaders in a private market solution to workforce housing, we continue to prove that you can do well by doing good, said Brock Andrus, Deputy Chief Investment Officer of Bridges Workforce & Affordable Housing strategy. 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 51 Ratings. Mr Morse is 66, he's been the Exec. 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%. Their collective experience is vital to our success as we move into the increasingly important industrial net lease vertical., About the Bridge Industrial Net Lease team. 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. I am not receiving compensation for it (other than from Seeking Alpha). PD=Previous Day. Our newer strategies continue to scale as demonstrated by the $1.3 billion of gross capital deployed by our logistics team, a strong portfolio of over 3,300 homes in our Single-Family Rental platform, and a growing Net Lease Income vehicle. This report is intended for educational purposes only and is not financial, legal or investment advice. Mr Morse is 66, he's been the Exec. If you have an ad-blocker enabled you may be blocked from proceeding. Executive Chairman. These are qualitative in nature and are at the discretion of TIGER 21 and the Chair of the Group. Robert R. Morse received an undergraduate degree from Yale University, an undergraduate degree from Harvard Law School and an undergraduate degree from Harvard Business School. TIGER 21, LLC is not affiliated or associated with Tiger Management, L.L.C, Julian Robertson, or any investment manager or fund operated or licensed by Tiger Management L.L.C, Chairman, Bridge Investment Group Partners, LLC. 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. As a fully vertically-integrated real estate investment manager, Bridge operates almost every asset it acquires or develops. Katie Elsnab. As CEO, Mr. Sodo oversees the business activities of the vertical, including real estate investment decisions, banking relationships, capital origination, investor relations, and executive oversight of the vertical. A significant current supply/demand imbalance, coupled with approaching functional obsolescence of meaningful supply, provides the fundamentals for an extraordinary investment opportunity. This Domestic for Profit company is located at 13331 SW 45TH DRIVE, MIRAMAR, FL, 33027 and has been running for eleven years. https://www.businesswire.com/news/home/20230214005295/en/. 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We provide the highest level of value to our residents, from best in class amenities to a dedicated social programming center at each community. The most active insiders traders include Chad A Leat, Robert Randolph Morse, and Deborah C Hopkins. The most recent stock trade was executed by Deborah C Hopkins on 20 July 2021, trading 6,000 units of BRDG . Bridge Investment Group Holdings Inc. Robert Morse has served as Chairman of Bridge and Executive Chairman of Bridge Multifamily Fund Manager since January 2012. This Florida Limited Liability company is located at 2049 SW 118TH AVE, MIRAMAR, FL, 33025 and has been running for three years. Bridge Investment Group Holdings Inc. (BRDG). SALT LAKE CITY, (BUSINESS WIRE) -- Bridge Investment Group Holdings Inc. (NYSE: BRDG) ("Bridge") announced today their 2023 promotions to Senior Managing. An audio replay of the conference call will be available approximately three hours after the conference call until 11:59 p.m. Since 2019 and across three funds, Bridge has raised and deployed nearly $2 billion of equity to pursue 35 development projects aggregating $4.5 billion of value. Gain Insight and actionable information on U.S. IPOs with IPO Edge research. Robert Randolph Morse is the Exec. Building on Bridges deep industry expertise and multi-cycle track record as a seasoned owner/operator, Bridge Office offers specialized opportunities in acquiring well-located, high-quality office assets with outstanding risk/reward metrics. He is also on the board of Amkor Technology, Inc. I wrote this article myself, and it expresses my own opinions. Bridge has equity and debt investments in multifamily, office, workforce housing, senior housing, logistics and other investment classes. General & Administrative expenses as a percentage of total revenue have been stable as revenues have increased, as the figures below indicate: The General & Administrative efficiency rate, defined as how many dollars of additional new revenue are generated by each dollar of General & Administrative spend, increased to 0.9x in the most recent reporting period, as shown in the table below: Management forecasts a strong need for affordable housing via an informed, socially responsible approach. I have no business relationship with any company whose stock is mentioned in this article. Actual results may differ materially from those express or implied in the forward-looking statements as a result of a number of factors, including but not limited to those risks described from time to time in our filings with the Securities and Exchange Commission. Investors: The underlying investments, in Government-guaranteed agency mortgage backed securities have never experienced a single dollar of defaults. We anticipate continuing our Opportunity Zone investment activity into 2021 and remain very excited about this programs impact on these underserved communities.. This press release contains forward-looking statements about our beliefs and expectations related to the market and our industrial strategy, which are subject to various risks and may change. charlotte.morse@bridgeig.com, Jonathan Keehner / Kara Brickman / Erik Carlson Banyan Investment Group is a growing leader in the Hotel Investment and Management industry. Chairman at Bridge Investment. The transaction is expected to close in the first half of 2023 and is subject to customary closing conditions, including regulatory and investor approvals. Media Contact Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $43.3 billion of assets under management as of December 31, 2022. Chairman at Bridge Investment. ET on February 28, 2023 and can be accessed by dialing 1-877-660-6853 (domestic) or 1-201-612-7415 (international), and providing the passcode 13736320. Bridge believes it is the leading Opportunity Zone Fund manager. Our Professionals LEAD OUR SPECIALIZED VERTICALS WITH FULLY INTEGRATED TEAMS, Chief Executive Officer & Co-Chief Investment Officer, Bridge Multifamily, Vice Chairman & Head of Client Solutions Group, Senior Managing Director & President, Bridge Debt Capital Markets, Senior Managing Director, Bridge Debt Capital Markets, Senior Managing Director & Co-Chief Investment Officer, Bridge Multifamily, Senior Managing Director & Chief Investment Officer, Bridge AMBS, Senior Managing Director & Chief Executive Officer, Co-Chief Investment Officer, Bridge Seniors Housing & Medical Properties, Senior Managing Director & Chief Investment Officer, Bridge Debt Strategies, Senior Managing Director & Chief Investment Officer, Bridge Development and Opportunity Zones, Senior Managing Director & Chief Executive Officer, Co-Chief Investment Officer, Bridge Logistics Properties, Senior Managing Director & President, Bridge Property Management, Co-Chief Investment Officer, Bridge Multifamily, Senior Managing Director, Acquisitions & Co-Chief Investment Officer, Bridge Workforce & Affordable Housing, Senior Managing Director, Client Solutions Group, Senior Managing Director & Co-Chief Investment Officer, Bridge Net Lease, Senior Managing Director & Co-Chief Investment Officer, Bridge Logistics Properties, Senior Managing Director & Co-Chief Executive Officer, Bridge Single-Family Rental, Senior Managing Director, General Counsel, Senior Managing Director & Chief Investment Officer, Bridge Renewable Energy, Senior Managing Director & Chief Asset Officer, Bridge Debt Strategies, Senior Managing Director & Deputy Chief Investment Officer, Bridge Debt Strategies, Senior Managing Director & Head of Asia, Client Solutions Group. All content is posted anonymously by employees working at Bridge Investment Group. Mar 2021 - Present2 years Salt Lake City, Utah, United States In 2008, John S Pennington Jr co-founded Bridge Investment Group's $28 billion family of private equity investment funds that. Use tab to navigate through the menu items. Also, the company has over 6,500 fund investors representing 57% of committed capital and 115 institutional investors accounting for the other 47%. Use tab to navigate through the menu items. I analyze fundamental company performance and my conclusions may not be relevant for first-day or early IPO trading activity, which can be highly volatile and unrelated to company fundamentals. TIGER 21 produces a quarterly Asset Allocation Report that measures the aggregate asset allocation exposures of its Members based upon their Portfolio Defense presentations. A breakdown of Bridges vertical investment theses and highlights from 2020 are included below: Designed to target development and re-development projects in underserved areas, Bridges Opportunity Zone strategy provides attractive real estate exposure along with the tax benefits associated with opportunity zone investment. 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. 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. Source: Bridge Investment Group Holdings Inc. Market Data copyright 2023 QuoteMedia. Our Professionals LEAD OUR SPECIALIZED VERTICALS WITH FULLY INTEGRATED TEAMS Robert Morse Executive Chairman Jonathan Slager Chief Executive Officer & Co-Chief Investment Officer, Bridge Multifamily Dean Allara Vice Chairman & Head of Client Solutions Group Adam O'Farrell Chief Operating Officer Katie Elsnab Chief Financial Officer Brad Andrus Bridge Investment Group Holdings has filed to raise $300 million in a U.S. IPO. Major competitive or other industry participants include: Bridges recent financial results can be summarized as follows: Below are relevant financial results derived from the firms registration statement: As of March 31, 2021, Bridge had $134 million in cash and $223 million in total liabilities. Bridge AMBS has had a successful year deploying capital into the agency mortgage-backed securities market. 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. 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 mesurer votre utilisation de nos sites et applications. 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. Listed bookrunners of the IPO are Morgan Stanley, J.P. Morgan, Citigroup and other investment banks. On the strategy launch, Robert Morse, Executive Chairman of Bridge, said: Bridge sees key market opportunity in the industrial real estate sector. Bridge Debt Strategies Fund Manager LLC (Bridge Debt Strategies) employs an all-weather, income-focused strategy to create a diversified portfolio, focusing on a mix of first mortgage floating-rate loans, and Freddie Mac K-Series subordinated tranches. Bridge intends to raise $300 million in gross proceeds from an IPO of its Class A common stock, offering 18.75 million shares at a proposed midpoint price of $16.00 per share. The Bridge Cares COVID-19 Relief Fund, 100% funded by Bridge principals and affiliates, provided almost $2 million of financial assistance to residents, delivered over 60,000 meals to residents and assisted in gaining access other support. Additional disclosure: My research is focused on identifying quality IPO companies at a reasonable price. Brian . Robert Morse, Bridges Executive Chairman, remarked Bridge delivered another strong year of financial results despite a challenging macroeconomic environment. Bridge Investment Group has raised $500 million for its Opportunity Zone Fund, and will begin targeting projects nationwide. 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. 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 performance or financial condition. Bridge Debt Strategies Fund Manager is focused on debt investments primarily against recession-resistant multifamily assets with attention to liquid, high-growth secondary markets in the US, said James Chung, Chief Investment Officer for the Bridge Debt Strategy. Mr. Morse also serves on a variety of charitable organization boards, including the Yale Presidents Council on International Activities, The Sovereign Art Foundation, and the Asia Society. Distributable earnings per share increased 12% year-over-year to $0.29, driven by the consistent growth in fee-earning AUM and management fee. Prosek Partners Now another company with a significant presence in residential is moving into logistics: Bridge Investment Group LLC, which has announced the launch of Bridge Logistics Properties. 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 Co-CIO, Mr. Flickinger oversees the sourcing, negotiating and structuring of investments throughout the U.S. As an integrated property manager, we seek to deliver outstanding value for the rental dollar, through the provision of extensive community and social programming at our communities, to deliver much more than simply four walls and a roof to our valued residents.. Chairman at Bridge Investment. 5.0 . knewingham@prosek.com, Investor Contact 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 sectors significant growth is driven by the long-term demographics of the seniors cohort, which will increase in size three times faster than in the prior 10 years. Bridge Investment Group Holdings Inc. issued a full detailed presentation of its fourth quarter and full year 2022 results, which can be viewed on the Investors section of our website at www.bridgeig.com. Bridges specialized investment teams deploy capital into high-growth, resilient sectors of multifamily residential, prime suburban commercial office and seniors housing. 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. (212) 355-4449. About Bridge Investment Group Bridge is a leading, vertically integrated real estate investment manager, diversified across specialized asset classes, with approximately $31.8 billion of. 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. View source version on businesswire.com: https://www.businesswire.com/news/home/20230214005295/en/, Shareholder Relations: The firm seeks to directly operate the. 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.. 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. Bridge Investment Group Chief Financial Officer. A figure under 10% is generally considered a low float stock which can be subject to significant price volatility. Bridge markets its funds through RIAs (Registered Investment Advisors) and directly to high-net-worth individuals, family offices and institutional investors. Tenant demands require asset owners to be engaged and responsive, and prioritize the prime suburban locations that have always been the Bridge focus.. Bonni Rosen The pandemic has only heightened the acute need for quality workforce and affordable housing in America. 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. Charlotte.Morse@bridgeig.com. Chairman of Bridge Investment since . All Rights Reserved. Terms of Use. Vice Chairman & Head of Client Solutions Group. 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.. Mr. Morse currently serves on the investment committees for the general partners of Bridge MF/CO Funds I, II, and. delay times for all exchanges). Start with a 14-day Free Trial. Prior to his position as CEO of Citigroups Asia Institutional Clients Group, Robert served as the Head of Global Investment Banking for Citigroup, based in New York.Robert is a 1977 graduate of Yale College, Phi Beta Kappa and magna cum laude, and a 1981 graduate of the Harvard Business School and the Harvard Law School.Robert serves on a variety of charitable organization boards, including as Chairman of the Yale Presidents Council on International Activities, the Grand Teton National Park Foundation Resource Council and the Whitney Museum Directors Council. Participants are asked to dial in a few minutes prior to the call to register for the event. . On average, Bridge Investment executives and independent directors trade stock every 0 days with the average trade being worth of $43,659. Our employees drive our success with the shared focus to build a better future for our investors, tenants, residents, and communities. 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. Acquisition of Newbury Partners View press release View presentation, In 2020, Bridge raised over $2 billion in capital and deployed nearly $3 billion in new assets across investment verticals. All Rights Reserved. Nothing in this press release constitutes an offer to sell or solicitation of an offer to buy any securities of the Company or any investment fund managed by the Company or its affiliates. Bridge ended 2020 with over $25 billion of AUM. Prosek Partners Kaitlin Newingham 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. delay times for all exchanges). Effective as of today, this team will be led by Chief Executive Officer (CEO), Mike Sodo; Co-Chief Investment Officer (Co-CIO), Matt Tucker; and Co-CIO, Brandon Flickinger. The firms financials show growing topline revenue and net income, though reduced cash flow from operations. On average, Bridge Investment executives and independent directors trade stock every 0 days with the average trade being worth of $43,659. 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. We achieved record closes for three of our specialized strategies with Debt Strategies IV at $2.9 billion, Multifamily V at $2.3 billion and Workforce & Affordable Housing II at $1.7 billion, highlighting the confidence investors place in our best-in-class investment teams. 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. 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. No existing shareholders have indicated an interest to purchase shares at the IPO price. The funds used to redeem some of the Class A Units held directly or indirectly by certain of the Original Equity Owners will not be available to us for use in connection with our future growth initiatives. To ensure this doesnt happen in the future, please enable Javascript and cookies in your browser. *Total 4,200 employees include employees of professional employer organizations at sites managed by Bridge Senior Living LLC. 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. Jeff Shaw, Chief Executive Office of Bridge Commercial Real Estate, commented, Our high performance in 2020 demonstrates the importance of investing in assets in the knowledge economy, and of our in-house leasing and tenant relations capabilities.
