Mr. Ruddy has served as a member of the Investment Committee and as President of Bluerock Fund Advisor, LLC since the inception of Bluerock Fund Advisor, LLC in 2012. He is also Director of Bluerock Asset Management, LLC since its inception in 2018. Mr. Ruddy brings approximately 30 years of institutional real estate investment experience working with some of leading public and private firms in the industry. Prior to BRRE, Mr. Ruddy served as a real estate investment banker at Bank of America Securities LLC, and at Smith Barney Inc. and at JP Morgan Chase (previously the Chase Manhattan Bank), and as Vice President of Amerimar Enterprises, a real estate company specializing in value-added investments nationwide. Mr. Ruddy received an M.B.A. degree in Finance and Real Estate in 1995 from The Wharton School of the University of Pennsylvania, and a B.S. degree with high honors in Economics in 1986 from the London School of Economics.

Mr. Lotterman is a co-founder of Bluerock Fund Advisors, LLC. He serves as the Lead Economist of Bluerock Fund Advisors, LLC., positions he has held since 2013, having previously held the roles of Associate Economist. r. Lotterman was an Adjunct Professor at Nova Southeastern University from 2010 to 2012, where he taught Real Estate Market Analysis in the Masters of Real Estate Development program. From 2011 to 2012, Mr. Lotterman was Vice President, New Business Development of Forman Capital, a private commercial real estate lender. Prior to that, Mr. Lotterman worked as Senior Valuation Analyst at Bayview Asset Management (former hedge fund affiliate of The Blackstone Group) from 2010 to 2011. From 2005 to 2010, Mr. Lotterman was the Senior Analyst for Goodkin Consulting (former real estate consulting arm of PricewaterhouseCoopers) for the majority of his tenure, where he developed extensive experience in real estate consulting, research and analysis on a national level. Mr. Lotterman received an M.S. in International Real Estate in 2006 from Florida International University, where he graduated first in class, and a B.S. Degree in microbiology with a minor in chemistry in 1997 from the University of Florida.

Co-Head of Liquid Real Assets / Chief Investment Officer of Liquid Real Assets John W. Vojticek has served as a Managing Director and Chief Investment Officer of Real Estate & Infrastructure Securities and Global Portfolio Manager for RREEF since July 2011 and was Co-Head of Americas Real Estate Securities from 2006 to July 2011. Mr. Vojticek was responsible for launching the firm's first listed infrastructure securities strategy in June 2008 and served as Head of the Listed Infrastructure Securities business from June 2008 until his appointment as Chief Information Officer in July 2011. Mr. Vojticek is an associate member of the National Association of Real Estate Investment Trusts. Mr. Vojticek holds a B.S. in Business Administration from the University of Southern California.

– Co-Head for Real Estate Securities, Americas and Co-Lead Portfolio Manager: Chicago, IL – Joined the Company in 1998 with 2 years of industry experience. Prior to his current role, David was a portfolio manager in the Real Estate Securities Group – BS in Finance from the University of Illinois at Urbana-Champaign

– Co-Head for Americas Real Estate Securities, Alternatives: Chicago, IL – Joined the Company in 2017 with 15 years of industry experience. Prior to joining, Bob served as lead portfolio manager of North America for global listed property funds at Henderson Global Investors. Before that, he was co-lead portfolio manager of North America for global listed property funds at AMP Capital. Previously, he served as an analyst at Nuveen Asset Management, at BNP Paribas Asset Management and at Security Capital Research & Management. Bob started his career as an investment banking analyst in the Real Estate group at KeyBanc Capital Markets – BA in Economics From Duke University; MBA in Finance, Management & Strategy from Kellogg School of Management, Northwestern University

Mr. Thran currently serves as Associate Portfolio Manager and Assistant Treasurer of the Fund. Mr. Thran joined Bluerock in 2017 and currently serves as a Vice President of the Advisor. Mr. Thran works directly with the Fund’s Senior Portfolio Managers and is responsible for overseeing day-to-day investment operations and execution of the Fund’s strategy, including portfolio valuation, investment analysis, liquidity management and performance evaluation. Previously, Mr. Thran served at JPMorgan Asset Management from 2014 to 2016, directing daily oversight and controls on over $200 billion in retail mutual fund assets. From 2008-2014, Mr. Thran held multiple management roles at State Street Corporation, with a focus on accounting and compliance on the company’s premier ETFs and mutual fund clients. Mr. Thran received an M.B.A. degree with a concentration in Investments from the D’Amore-McKim School of Business at Northeastern University and B.A. degrees in both Mathematics and Economics from the College of the Holy Cross.