{"url_path":"/sec/bpre/8-k/2026-07-02/item-1-01","section_key":"item-1-01","section_title":"Item 1.01 Entry into a Material Definitive Agreement.**","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-07-02","source_url":"https://www.sec.gov/Archives/edgar/data/1551047/0001398344-26-011663-index.html","accession_number":"0001398344-26-011663","cik":"0001551047","ticker":"BPRE","issuer_name":"Bluerock Private Real Estate Fund","edgar_url":"https://www.sec.gov/Archives/edgar/data/1551047/0001398344-26-011663-index.html","primary_entity_key":"0001551047","primary_entity_name":"Bluerock Private Real Estate Fund"},"word_count":485,"has_tables":true,"body_markdown":"**Item 1.01 Entry into a Material Definitive Agreement.**\n\n** **\n\nOn July 1, 2026, Bluerock Private Real Estate Fund (the “Fund”)\nentered into an Administrative Services Agreement (the “ASA”) with Bluerock Fund Advisor, LLC (the “Adviser”),\nthe Fund’s investment adviser. Currently, the Fund's investments in Institutional Investment Funds bear significant expenses at\nthe underlying fund level (“Underlying Fund Expenses”), which reduce the net returns of those investments to the Fund. As\nassets are redeemed from the Institutional Investment Funds and rotated into direct real estate investments, these Underlying Fund Expenses\nare eliminated to the benefit of shareholders, but additional services are required to be undertaken on behalf of the Fund, including\nJoint Venture Administration, Property Operations, Property-Level Debt Administration, Subsidiary and Entity Governance, Legal/Compliance\nServices, REIT Qualification Monitoring, and Accounting and Tax Services for the Fund’s direct real estate investments.\n\n \n\nThe ASA engages the Adviser to provide such services, along with\nother services such as NYSE Listing Compliance, Proxy and Annual Meeting Process, Exchange Act Reporting and Regulation FD Compliance,\nand other additional services to the extent agreed upon by the parties, all of which are distinct from and in addition to those provided\nby the Adviser pursuant to the existing investment management agreement between the Fund and the Adviser.. In consideration for such services,\ncommencing July 1, 2026, the Fund agreed to pay the Adviser an Administrative and Accounting Services Fee (the “ASA Fee”)\nat an annual rate of 0.20% of the Fund’s average managed assets, calculated and paid monthly. For this purpose, “managed assets”\nmeans the Fund’s net assets plus the principal amount of any outstanding borrowings plus the liquidation preference of any outstanding\npreferred stock. Given the ASA Fee is at a significantly lower rate than the Underlying Fund Expense levels, and to ensure that the significant\nnet savings flow to the investors, the Adviser has elected to voluntarily waive a portion of the ASA Fee in an amount equal to the ASA\nFee which would otherwise be payable with respect to managed assets represented by the Fund’s investments in Institutional Investment\nFunds. Based on the Fund’s investments as of July 1, 2026, this would result in a waiver of approximately 53% of the ASA Fee owed\nto the Adviser. The ASA continues in effect until terminated and may be terminated at any time upon 60 days’ written notice, without\npayment of any penalty, by a vote of a majority of the independent members of the Board of Trustees, by a vote of a majority of the outstanding\nvoting securities of the Fund, or by the Adviser. Any amendment to the ASA requires approval by the Board of Trustees, including a majority\nof the independent members of the Board of Trustees.\n\n \n\nThe ASA is filed as Exhibit 10.1 hereto and incorporated herein\nby reference. The foregoing description does not purport to be complete and is qualified in its entirety by reference to such exhibit."}