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BRIDGE INVESTMENT ANNOUNCES FOURTH QUARTER AND FULL YEAR 2021 RESULTS – Form 8-K







BRIDGE INVESTMENT GROUP HOLDINGS INC. ANNOUNCES FOURTH QUARTER AND FULL YEAR 2021 RESULTS

SALT LAKE CITY, UTAH-Bridge Investment Group Holdings Inc. (NYSE: BRDG) (“Bridge” or the “Company”) today released financial results for its fourth quarter and fiscal year ended December 31, 2021.

Fourth quarter 2021

TotalIncome and investment income were $107.3 million and $148.3 million, respectively, for the quarter ended December 31, 2021. These results increased 50% and 87%, respectively, from the quarter ended December 31, 2021. December 31, 2020.

Net revenue applicable to Bridge Investment Group Holdings LLC (the “Operating Company”) was $165.8 million for the three months ended December 31, 2021, compared to $92.5 million for the three months ended December 31, 2020. Basic and diluted net income attributable to Bridge per Class A common share was $0.52 for the three months ended December 31, 2021.

distributable profit of the operating company were $38.7 million for the three months ended December 31, 2021, compared to $34.5 million on a pro forma basis for the three months ended December 31, 2020.

Full year 2021

Total revenue and investment income were $330.0 million and $334.2 million, respectively, for the year ended December 31, 2021, an increase of 42% and 219%, respectively, over the year ended December 31, 2021. December 31, 2020.

Net revenue applicable to the operating company was $408.6 million for the year ended December 31, 2021, compared to $166.5 million for the year ended December 31, 2020. On a basic and diluted basis, earnings net attributable to Bridge per Class A common share was $0.93 for the period from July 16, 2021 to December 31, 2021.

distributable profit of the Operating Company on a pro forma basis were $134.6 million for the year ended December 31, 2021, compared to $85.8 million on a pro forma basis for the year ended December 31, 2020.

Robert Morse, Executive Chairman of Bridge, said, “Bridge produced another record quarter to end a historic year for our company. Raising and deploying record capital generated our best revenue quarter and largest quarter of investment income, outpacing last quarter by nearly 87%. As a result, Bridge reported distributable income of $134.6 million or $0.89 per share, an increase of 51% over the prior year period. Bridge ended 2021 with $36.3 billion in gross assets under management and $2.7 billion in dry powder. strategies and new verticals, such as logistics and net leasing, position Bridge very well for growth in 2022 and beyond. In addition, Bridge made progress in driving incremental growth in January with our majority investment in the Gorelick Brothers recapitalization single-family rental investment platform and portfolio, which exhibits significant revenue and operating synergies with our leading multi-family investment strategies. outlook in 2022 based on our strong fundraising and investment pipelines, new strategic opportunities like single-family leasing, and a year-end balance of unrealized performance fees totaling $439.5 million.”

Jonathan Slager, Chairman and CEO of Bridge, added, “Bridge delivered value to investors and fund shareholders in 2021 through our differentiated approach to commercial real estate investing. Our dedicated investment teams and vertical integration have enabled Bridge to efficiently raise and deploy substantial capital into our managed companies. During the fourth quarter and full year 2021, Bridge deployed record capital of $2.1 billion and $4.6 billion, respectively, which in turn will drive our fee-based revenue growth. such as residential and logistics positions our fundraising and deployment for continued success in the years to come.”

common dividend

Bridge declared a quarterly dividend of $0.21 per Class A common share, payable March 25, 2022 to its Class A common stockholders of record at the close of business March 11, 2022.

Further information

Bridge Investment Group Holdings Inc. has released a detailed presentation of its fourth quarter and full year 2021 results, which can be viewed at www.bridgeig.com in the Investors section of our homepage. The presentation is titled “Fourth Quarter 2021 Results Presentation”.

Conference Call and Webcast Information

The Company will host a conference call on March 3, 2022 at 8:30 a.m. ET to discuss its fourth quarter and full year 2021 results. Interested parties can access the live conference call by telephone by dialing 1-877- 405-1210 (toll-free) or 1-201-689-8721 (toll-free/international) and requesting the fourth quarter and full year 2021 earnings conference call. Attendees are asked to dial a few minutes before the call to register for the event. The event will also be available live via an accessible webcast here or from our Investor Relations website https://ir.bridgeig.com.

An audio replay of the conference call will be available approximately three hours after the conference call until 11:59 p.m. ET on March 17, 2022 and can be accessed by dialing 1-877-660-6853 (domestic) or 1-201-612 . -7415 (international) and providing the password 13726335.

About Bridge Investment Group Holdings Inc.

Bridge is a leading vertically integrated real estate investment manager, diversified across specialty asset classes, with approximately $36.3 billion in assets under management as of December 31, 2021. Bridge combines its operating platform nationwide with dedicated teams of investment professionals focused on select U.S. real estate. real estate verticals: residential leasing, offices, development, logistics real estate, net lease and mortgage backed by real estate.

Forward-looking statements

This press 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. All statements other than statements of historical fact may be forward-looking statements. In some cases, you can identify forward-looking statements by words such as “outlook”, “could”, “believe”, “expect”, “potential”, “opportunity”, “continue”, “may”, “will”, “should”, “over time”, “seek”, “predict”, “intend”, “plan”, “estimate”, “anticipate”, “expect” or negative versions of these words, other comparable words or other statements that do not relate to historical or factual matters. Accordingly, we caution you that these forward-looking statements are based on our beliefs, assumptions and expectations as of the date 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 may differ likely to be those expressed or implied in forward-looking statements 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 speaks only as of the date on which it is made. Bridge Investment Group Holdings Inc. undertakes no obligation to publicly update any forward-looking statements made herein or on the webcast/conference call, whether as a result of new information, future developments or otherwise, unless the law requires it.

Nothing in this press release constitutes an offer to sell or the solicitation of an offer to buy securities of the Company or any investment fund managed by the Company or its affiliates.

Contact with Investor Relations:

Bonni Rosen

Bridge Investment Group Holdings Inc.

[email protected]

Media:

charlotte morse

Bridge Investment Group Holdings Inc.

(877) 866-4540

Warning

Bridge Investment Group Holdings Inc. published this content on March 02, 2022 and is solely responsible for the information contained therein. Distributed by Public, unedited and unmodified, on March 02, 2022 21:44:04 UTC.

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BRIDGE INVESTMENT GROUP HOLDINGS INC. Analyst Recommendations

Sales 2021 310 million

Net income 2021 98.7 million

Net debt 2021 125 million

PER 2021 ratio 23.9x
2021 performance 2.53%
Capitalization 576M
576M
EV / Sales 2021 2.26x
EV / Sales 2022 1.86x
# of employees 1,650
Floating 20.4%

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