Bluerock Private Real Estate Fund

The Board solicits proxies so that each shareholder has the opportunity to vote on the Proposals to be considered at the Annual Meeting. A proxy for voting your shares at the Annual Meeting is enclosed. The shares represented by each valid proxy received in time will be voted at the respective Meeting as specified. If no specification is made, the shares represented by a duly executed proxy will be voted “FOR” the Trustee Nominees in Proposal 1 and “FOR” Proposal 2, and at the discretion of the holders of the proxy on any other matter that may come before the Annual Meeting that the Fund did not have notice of a reasonable time prior to the mailing of this Proxy Statement. You may revoke a proxy at any time before it is exercised by (i) submitting a duly executed proxy bearing a later date, (ii) submitting a written notice to the Secretary of the Fund revoking the proxy, or (iii) attending and voting in person at the respective Meeting.