Bluerock Multifamily Growth REIT, Inc. announced that the Board of Directors appointed Gary T. Kachadurian, to serve as a Director of company and Chairman of the Investment Committee of Board, with such terms to commence effective upon the resignation of James G. Babb, III. Mr. Kachadurian will serve in such capacities, until his successor is elected and qualifies or until his earlier death, resignation or removal. Mr. Kachadurian agreed to be appointed to such positions at the discretion of Board in a separate agreement with Bluerock Real Estate, L.L.C., or Sponsor.

The appointment of Mr. Kachadurian as a Director of company and as the Chairman of the Investment Committee of the Board was not made pursuant to any other arrangement or understanding between him and any other person. The company also reported that James G. Babb, III provided notice to Board of his resignation as Chief Investment Officer as of such date and of his intent to resign as a Director in or about the first quarter of 2014 at an exact date to be agreed upon between Board and Mr. Babb. Mr. Babb's resignation from his position as Chief Investment Officer of company was effective as of November 26, 2013.

Mr. Babb will continue to serve as Chief Investment Officer of Advisor, and of Sponsor, which is an affiliate of company and which he joined in July 2007. The company reported that Jordan B. Ruddy resigned as President and Chief Operating Officer of Company, effective as of November 26, 2013. The Board appointed R. Ramin Kamfar, to serve as President of company, to serve in such capacity until his successor is elected and qualifies or until his earlier death, resignation or removal.

Mr. Kamfar currently serves as Chairman of the Board and Chief Executive Officer. Mr. Kamfar has served as Chairman of the Board since August 2008, and as Chief Executive Officer since November 2013, a position he previously held from July 2007 to February 2013. The Board appointed Michael L. Konig, company's Senior Vice President, Secretary and General Counsel, to serve as Chief Operating Officer of company, effective as of November 26, 2013, to serve in such capacity, until his successor is elected and qualifies or until his earlier death, resignation or removal.