Company: BHM
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001104659-25-107769
Chunk: 32

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-06
Form: 424B3
Chunk 32
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| (1) | ILE’s                                                                                                                                      
 fixed rate debt represents the aggregate debt outstanding across three separate credit agreements. Of the outstanding balance, one credit  
 agreement (“CA1”) has a balance of $3.4 million at a fixed rate of 3.50%, the second credit agreement (“CA2”)                              
 has a balance of $15.8 million at a fixed rate of 3.75%, and the third credit agreement (“CA3”) has a balance of $4.4 million              
 at a fixed rate of 6.00%. CA1 and CA3 each bear interest at a floating rate that is subject to an interest rate swap to effectuate a fixed 
 rate; refer to Note 13 for further information. CA1 and CA2 both mature in 2026; CA3 matures in 2028. The ILE credit agreements contain    
 certain financial and operating covenants, including minimum liquidity and minimum debt service coverage.                                  |

| (2) | The loan                                             
 requires monthly payments of principal and interest. |

| (3) | The principal                                                                                                                       
 balance includes a $9.5 million senior loan at a fixed rate of 4.81% and a $4.3 million supplemental loan at a fixed rate of 4.96%. |

| (4) | The Deutsche                                                                                                                           
 Bank loan (“DB Loan”) bears interest at one-month Term SOFR plus 2.95%. In September 2025, the one-month Term SOFR in effect           
 was 4.28%. The Term SOFR rate is subject to a 2.50% rate cap through April 2026; refer to Note 13 for further information. The DB Loan 
 contains certain financial and operating covenants, including maximum leverage, minimum debt yield and minimum debt service coverage.  |

| (5) | Represents                                                                                                                        
 a construction loan with a maximum commitment of $46.5 million. At September 30, 2025, a negligible amount was drawn on the loan. |

| (6) | The ILE loan                                                                                                                            
 bears interest at one-month Term SOFR plus 2.85%, subject to a 6.50% rate floor, and contains a minimum debt service coverage covenant. |

| (7) | The Wayford                                                                                                                           
 at Concord loan bears interest at the 30-day average SOFR plus 2.23%. In September 2025, the 30