Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 7

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 7
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 to investments in                                           
 real estate                                                           |     |      | (1,663,749 | ) |
| Net cash used in investing                                            
 activities                                                            |     |      | (1,663,749 | ) |
| Cash flows from financing activities:                                 |     |      |            |   |
| Distributions                                                         |     |      | (3,911,859 | ) |
| Net cash used in financing                                            
 activities                                                            |     |      | (3,911,859 | ) |
| Net decrease in cash and restricted cash                              |     |      | (1,324,204 | ) |
| Cash and restricted cash, Beginning of period                         |     |      |  5,590,346 |   |
| Cash                                                                  |     | $    |  4,055,707 |   |
| Restricted cash                                                       |     |      |    210,435 |   |
| Cash and restricted cash, End of period                               |     | $    |  4,266,142 |   |
| Supplemental disclosure of cash flow information                      |     |      |            |   |
| Cash paid for interest during                                         
 the period                                                            |     | $    |  2,160,782 |   |
| Additions to investments                                              
 in real estate financed with accounts payable and accrued expenses    |     | $    |      9,178 |   |

<div align='center'>See notes to consolidated financial statements.

Amira JV LP and Subsidiary

(A Limited Partnership)

Notes to the Consolidated Financial Statements

December 31, 2023</div>

| 1. | Organization and Description of Business |

Amira JV LP the (“Company”) was formed
on May 14, 2019, as a Delaware limited partnership, owned by Electra Multifamily Investments Fund II, L.P., a Delaware limited partnership
(“Electra Partner”), Fundrise Equity REIT, LLC, (“Investor Partner I”), Fundrise East Coast Opportunistic REIT,
LLC, (“Investor Partner II”), Fundrise Growth eREIT II , LLC, (“Investor Partner III”), Fundrise Growth eREIT
III, LLC, (“Investor Partner IV”) collectively the “Partners”. The Company was formed primarily to acquire, renovate,
finance, own, manage, repair and otherwise manage its wholly owned subsidiary of the Company, directly or through its subsidiary, and
any other property owned by the Company