Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 206

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 206
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, the Operating Partnership retains a fair market value purchase option giving it the right, but not the obligation, to acquire the interests in the Delaware statutory trust from the investors in exchange for OP Units or cash commencing two years after full syndication. As the Company is the primary beneficiary of the DST Property for the financial reporting purposes, the Company consolidates the DST Property and operations in its financial statements. Under the master lease, a wholly-owned indirect subsidiary of the Operating Partnership is responsible for subleasing the property to tenants, paying certain underlying costs associated with operating the property, and remitting rent to the DST that owns such property. As of December 31, 2024, the Company had one offering in its DST Program and had raised $4.5 million in offering proceeds of the $66.0 million total offering, with total net real estate investments associated with the DST Program of $103.4 million. Note 9 — Revolving Credit Facilities The outstanding balances on the revolving credit facilities as of December 31, 2024 and 2023 are as follows (amounts in thousands):

| ​                                     | ​                           
 Revolving Credit Facilities | ​ |       ​ 
    2024 | ​ | ​ |      ​ 
   2023 |
|:--------------------------------------|:----------------------------|:--|--------:|:--|:--|-------:|
| Amended DB Credit Facility            | ​                           | $ |  85,000 | ​ | $ | 50,000 |
| KeyBank Credit Facility               | ​                           | ​ |  36,000 | ​ | ​ |      — |
| Amended ILE Sunflower Credit Facility | ​                           | ​ |       — | ​ | ​ | 20,000 |
| Total                                 | ​                           | $ | 121,000 | ​ | $ | 70,000 |

F-24

Table of Contents

Amended
Deutsche Bank Credit Facility (“Amended DB Credit Facility”)

On
December 29, 2023, certain of the Company’s subsidiaries entered into an amended and restated credit facility (the “Amended
DB Credit Facility”) with Deutsche Bank Securities Inc. (“Deutsche Bank”), as sole lead arranger, Deutsche Bank AG,
New York Branch, as administrative agent, the financial institutions party thereto as lenders and Computershare Trust Company, N.A., as
paying agent and calculation agent, and the Company as a guarantor. The Amended DB Credit Facility provides for