Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 132

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 132
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Held for Sale

At December 31, 2024, we classified an aggregate of 167 units as held for sale in our consolidated balance sheets, and for the year ended December 31, 2024, we recorded an impairment of $3.3 million related to held for sale units which is included in gain on sale and (impairment) of real estate investments, net in our consolidated statements of operations and comprehensive income. The 167 units classified as held for saleare all reported in our scattered single-family homes segment and are included in the following portfolios:
8 units of ILE, 37 units of Indy-Springfield, 32 units of Peak JV 2, and all 90 units of Peak JV 3. These units were identified based
on submarket analysis and individual unit-level operational review. Real estate assets classified as held for sale are reported at the
lower of their carrying value or estimated fair value less costs to sell and are presented separately within operating real estate held
for sale, net on our consolidated balance sheets.

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Series A Redeemable Preferred Stock

During the year ended December 31,
2024, we issued 4,198,566 shares of 6.0% Series A Redeemable Preferred Stock (the “Series A Preferred Stock”) at
$25.00 per share (the “Stated Value”) under a continuous registered offering with net proceeds of approximately $92.9 million
after (i) commissions, dealer manager fees and sales discounts of approximately $10.6 million, and (ii) costs related to establishing
the offering of Series A Preferred Stock of approximately $1.5 million. As of December 31, 2024, we had issued a total of 4,635,241
shares of Series A Preferred Stock with total net proceeds of approximately $101.1 million after commissions, dealer manager fees,
sales discounts and offering costs. During the year ended December 31, 2024, we, at the request of holders, redeemed 6,560 shares
of Series A Preferred Stock through the issuance of 9,103 shares of Class A common stock.

In November 2023, we
announced the payment of additional contingent special daily dividends with respect to our Series A Preferred Stock. This dividend
was aggregated with the regular monthly dividend so as to effect a dividend rate of two percent over the average 10-Year Daily Treasury
Par Yield Curve Rate with a floor