Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 135

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 135
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ii) as of March 31, 2025, we had funded $11.8 million
of our $26.9 million aggregate commitment to fund capital for preferred equity interests in Canvas at Wildwood, Indigo Cove and River
Ford.

Held for Sale

At March 31, 2025, we
classified an aggregate of 138 units as held for sale in our consolidated balance sheets, and for the three months ended March 31,
2025, we recorded an impairment of $0.1 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 138 units classified as held for sale
are all reported in our scattered single-family homes segment and are included in the following portfolios: 11 units of ILE, 33 units
of Indy-Springfield, 22 units of Peak JV 2, and all 72 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 three months ended
March 31, 2025, we issued 651,768 shares of 6.0% Series A Redeemable Preferred Stock at $25.00 per share (the “Stated
Value”) under a continuous registered offering with net proceeds of approximately $14.1 million after (i) commissions, dealer
manager fees and sales discounts, and (ii) costs related to establishing the offering of Series A Redeemable Preferred Stock.
As of March 31, 2025, we had issued a total of 5,285,053 shares of Series A Redeemable Preferred Stock with total net proceeds
of approximately $115.2 million after commissions, dealer manager fees, sales discounts and offering costs. Additionally, as of March 31,
2025, we, at the request of holders, had redeemed 6,560 shares of Series A Redeemable Preferred Stock through the issuance of 9,103
shares of Class A common stock.

Series A Redeemable Preferred Stock Redemption Safeguard Policy

On February 6, 2025,
we implemented a new