Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 232

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 232
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 | December 31, 
         2024 |
|:--------------------------------------------|:------------------------------------------------------------------------|:--|----------:|:----|:--|-------------:|
| Capital improvement cost reimbursements     |                                                                         | $ |       938 |     | $ |          925 |
| Operating and direct expense reimbursements |                                                                         |   |       318 |     |   |          124 |
| Total amounts receivable from the Manager   |                                                                         | $ |     1,256 |     | $ |        1,049 |

At March 31, 2025 and
December 31, 2024, the company had no other receivables due from any related parties.

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BR Amira DST Manager, LLC - Amira at Westly DST

The company has agreed to
pay an asset management fee equal to 0.02% per annum of the Amira at Westly purchase price of $103 million, or $206,000 annually,
to BR Amira DST Manager, LLC, which is wholly owned by Bluerock Asset Management, LLC. During the three months ended March 31 2025,
the company incurred a total asset management fee related to Amira at Westly of $51,500 which is recorded within property management
and asset management fees on the company’s consolidated statements of operations and comprehensive income. The company did not
incur any asset management fees related to Amira at Westly in the first quarter 2024. In addition, the company, through consolidated
subsidiaries associated with the DST Program, incurred a one-time acquisition fee of $2.1 million payable to BR Amira DST Manager,
LLC for the Amira at Westly private placement offering.

The table below presents
the related party amounts payable to BR Amira DST Manager, LLC at March 31, 2025 and December 31, 2024 (amounts in thousands).
The company records these payables in due to affiliates in its consolidated balance sheets.

|                                                    | Amounts payable to BR Amira DST Manager, LLC |   | March 31, 
      2025 |     |   | December 31, 
         2024 |
|:---------------------------------------------------|:---------------------------------------------|:--|----------:|:----|:--|-------------:|
| One-time acquisition fee                           |                                              | $ |     2,060 |     | $ |        2,060 |