Company: BHM
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001104659-25-077615
Chunk: 95

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 95
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 its consolidated balance sheets.

| ​                                           | ​                                               
 Amounts receivable from                         
 BREH under the Leasehold Cost-Sharing Agreement | ​ |             ​ 
 June 30, 2025 | ​ | ​ |                 ​ 
 December 31, 2024 |
|:--------------------------------------------|:------------------------------------------------|:--|--------------:|:--|:--|------------------:|
| Capital improvement cost reimbursements     | ​                                               | $ |           670 | ​ | $ |               925 |
| Operating and direct expense reimbursements |                                                 | ​ |           213 |   | ​ |               124 |
| Total amounts receivable from BREH          | ​                                               | $ |           883 | ​ | $ |             1,049 |

At June 30, 2025 and December 31, 2024, the Company had no other receivables due from any related parties. DST Program Acquisition Fees The Company, through consolidated subsidiaries associated with its DST Program, incurs a one-time acquisition fee for each DST private placement offering. During the six months ended June 30, 2025 and the year ended December 31, 2024, the Company incurred one-time acquisition fees of $1.4 million and $2.1 million, respectively. Refer to Note 9 for further information on the Company’s DST Program.

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Table of Contents

Asset Management Fees The Company engaged a related party as the DST asset manager to provide certain management services and oversee the performance of the property manager. The Company has agreed to pay an asset management fee equal to a stated percentage per annum of the purchase price of each property in the DST Program. During the three and six months ended June 30, 2025, the Company incurred asset management fees related to the DST Program of $0.07 million and $0.1 million, respectively, which are recorded within property management and asset management fees on the Company’s consolidated statements of operations and comprehensive income. As the Company held no DST properties at June 30, 2024, it did not record any asset management fees related to the DST Program during the corresponding periods ended June 30, 2024. The table below presents amounts payable to related parties at June 30, 2025 and December 31, 2024 (amounts in thousands) related to the Company’s DST Program. The Company records these payables in due to affiliates in its consolidated balance sheets.

| ​                                              | ​                          
 Amounts