Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 18

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 18
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 Amira at Westly on October 31, 2024 as if these assets had been acquired on January       
 1, 2023. Pro forma adjustments to the Company’s historical results for the nine months ended September 30, 2024 include adjustments               
 to the following: property management and asset management fees, depreciation and amortization, interest expense, and the operating partnership   
 units’ interest.                                                                                                                                  
 Amounts shown for rental and other property revenues                                                                                              
 and property operating expenses reflect the property’s actual results of operations (historical operations) and have not been adjusted.           |
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| (c) | Represents property management and                                                                                                                
 asset management fees estimated to have been incurred for Amira at Westly. Property management fees shall be calculated at the greater            
 of (i) 2.25% of monthly property revenues, or (ii) $17,000 per month, plus the potential for a monthly incentive fee subject to established       
 operational targets. The Company calculated the property management fees at 2.25% of monthly property revenues and did not include any            
 incentive fees as no historical operational targets were available. Asset management fees are calculated at 0.20% per annum of the $103.0         
 million purchase price, prorated for the nine months ended September 30, 2024, which is due to BR Amira DST Manager, LLC for providing            
 management and supervisory services in connection with Amira at Westly. BR Amira DST Manager, LLC is a related party of the Company, but          
 it is not within the Company’s control and is not consolidated in the Company’s financial statements.                                             |
| (d) | Represents depreciation and amortization                                                                                                          
 expense adjustment to historical results for the nine months ended September 30, 2024 based on the allocation of the purchase price. Depreciation 
 expense is calculated using the straight-line method over the asset’s estimated useful life as follows: 30-40 years for the building,             
 5-15 years for building and land improvements, and 3-8 years for furniture, fixtures and equipment. Amortization expense relates to the           
 Company’s identifiable intangible assets and consists of the value of in-place leases. In-place leases are amortized using the straight-line      
 method over the remaining non-cancelable term of the respective leases, which is on average six months.                                           |
| (e) | Represents interest expense for                                                                                                                   
 the Amira at