Company: BHM
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001104659-25-046667
Chunk: 39

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 39
---
 Units

We
closed on the following sales: seven units in the ILE portfolio, four units in the Indy-Springfield portfolio, ten units in the Peak JV
2 portfolio, and eighteen units in the Peak JV 3 portfolio, pursuant to the terms and conditions of multiple separate purchase and sale
agreements. The thirty-nine units were sold for an aggregate of approximately $6.9 million, subject to certain closing costs, prorations
and adjustments typical in such real estate transactions. After deducting the paydown of existing mortgage indebtedness encumbering six
units in the ILE portfolio of $1.2 million, the sales of the thirty-nine units generated net proceeds of approximately $5.1 million and
a gain on sales of approximately $0.8 million.

Loan Investment Activity

Our
loan investment in Wayford at Pringle was paid off in full in the aggregate amount of $23.0 million, which included principal investment
of $22.3 million and accrued interest of $0.7 million.

Preferred Equity Investment Summary

Our preferred
equity investment activity was as follows: (i) we increased our original capital commitment for preferred equity interests in Wayford
at Innovation Park by $2.0 million, increasing our total investment to $15.4 million, and (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