Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 147

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 147
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 obligations as of June 30, 2025 related to our mortgage notes secured by our properties. At June 30, 2025, the
KeyBank Credit Facility had no outstanding balance. Our estimated future required payments on these obligations as of June 30, 2025
were as follows (amounts in thousands):

|                                                  |     | Total |         |     | 2025 |       |     | 2026-2027 |         |     | 2028-2029 |         |     | Thereafter |         |
|:-------------------------------------------------|:----|:------|--------:|:----|:-----|------:|:----|:----------|--------:|:----|:----------|--------:|:----|:-----------|--------:|
| Mortgages Payable (Principal)                    |     | $     | 347,337 |     | $    |   965 |     | $         | 117,665 |     | $         |  86,152 |     | $          | 142,555 |
| Estimated Interest Payments on Mortgages Payable |     |       |  88,415 |     |      | 9,033 |     |           |  34,833 |     |           |  22,030 |     |            |  22,519 |
| Total                                            |     | $     | 435,752 |     | $    | 9,998 |     | $         | 152,498 |     | $         | 108,182 |     | $          | 165,074 |

Estimated interest payments
are based on the stated rates for mortgage notes payable assuming the interest rate in effect for the most recent quarter remains in effect
through the respective maturity dates.

At June 30, 2025, we
had contractual commitments to fund future cash obligations in certain of our preferred equity investments in the aggregate of $26.2 million.
In addition, we made a commitment to fund the total estimated project costs of $56.9 million for the development of Abode Wendell Falls,
a 170-unit build-to-rent development project in Wendell, North Carolina. At June 30, 2025, the remaining estimated project costs
to complete Abode Wendell Falls was $45.3 million.

As equity capital market
conditions permit, we may supplement our capital for short-term liquidity needs with proceeds of potential offerings of our common and
preferred