Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 125

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 125
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 filing, registration and qualification, as necessary, of the sale of shares of our Series B Redeemable Preferred Stock under federal and state laws, including taxes and fees and accountants’ and attorneys’ fees. We do not expect such offering expenses to exceed 1.25% of gross offering proceeds, though the amount of such expenses may exceed the expected amount, as long as said expenses would not cause the cumulative selling commissions, placement fee and issuer organization and offering expenses paid by us to exceed 15.0% of gross offering proceeds. All organization and offering expenses, including selling commissions and the placement fee, are not expected to exceed 11.25% of the aggregate gross proceeds of this offering, though the amount of such expenses may exceed the expected amount. |

| (3) | Although the net proceeds are expected to be used in connection with the acquisition of residential properties and other real estate-related investments and the payment of fees and expenses related thereto, the proceeds are available for our other capital needs, whether related to the repayment of debt or otherwise. For purposes of this table, however, we have assumed that we will use all the net proceeds for acquisitions of real property and other real estate-related investments and the payment of related fees and expenses. Until required in connection with the acquisition of real property, other real estate-related investments or other capital needs, we intend to invest the net proceeds of this offering in interest-bearing, short-term investment-grade securities, money-market accounts or other investments that will not adversely affect our ability to maintain our qualification as a REIT. |

Assuming the maximum offering,
we estimate that we will receive net proceeds from the sale of shares of Series B Redeemable Preferred Stock in the offering of approximately
$310.63 million, after deducting estimated offering expenses, including selling commissions and the placement fee, payable by us of approximately
$39.38 million.

We will contribute the net proceeds of this offering
to our operating partnership in exchange for Series B Redeemable Preferred Units (as defined herein).

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We intend to use the net
proceeds of this offering for future acquisitions, investments in properties, and other general corporate and working capital purposes,
which may include the funding of capital improvements at our properties.

We intend to use prudent
amounts of leverage in connection with our operations. As of March 31, 2025, our total mortgage indebtedness was approximately $258.9
million, and we had $85.0 million outstanding