Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 129

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 129
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 venture agreements with unaffiliated third parties to develop build-to-rent, single-family residential units. We made commitments to invest capital for preferred equity interests in the three joint ventures as follows: (i) $5.3 million for 82 units located in Bluffton, South Carolina known as Indigo Cove, (ii) $7.0 million for 170 units located in Brunswick, Georgia known as River Ford, and (iii) $14.6 million for 224 units located in Wildwood, Florida known as Canvas at Wildwood. Of our aggregate commitment to invest approximately $26.9 million in the three joint ventures, $9.3 million had been funded as of December 31, 2024.

In addition, we entered
into an agreement with an unaffiliated third party to provide capital in the maximum aggregate amount of $30.1 million, all of which
was funded during 2024, for 102 build-to-rent, single-family residential units in Charlotte, North Carolina known as Wayford at Pringle.
Our investment in Wayford at Pringle is comprised of the following: (i) a debt security investment in the aggregate amount of $7.8
million, and (ii) a loan investment in the aggregate amount of $22.3 million.

We held both a loan investment
(the “Woods Loan”) and a preferred equity investment with unaffiliated third parties in The Woods at Forest Hill. The Woods
Loan was fully paid off in the principal amount of $8.3 million, and our preferred equity investment in the principal amount of $5.6
million was fully redeemed. In addition, our remaining $1.7 million of preferred equity investment in Willow Park, which was redeemed
in 2023 and collateralized by The Woods at Forest Hill and other investments held by the operating partnership of Peak Housing REIT (the
“Peak REIT OP”), was received in full in 2024. Also, our remaining preferred equity investment in the Peak REIT OP, which
was collateralized by single-family residential units collectively known as Peak Housing, in the principal amount of $10.6 million was
fully redeemed.

Sale of Navigator Villas

Prior to the sale of the
property, and to effectuate a tax-deferred exchange under Section 1031 of the Code, we purchased our joint venture partner’s
interest in Navigator Villas for $2.9 million, inclusive of estimated post-close adjustments. On August 7