Company: BHM
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001104659-25-107769
Chunk: 10

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-06
Form: 424B3
Chunk 10
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 operations under both lease-up and stabilization and have not been adjusted.                            |
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| (c) | Represents property management and asset management fees estimated to have been                                                                  
 incurred for the Property. Property management fees shall be calculated at the greater of (i) 2.50% of monthly property revenues, and            
 (ii) $8,500 per month. The Company calculated the property management fees at 2.50% of monthly property revenues. Asset management fees          
 are calculated at 0.20% per annum of the $88.5 million purchase price, prorated for the six months ended June 30, 2025, which is due to          
 BR Skytop DST Manager, LLC for providing management and supervisory services in connection with the Property. BR Skytop 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 six months ended June 30, 2025 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 and a real estate tax abatement. The Company’s intangible assets are amortized using                
 the straight-line method, with in-place leases amortized over the remaining non-cancelable term of the respective leases, which is on            
 average six months, and the real estate tax abatement amortized over its remaining life of 159 months.                                           |
| (e) | Represents interest expense for the Property acquisition estimated to have been                                                                  
 incurred on the $57.5 million senior loan, which bears interest at a fixed rate of 4.98% and matures in October 2035. Interest expense           
 is calculated as if the senior loan was entered into on January 1, 2024. Interest expense also includes deferred financing costs which           
 are recognized at acquisition and amortized using the straight-line method over the remaining life of the senior loan. Interest expense          
 does not include any amounts related to borrowings through the KeyBank Credit Facility