Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 139

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 139
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      |       — |   |
| Interest income                                                               |     |      |  (5,424 | ) |     |      |  (2,609 | ) |
| Preferred stock dividends                                                     |     |      |   4,022 |   |     |      |     130 |   |
| Preferred stock accretion                                                     |     |      |     244 |   |     |      |       — |   |
| Other income, net                                                             |     |      |    (330 | ) |     |      |    (679 | ) |
| Income from preferred equity investments                                      |     |      | (11,937 | ) |     |      | (11,632 | ) |
| Interest income from loan investments                                         |     |      |  (1,630 | ) |     |      |     (94 | ) |
| (Gain) on sale and impairment of real estate investments, net                 |     |      |  (7,081 | ) |     |      |   1,017 |   |
| Total property income                                                         |     |      |  11,988 |   |     |      |  14,441 |   |
| Add back: Interest expense                                                    |     |      |  12,452 |   |     |      |   7,394 |   |
| Net operating income                                                          |     | $    |  24,440 |   |     | $    |  21,835 |   |

Liquidity and Capital Resources

Liquidity is a measure of
our ability to meet potential cash requirements, both short- and long-term. Our primary short-term liquidity requirements historically
have related to (i) our operating expenses and other general business needs, (ii) investments in real estate, (iii) distributions
to stockholders, (iv) committed investments and capital requirements to fund development and renovations at existing properties,
(v) ongoing commitments to repay borrowings, including our revolving credit facilities and our maturing debt, and (vi) Class A
common stock repurchases under our stock repurchase plan.

Our ability to access capital
on favorable terms as well as to use cash from operations to continue to meet our short-term liquidity needs could be affected by various
risks and uncertainties, including the risks detailed in Part I, Item 1A titled “Risk Factors” of our Annual Report on Form 10-K for the year ended December 31, 2024 as