Company: BHM
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001104659-25-077615
Chunk: 60

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 60
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 the Fund is reflected on the Consolidated Statement of Operations. There were no
excess organization costs incurred during the three months ended March 31, 2025 and 2024.

3. Fair value measurements

The following tables presents the classification
of the Fund’s fair value measurements for the respective periods as shown below:

| March 31, 2025                             |     | Level 1 |   |     | Level 2 |   |     | Level 3 |             |     | Total |             |
|:-------------------------------------------|:----|:--------|:--|:----|:--------|:--|:----|:--------|------------:|:----|:------|------------:|
| Assets (at                                 
 fair value)                                |     |         |   |     |         |   |     |         |             |     |       |             |
| Investments in private operating companies |     |         |   |     |         |   |     |         |             |     |       |             |
| Real Estate, Common Member                 |     | $       | - |     | $       | - |     | $       | 120,307,682 |     | $     | 120,307,682 |
| Real Estate, Preferred Member              |     |         | - |     |         | - |     |         |  13,723,576 |     |       |  13,723,576 |
| Total Investments, at fair value           |     | $       | - |     | $       | - |     | $       | 134,031,258 |     | $     | 134,031,258 |

| December 31, 2024                          |     | Level 1 |   |     | Level 2 |   |     | Level 3 |            |     | Total |            |
|:-------------------------------------------|:----|:--------|:--|:----|:--------|:--|:----|:--------|-----------:|:----|:------|-----------:|
| Assets (at                                 
 fair value)                                |     |         |   |     |         |   |     |         |            |     |       |            |
| Investments                                |     |         |   |     |         |   |     |         |            |     |       |            |
| Investments in private operating companies |     |         |   |     |         |