Company: BHM
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001104659-25-107769
Chunk: 12

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-06
Form: 424B3
Chunk 12
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| (a) 
 (b) | Historical consolidated financial information derived from the Company’s                                                                       
 Annual Report on Form 10-K for the year ended December 31, 2024.                                                                               
 Represents adjustments to the Company’s                                                                                                        
 historical operations to give effect to the purchase of the Property on September 29, 2025 as if the Property had been acquired on January     
 1, 2024. The Company considers a property stabilized upon attainment of 90.0% physical occupancy. As the Property did not achieve 90.0%        
 occupancy as of December 31, 2024, adjustments were made using the Property’s historical operations under lease-up. Pro forma adjustments      
 to the Company’s historical results for the year ended December 31, 2024 include adjustments to the following: property management             
 and asset management fees, depreciation and amortization, interest expense, and the operating partnership units’ interest.                     
 The property’s actual results of operations                                                                                                    
 (historical operations for the year ended December 31, 2024) for rental and other property revenues and property operating expenses reflect    
 the Property’s actual results of operations under lease-up 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, 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 year ended December 31, 2024 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. Am