Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 153

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 153
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 existing portfolio will improve in future periods as a result of anticipated future investments in and acquisitions
of residential properties and build-to-rent communities.

We believe we will be able
to meet our primary liquidity requirements going forward through, among other sources:

| · | $162.7                                                                                                                              
 million in cash available at September 30, 2025;                                                                                    |
| · | capacity                                                                                                                            
 of $50 million on the KeyBank Credit Facility, of which $28 million was available at September 30, 2025 for use in our DST Program; |
| · | proceeds                                                                                                                            
 from future mortgage debt financings for acquisition and/or development projects;                                                   |

<div align='center'>90</div>

| · | cash                                                                                                                          
 generated from operating activities; and                                                                                      |
| · | proceeds                                                                                                                      
 from the offering of our Series A Preferred Stock and potential offerings of common and preferred stock, as well as issuances 
 of units of limited partnership interest in our Operating Partnership (“OP Units”).                                           |

The following table summarizes
our contractual obligations as of September 30, 2025 related to our mortgage notes secured by our properties and revolving credit
facility. Our estimated future required payments on these obligations as of September 30, 2025 were as follows (amounts in thousands):

|                                          |     | Total |         |     | 2025 |       |     | 2026-2027 |         |     | 2028-2029 |         |     | Thereafter |         |
|:-----------------------------------------|:----|:------|--------:|:----|:-----|------:|:----|:----------|--------:|:----|:----------|--------:|:----|:-----------|--------:|
| Mortgages Payable (Principal)            |     | $     | 404,000 |     | $    |   459 |     | $         | 117,308 |     | $         |  86,153 |     | $          | 200,080 |
| Revolving Credit Facility                |     |       |  22,000 |     |      |     — |     |           |  22,000 |     |           |       — |     |            |       — |
| Estimated Interest Payments on Mortgages 
 Payable and Revolving Credit Facility    |     |       | 113,835 |     |      | 5,282 |     |           |