Company: BHM
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001104659-25-077615
Chunk: 125

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 125
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 on sale) and impairment of real estate investments, net                   | ​ |            ​ |   -858 | ​ |    ​ |    707 | ​ |            ​ |  -1,561 | ​ |    ​ |    534 |
| Gain                                                                      
 on sale of available-for-sale investments                                 | ​ |            ​ | -1,450 | ​ |    ​ |      — | ​ |            ​ |  -1,450 | ​ |    ​ |      — |
| Total                                                                     
 property income                                                           | ​ |              |  4,007 | ​ |      |  3,181 | ​ |            ​ |   7,590 | ​ |    ​ |  6,388 |
| Add                                                                       
 back: Interest expense                                                    | ​ |              |  4,523 | ​ |      |  2,803 | ​ |            ​ |   9,198 | ​ |    ​ |  5,349 |
| Net                                                                       
 operating income                                                          | ​ |            $ |  8,530 | ​ |    $ |  5,984 | ​ |            $ |  16,788 | ​ |    $ | 11,737 |

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) investment in real estate, (iii) distributions to stockholders, (iv) committed investments and capital requirements to fund development and renovations at existing properties, and (v) ongoing commitments to repay borrowings, including our maturing debt and the KeyBank Credit Facility. 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 filed with the SEC on March 20, 2025. While consolidated occupancy excluding units classified as held for sale and down/renovation units remains strong at 93.2% as of June 30, 2025, in future periods we may experience reduced levels of tenant retention, and reduced foot traffic and lease applications from prospective tenants.

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In addition,