Company: BHM
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001104659-25-077615
Chunk: 105

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 105
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 is included within accounts receivable, prepaids and other assets, net, and the lease liability is included within other accrued liabilities. In determining the right-of-use asset and lease liability, the discount rate implicit in the Lease was not readily determinable. As such, the Company used a third-party analysis to determine that a discount rate of 7.61% approximated the incremental borrowing rate that it would incur for a loan that was of a similar term as the Lease and with a similar form of underlying collateral. At June 30, 2025, the remaining right-of-use asset and lease liability balances were $4.7 million and $5.2 million, respectively, and the remaining Lease term was approximately 6.1 years. In addition, the Company incurred tenant improvement costs related to the renovation and buildout of the NY Premises which are capitalized and included within net real estate investments of the Company’s consolidated balance sheets. Such tenant improvement costs are depreciated on a straight-line basis over the term of the Lease. The following table summarizes the future minimum lease payments and total operating lease liability as of June 30, 2025 (amounts in thousands):

| ​                                      
 Year                                   | ​ | ​     
 Total |      ​ |
|:---------------------------------------|:--|:------|-------:|
| 2025 (July 1 – December 31)            | ​ | $     |    446 |
| 2026                                   | ​ |       |  1,070 |
| 2027                                   | ​ |       |  1,070 |
| 2028                                   | ​ |       |  1,070 |
| 2029                                   | ​ |       |  1,070 |
| Thereafter                             | ​ |       |  1,773 |
| Total future minimum lease payments    
 (undiscounted cash flows)              | ​ | $     |  6,499 |
| Difference between future undiscounted 
 cash flows and discounted cash flows   | ​ |       | -1,338 |
| Total operating lease liability        | ​ | $     |  5,161 |

Note 17 – Segment Information The Company owns and operates residential real estate assets that generate rental and other property-related income through the leasing of residential units to a diverse base of tenants. The Company evaluates operating performance on an individual property investment level and based on the investments’ similar economic characteristics. The Company’s Chief Operating Decision Makers (“CODMs”) are