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

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 25
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| · | Conclude whether, in our judgment, there are conditions or                                                                      
 events, considered in the aggregate, that raise substantial doubt about the Fund’s ability to continue as a going concern for a 
 reasonable period of time.                                                                                                      |

We are required to communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit, significant audit findings, and certain internal control-related matters that we identified during the audit.

/s/ Deloitte & Touche LLP

Houston, Texas

April 25, 2025

| MARBLE                                              
 CAPITAL INCOME AND IMPACT FUND, LP AND SUBSIDIARIES |

| Consolidated                        
 Statement of Assets and Liabilities |

| December 31, 2024                                     |     |   |             |
|:------------------------------------------------------|:----|:--|------------:|
| ASSETS                                                |     |   |             |
| Investments in private operating                      
 companies, at fair value (cost $109,568,391)          |     | $ | 113,261,454 |
| Investment in affiliated private investment company,  
 at fair value (cost $40,407,720)                      |     |   |  41,864,340 |
| Cash and cash equivalents                             |     |   |   5,233,740 |
| Other assets                                          |     |   |     612,979 |
| Distributions receivable from investments in          
 private operating companies                           |     |   |   1,446,344 |
| Distribution receivable from investment in affiliated 
 private investment company                            |     |   |     834,011 |
| Dividends receivable                                  |     |   |       8,162 |
| Total Assets                                          |     | $ | 163,261,030 |
| LIABILITIES AND PARTNERS' CAPITAL                     |     |   |             |
| LIABILITIES                                           |     |   |             |
| Due to related party                                  |     | $ |     292,289 |
| Distributions payable                                 |     |   |   2,125,325 |
| Capital contributions received in advance             |     |   |   2,758,227 |
| Management fee payable                                |     |   |      13,085 |
| Accrued expenses                                      |     |   |     108,957 |
| Total Liabilities                                     |     |   |   5,297,883 |
|