Company: BHM
Filing Date: 2025-01-16
Form Type: 8-K/A
Source: 0001104659-25-004088
Chunk: 9

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-01-16
Form: 8-K/A
Chunk 9
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 |     |        |    984,489 |
| 2026                    |     |        |  1,023,590 |
| 2027                    |     |        |  1,064,243 |
| 2028                    |     |        |  1,100,778 |
| Thereafter              |     |        | 50,898,179 |
| Total                   |     | $      | 55,389,000 |

The Amira at Westly LP loans require interest
only payments until September 2024, at which time principal and interest are payable monthly in the amount of $259,594 until the loan’s
maturity. Additionally, the loans require monthly payments of $107,627 to restricted cash for future real estate replacements and real
estate tax obligations of the properties.

| 4. | Commitments and Contingencies |

The Company, as an owner of real estate, is subject
to various federal, state and local environmental laws. Compliance by the Company with existing laws has not had a material effect on
the Company. However, the Company cannot predict the impact of new or changed laws or regulations on its current properties or on properties
it may acquire in the future.

The Company is subject to various legal proceedings
and claims which arise in the ordinary course of business. Matters which arise out of allegations of bodily injury, property damage, and
employment practices are generally covered by insurance. While the resolution of these legal proceedings and claims cannot be predicted
with certainty, management believes the final outcome of such matters will not have a material adverse effect on our consolidated financial
statements.

| 5. | Related Party Transactions |

The Company’s wholly owned subsidiary entered
into a Property Management Agreement (“PM Agreement”) with American Landmark Management (“ALM”), an affiliate
of the Electra Partner, to provide certain property management and construction management services. As compensation for these services,
the Company pays ALM property management fees which are based on a percentage of revenue collected and construction management fees which
are based on a percentage of construction costs, as defined in the PM Agreement. For the year ended December 31, 2023, the Company incurred
property management fees of $310,481. For the year ended December 31, 2023, the Company incurred construction management fees of $50,131,
which are capitalized on the consolidated balance sheet. Management fees payable at December 31, 2023 were $26,032, and were included