Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 143

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 143
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 at Innovation
Park by $2.0 million, increasing our total investment to $15.4 million, (ii) we entered into a joint venture agreement with an unaffiliated
third party, and made a commitment to invest $16.2 million for preferred equity interests, to develop an approximately 300 unit residential
community located in Sanford, North Carolina known as Sanford Marketplace, and (iii) had our preferred equity investment in two joint ventures with unaffiliated third parties fully redeemed as follows: (a) The Cottages at Myrtle Beach redeemed in the aggregate amount of $28.1 million, which included our principal investment of $17.9 million, and accrued preferred return and outstanding amounts of $10.2 million, and (b) The Cottages of Port St. Lucie redeemed in the aggregate amount of $30.0 million, which included our principal investment of $18.8 million, and accrued preferred return and outstanding amounts of $11.2 million..

In addition, we sold our
preferred equity interests in Indigo Cove and Wayford at Pringle to a joint venture, with such joint venture including an affiliate of
Bluerock Homes Manager, LLC (our “Manager”), in the aggregate amounts of $4.2 million and $9.2 million, respectively, which
included our outstanding principal investments and accrued preferred returns, net of any reimbursements.

As of September 30,
2025, we had funded $14.6 million of our $37.8 million aggregate commitment to fund capital for preferred equity interests in Canvas
at Wildwood, River Ford, and Sanford Marketplace.

Held for Sale

At September 30,
2025 and December 31, 2024, we classified an aggregate of 84 units and 167 units, respectively, as held for sale on our consolidated
balance sheets. For the three and nine months ended September 30, 2025 and 2024, we
recorded an impairment of $0.4 million and $0.9 million, and $0.6 million and $2.1 million, respectively, related to held for sale units
which is included in (impairment) and gain on sale of real estate investments, net on our consolidated statements of operations and comprehensive
income. The 84 units classified as held for sale at September 30, 2025 are all reported
in our scattered single-family homes segment and are included in the following portfolios: 4 units of Golden Pacific