Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 207

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 207
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 a revolving loan with
a maximum commitment amount of $150 million. Borrowings under the Amended DB Credit Facility are limited to financings related to the
acquisition, renovation, rehabilitation, maintenance and leasing of single-family residential units in the Indy-Springfield, Peak JV 2
and Savannah-84 portfolios. Borrowings under the Amended DB Credit Facility bear interest on the amount drawn at Term Secured Overnight
Financing Rate (“SOFR”) plus 2.80%, and borrowings can be prepaid without premium or penalty. The interest rate on outstanding
borrowings was 7.35% at December 31, 2024. The Amended DB Credit Facility matures on April 6, 2025 and contains a one-year extension option,
which the Company intends to exercise, subject to certain conditions and the payment of an extension fee. The Amended DB Credit Facility
contains certain financial and operating covenants, including maximum leverage ratio, minimum debt yield and minimum debt service coverage
ratio. At December 31, 2024, the Amended DB Credit Facility was drawn at $85 million and the Company was in compliance with all covenants
under the Amended DB Credit Facility. The availability of borrowings under the Amended DB Credit Facility at December 31, 2024 was approximately
$13 million and is based on the collateral and compliance with various ratios related to those assets.

Amended ILE Sunflower Credit Facility

In
2023, the Company, along with its unaffiliated joint venture partner, ILE, entered into an amended and restated credit facility with Sunflower
Bank, N.A. (the “Amended ILE Sunflower Credit Facility”). The Amended ILE Sunflower Credit Facility provided for a revolving
loan with an initial commitment amount of $20 million, which commitment contained an accordion feature to a maximum total commitment of
up to $50 million. The Amended ILE Sunflower Credit Facility, along with three other separate non-revolving credit facilities (refer to
Note 10 for further information), was used in the financing of acquisitions of single-family residential units. Borrowings under the Amended
ILE Sunflower Credit Facility bore interest at Term SOFR plus 3.11%, subject to a rate floor, and could be prepaid without penalty or
premium. The Amended ILE Sunflower Credit Facility was to mature in December 2024 and contained certain financial and operating covenants,
including a minimum fixed charge coverage