Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 137

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 137
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 Units             |     |               |     |       170 |     |            |     |           |   |     |           |       |     |               |   |     |           |   |
| Total                         
 Units                         |     |               |     |     3,414 |     |            |     |           |   |     |           |       |     |               |   |     |           |   |

| (1) | Total operating units includes an aggregate of 138 units classified                                                                     
 as held for sale, with such units included in the following portfolios: 11 units of ILE, 33 units of Indy-Springfield, 22 units of Peak 
 JV 2, and all 72 units of Peak JV 3.                                                                                                    |

| (2) | Represents                                                                                                                              
 the average of the ending average effective rent per occupied unit as of the last day of each month in the three months ended March 31, 
 2025.                                                                                                                                   |

| (3) | Percent                                                                                                                
 occupied is calculated as (i) the number of units occupied as of  March31, 2025 divided by (ii) total number of units, 
 expressed as a percentage.                                                                                             |

| (4) | Percent                                                                                                                    
 occupied is calculated as (i) the number of units occupied as of March 31, 2025 divided by (ii) total number of units,     
 expressed as a percentage, and excludes 138 units classified as held for sale and an aggregate of 8 down/renovation units. |

| (5) | Abode                                                                                     
 Wendell Falls is a build-to-rent development project that commenced construction in 2024. |

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The following is a summary
of our consolidated operational results by reportable segment for the three months ended March 31, 2025 and 2024 ($ in thousands,
except average rental rates):

| Rental and other property revenues       |     | Three Months Ended March 31, 
 2025                         |        |   |     | 2024 |        |   |     | Variance |       |       |     |
|:-----------------------------------------|:----|:-----------------------------|-------:|:--|:----|:-----|-------:|:--|:----|:---------|------:|------:|:----|
| Scattered single-family homes            |     | $                            |  7,801 |