Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 233

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 233
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 between BREH and the company of the costs thereunder, including
costs associated with tenant improvements. BREH and certain of its respective subsidiaries and/or affiliates will share occupancy of the
NY Premises. Under the Leasehold Cost-Sharing Agreement, if there is a change in control of either BREH or the company, the allocation
of costs under the Leasehold Cost-Sharing Agreement shall be modified to thereafter allocate such costs based on the average of the cost-sharing percentages
between BREH and the company over the four most recently-completed calendar quarters immediately preceding the change in control date
(or shall be the average cost-sharing percentages over such shorter period, if the change in control occurs earlier than the completion
of four calendar quarters). Under the NY Premises Lease, the company, through its Operating Partnership, issued a payment of approximately
$450,000 as a security deposit. Payment by BREH of any amounts payable under the Leasehold Cost-Sharing Agreement to the company will
be made in cash.

The table below presents the
related party amounts receivable from BREH at June 30, 2025 and December 31, 2024 pursuant to the terms of the Leasehold Cost-Sharing
Agreement (amounts in thousands). The Company records these receivables in due from affiliates in its consolidated balance sheets.

|                                             | Amounts receivable from BREH under the Leasehold Cost-Sharing Agreement |   | June 30, 
     2025 |     |   | December 31, 
         2024 |
|:--------------------------------------------|:------------------------------------------------------------------------|:--|---------:|:----|:--|-------------:|
| Capital improvement cost reimbursements     |                                                                         | $ |      670 |     | $ |          925 |
| Operating and direct expense reimbursements |                                                                         |   |      213 |     |   |          124 |
| Total amounts receivable from the Manager   |                                                                         | $ |      883 |     | $ |        1,049 |

At June 30, 2025 and
December 31, 2024, the company had no other receivables due from any related parties.

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DST Program

Acquisition Fees

The company, through consolidated
subsidiaries associated with its DST Program, incurs a one-time acquisition fee for each DST private placement offering. During the six
months ended June 30, 2025 and the year ended