Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 176

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 176
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 Jafarnia                              |
|                      | ​ | Director                              |
|                      | ​ |                                       |
| Date: March 20, 2025 | ​ | /s/ I. Bobby Majumder                 |
|                      | ​ | I.                                    
 Bobby Majumder                        |
|                      | ​ | Director                              |
|                      | ​ |                                       |
| Date: March 20, 2025 | ​ | /s/ Romano Tio                        |
|                      | ​ | Romano                                
 Tio                                   |
|                      | ​ | Director                              |

88

Table of Contents

INDEX TO CONSOLIDATED FINANCIAL STATEMENTS

|                                                                                                  | Page |
| Financial Statements                                                                             |      |
| Report                                                                                           
 of Independent Registered Public Accounting Firm (PCAOB ID Number 248)                           | F-2  |
| Consolidated                                                                                     
 Balance Sheets as of December 31, 2024 and 2023                                                  | F-3  |
| Consolidated                                                                                     
 Statements of Operations and Comprehensive Income for the Years Ended December 31, 2024 and 2023 | F-4  |
| Consolidated                                                                                     
 Statements of Stockholders’ Equity for the Years Ended December 31, 2024 and 2023                | F-5  |
| Consolidated                                                                                     
 Statements of Cash Flows for the Years Ended December 31, 2024 and 2023                          | F-6  |
| Notes to                                                                                         
 Consolidated Financial Statements                                                                | F-7  |

F-1

Table of Contents

Report of Independent Registered Public Accounting Firm

The Board of Directors and Shareholders

Bluerock Homes Trust, Inc.

Opinion on the Financial Statements

We have audited the
accompanying consolidated balance sheets of Bluerock Homes Trust, Inc. (a Maryland corporation) and subsidiaries (the “Company”)
as of December 31, 2024 and 2023, the related consolidated statements of operations and comprehensive income, changes in stockholders’
equity, and cash flows for each of the two years in the period ended December 31, 2024, and the related notes and financial statement
schedules included under Item 15(a) (collectively referred to as the “consolidated financial statements”). In our opinion,
the consolidated financial statements present fairly, in all material respects, the financial position of the Company as of December 31,
2024 and 2023, and the results of its