Company: BHM
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001104659-25-107769
Chunk: 54

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-06
Form: 424B3
Chunk 54
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 single-family homes. The CODMs do not distinguish or group operations on
a geographic, tenant or other basis when assessing the financial performance of the Company’s portfolio of properties/investments.

Residential communities segment includes the acquisition, ownership, management, renovation, construction, and development of residential communities,
which include both detached single-family home communities and attached unit communities such as apartments, townhouses, and duplexes.
Each residential community is, generally, located on a single, contiguous land parcel and has amenities including clubhouses, gyms, pools
and common areas. In addition, these residential communities typically have onsite property management.

Scattered single-family homes segment includes the acquisition, ownership, management, and renovation of scattered single-family homes, which
are, generally, detached homes with no onsite property management.

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Table of Contents

The following table summarizes NOI by the Company’s reportable segments for the three and nine months ended September 30, 2025 and 2024, and reconciles NOI to net (loss) income attributable to common stockholders on the Company’s statements of operations and comprehensive income. Prior year amounts have been reclassified to conform to the current period segment presentation (amounts in thousands):

| ​                                                         
 ​                                                         
 ​                                                         
 Rental and other property                                 
 revenues                                                  | ​ 
 ​ | ​                          
 Three                      
 Months Ended September 30, 
 2025                       
 ​                          |      ​ | ​ | ​    
 2024 
 ​    |      ​ | ​ 
 ​ 
 ​ | ​                          
 Nine                       
 Months Ended September 30, 
 2025                       
 ​                          |       ​ 
       ​ | ​ 
 ​ 
 ​ | ​    
 2024 
 ​    |       ​ 
       ​ |
|:----------------------------------------------------------|:--|:---------------------------|-------:|:--|:-----|-------:|:--|:---------------------------|--------:|:--|:-----|--------:|
| Residential communities                                   | ​ | $                          |  9,082 | ​ | $    |  3,946 | ​ | $                          |  26,106 | ​ | $    |  10,335 |
| Scattered single-family homes                             | ​ |                            |  7,528 | ​ |      |  8,030 | ​ | ​                          |  23,121 | ​ | ​    |  24,335 |
| Total rental and other                                    
 property revenues