Company: BHM
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001104659-25-077615
Chunk: 83

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 83
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 thousands). The Company held no investments in unconsolidated real estate funds at December 31, 2024.

| ​                                      
 ​                                      
 Investment                             
 Name                                   | ​ 
 ​ |                        ​ 
 Weighted Average Company 
 Ownership Percentage (1) | ​ 
 ​ | ​        
 June 30, 
 2025     |      ​ |
|:---------------------------------------|:--|-------------------------:|:--|:---------|-------:|
| Marble Capital Income and Impact Fund, 
 LP (2)                                 |   |                     11.7 | % | $        | 25,000 |
| Total                                  |   |                          | ​ | $        | 25,000 |

| (1) | Weighted                                          
 average ownership percentage as of June 30, 2025. |

| (2) | The                                                                                                                                   
 Company accounts for its investment in the Marble Capital Income and Impact Fund, LP under the equity method as the Company considers 
 its degree of influence to be more than minor.                                                                                        |

17

Table of Contents

Summary combined financial information for the Company’s investment in the unconsolidated real estate fund at March 31, 2025, and for the three months ended March 31, 2025, is summarized below (amounts in thousands):

| ​                               
 ​                               
 Balance                         
 Sheet                           | ​ 
 ​ | ​         
 March 31, 
 2025      |       ​ |
|:--------------------------------|:--|:----------|--------:|
| Investments                     | ​ | $         | 180,148 |
| Cash and cash equivalents       | ​ |           |   3,033 |
| Receivables and other assets    | ​ | ​         |   3,057 |
| Total assets                    | ​ | $         | 186,238 |
| ​                               | ​ | ​         |       ​ |
| Liabilities                     | ​ | $         |   2,675 |
| Partners’ capital               | ​ |           | 183,563 |
| Total liabilities and partners’ 
 capital                         | ​ | $         | 186,238 |

| ​                                          
 ​                                          
 Operating                                  
 Statement                                  | ​ 
 ​ | ​                  
 Three Months Ended 
 March 31, 2025     |     ​ |
|:-------------------------------------------|:--|:-------------------|------:|
| Investment income                          | ​ | $                  | 2,546 |
| Expenses                                   | ​ |