Company: BHM
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001104659-25-046667
Chunk: 14

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 14
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 without premium or penalty. The interest rate on outstanding borrowings
was 7.12% at March 31, 2025. The Amended DB Credit Facility contained certain financial and operating covenants, including maximum leverage
ratio, minimum debt yield and minimum debt service coverage ratio. At March 31, 2025, the Amended DB Credit Facility was drawn at $85
million and the Company was in compliance with all covenants under the Amended DB Credit Facility. The Amended DB Credit Facility matured
in April 2025. On April 4, 2025, the Company entered into an amended and restated agreement with Deutsche Bank that replaced the Amended
DB Credit Facility with a senior loan (refer to Note 16 for further information).

KeyBank Credit Facility

On October 25,
2024, the Company, through a subsidiary of its Operating Partnership, entered into a credit agreement with KeyBank National Association
(the “KeyBank Credit Facility”) related to the Company’s DST Program. The KeyBank Credit Facility provides for a revolving
loan with a maximum commitment amount of $50 million. The Company has provided a guarantee on any outstanding balance and up to the full
commitment and has pledged interests in certain assets as collateral. Borrowings under the KeyBank Credit Facility bear interest per annum,
at the Company’s option, at SOFR (Daily Simple or Term) plus 3.60% or the base rate plus 2.50% (base rate determined by reference
to the greatest of (i) the prime rate, (ii) the federal funds effective rate plus 0.50%, and (iii) Adjusted Term SOFR for a one-month
interest period plus 1.00%), and borrowings can be prepaid without premium or penalty. The Company pays a fee on the unused portion of
the KeyBank Credit Facility at an annual rate of 0.30%. The KeyBank Credit Facility matures on October 25, 2026; however, borrowings under
the KeyBank Credit Facility mature one-year from the date of funding, subject to certain minimum paydowns, and timing of such paydowns,
pursuant to the terms of the KeyBank Credit Facility. The KeyBank Credit Facility contains certain financial and operating covenants,
including maximum leverage ratio, minimum debt service coverage ratio and minimum tangible net worth. At March 31, 2025, the KeyBank Credit
Facility was fully paid down with no outstanding balance