Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 185

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 185
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 useful life. The Company considers the period of future benefit of an asset to determine its appropriate useful life and anticipates the estimated useful lives of assets by class to be generally as follows:

| ​                     | ​ | ​             |
| Buildings             |   | 30 – 40 years |
| Building improvements | ​ | 5 – 15 years  |
| Land improvements     | ​ | 5 – 15 years  |
| Furniture, fixtures   
 and equipment         | ​ | 3 – 8 years   |
| In-place leases       | ​ | 6 months      |

Intangible Assets Intangible assets include the value of in-place leases which represents the estimated fair value of the net cash flows of leases in place at the time of acquisition, as compared to the net cash flows that would have occurred had the property been vacant at the time of acquisition and subject to lease-up. The Company amortizes the value of in-place leases to expense over the remaining non-cancelable term of the respective leases, which is on average six months. The following table summarizes the Company’s in-place lease intangible assets at December 31, 2024 and 2023 (amounts in thousands):

| ​              | ​ 
 ​ | ​ |      ​ 
   2024 | ​ | ​ |      ​ 
   2023 |
|:---------------|:--|:--|-------:|:--|:--|-------:|
| Gross          
 carrying value | ​ | $ |  9,757 | ​ | $ |  5,208 |
| Accumulated    
 amortization   |   | ​ | -7,008 |   | ​ | -5,208 |
| Net            
 carrying value | ​ | $ |  2,749 | ​ | $ |      — |

The following table summarizes the Company’s in-place lease activity for the year ended December 31, 2024 (amounts in thousands):

| ​                          
 ​                          
 Beginning                  
 balance, January 1, 2024   | ​ 
 ​ | ​               
 In-place Leases |      ​ 
      — |
|:---------------------------|:--|:----------------|-------:|
| Acquisitions               |   | ​               |  5,309 |
| Amortization               |   | ​               | -2,560 |
| Ending                     
 balance, December 31, 2024 | ​ | $               |  2,749 |

The Company did not acquire any in-place leases