Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 145

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 145
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 A Preferred Stock;                                    |
| · | proceeds of $71.0 million                                                         
 from borrowings on revolving credit facilities; and                               |
| · | capital contributions of                                                          
 $5.9 million from partially owned properties’ noncontrolling interests; offset by |
| · | $22.3 million of repayments                                                       
 of our mortgages payable;                                                         |
| · | $20.0 million of repayments                                                       
 on revolving credit facilities;                                                   |
| · | $8.5 million of distributions                                                     
 to noncontrolling interests;                                                      |
| · | $6.3 million in deferred                                                          
 financing costs;                                                                  |
| · | $3.9 million of distributions                                                     
 to common stockholders;                                                           |
| · | $3.5 million in cash distributions                                                
 paid to preferred stockholders;                                                   |
| · | $2.9 million for purchase                                                         
 of interests from noncontrolling interests; and                                   |
| · | $0.1 million in cash distributions                                                
 paid to partially owned properties’ noncontrolling interests.                     |

Year ended December 31, 2024 as compared to the year ended December 31, 2023

Operating Activities

Net cash flow provided by operating activities decreased $4.8 million
in 2024 compared to 2023 primarily due to:

| · | decrease                                                                                     
 in net distributions of income and income from preferred equity investments of $3.1 million; |

| · | operating                                                       
 income, adjusted for non-cash activity, decreased $3.0 million; |

| · | decrease                                           
 in amounts due to affiliates, net of $1.9 million; |

| · | decrease                                                                       
 in accounts receivable, prepaid expenses and other assets of $1.5 million; and |

| · | increase                                                            
 in notes and accrued interest receivable of $0.2 million; offset by |

| · | increase                                                           
 in accounts payable and other accrued liabilities of $1.9 million. |

Investing Activities

Net cash used in investing activities increased $199.2 million in
2024 compared to 2023 primarily due to:

| · | net                                                                                            
 increase in acquisition of real estate investments and capital expenditures of $237.1 million; |

| · | lower                                                                     
 proceeds from redemption of preferred equity investments of $9.6 million; |

| · | increase                                               
 in investment in notes receivable of $4.6 million; and |

| · | increase                                                    
 in