Company: BHM
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001104659-25-107769
Chunk: 75

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-06
Form: 424B3
Chunk 75
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ases (subject to limited deferral rights) or satisfy its other obligations under the Master Leases. As compensation for the Operating Partnership’s obligations under the Master Leases, we will share in the rent paid by the tenants of the underlying properties in accordance with the waterfall set forth in the applicable Master Lease. As of September 30, 2025, we had three DST Properties (Amira at Westly, Skytop Apartments and Southern Pines Reserve) in our DST Program and had raised net offering proceeds of $75.5 million, issued demand notes of $1.8 million, and had $243.9 million in total net real estate investments associated with the DST Program. The Amira at Westly DST had been fully subscribed with equity from individual investors as of September 30, 2025. In conjunction with sponsoring of the DST Program, our Operating Partnership is granted an option to acquire DST interests from the DST Program’s beneficial owners at a later date for an aggregate value equal to such beneficial owner’s pro rata share of the appraised value of the properties, as determined by an independent appraisal firm, less any indebtedness encumbering such beneficial owner’s DST interest or the beneficial owner’s pro rata share of any indebtedness encumbering the properties, which will be assumed or paid off by our Operating Partnership. In general, we believe our available cash balances, cash flows from operations, proceeds from the offering of our Series A Preferred Stock, proceeds from the KeyBank Credit Facility (as hereinafter defined, the “revolving credit facility”), proceeds from our DST Program, proceeds from future mortgage debt financings for acquisitions and/or development projects, and other financing arrangements will be sufficient to fund our liquidity requirements with respect to our existing portfolio for the next 12 months. In general, we expect that our results related to our existing portfolio will improve in future periods as a result of anticipated future investments in and acquisitions of residential properties and build-to-rent communities. We believe we will be able to meet our primary liquidity requirements going forward through, among other sources:

| ● | $162.7                                           
 million in cash available at September 30, 2025; |

| ● | capacity                                                                                                                            
 of $50 million on the KeyBank Credit Facility, of which $28 million was available at September 30, 2025 for use in our DST Program; |

| ● | proceeds                                                                          
 from future mortgage debt financings for acquisition and/or development projects; |

| ● | cash                                     
 generated from