Company: BHM
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001104659-25-107769
Chunk: 80

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-06
Form: 424B3
Chunk 80
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 five joint ventures that are accounted for as available-for-sale debt securities. Cash Flows from Operating Activities As of September 30, 2025, we held twenty-two real estate investments, consisting of seventeen consolidated investments and five preferred equity investments, with the twenty-two investments representing an aggregate of 5,282 residential units. During the nine months ended September 30, 2025, net cash provided by operating activities was $28.3 million after net loss of $23.1 million was adjusted for the following:

| ● | distributions                                                            
 of income and income from preferred equity investments of $22.0 million; |

| ● | non-cash                
 items of $20.3 million; |

| ● | an                                                                          
 increase in accounts payable and other accrued liabilities of $8.2 million; |

| ● | an                                             
 increase in due to affiliates of $1.8 million; |

| ● | a                                                                      
 decrease in notes and accrued interest receivable of $0.5 million; and |

| ● | distributions                                                                    
 from investments in unconsolidated real estate funds of $0.3 million; offset by: |

| ● | an                                                                          
 increase in accounts receivable, prepaids and other assets of $1.7 million. |

Cash Flows from Investing Activities During the nine months ended September 30, 2025, net cash used in investing activities was $109.0 million, due to the following:

| ● | $155.7                                                      
 million used in the acquisition of real estate investments; |

| ● | $25.0                                                                
 million used in an investment in an unconsolidated real estate fund; |

| ● | $13.7                                 
 million used on capital expenditures; |

| ● | $11.1                                                            
 million used in investments in preferred equity investments; and |

| ● | $1.6                                                  
 million used in the purchase of rate caps; offset by: |

| ● | $49.6                                                                             
 million of proceeds from the sale and redemption of preferred equity investments; |

| ● | $31.7                                          
 million of repayments on notes receivable; and |

| ● | $16.8                                                          
 million of proceeds from the sales of real estate investments. |

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Cash Flows from Financing Activities During the nine months ended September 30, 2025, net cash provided by financing activities was $132.8 million, primarily due to the following:

| ● | borrow