Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 29

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 29
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     758 |   |     |           | 327,302 |   |
| Total Equity                                                                                           |     |                | 469,479 |   |     |             |     758 |   |     |           | 470,237 |   |
| TOTAL LIABILITIES AND EQUITY                                                                           |     | $              | 800,829 |   |     | $           |  54,784 |   |     | $         | 855,613 |   |

<div align='center'>See Notes to Unaudited Pro Forma Condensed Consolidated
Balance Sheet

BLUEROCK HOMES TRUST, INC.

NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED BALANCE SHEET

AS OF SEPTEMBER 30, 2024</div>

| (a) | Historical consolidated financial information derived from the Company’s                                                                       
 Quarterly Report on Form 10-Q as of September 30, 2024.                                                                                        |
|:----|:-----------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | The acquisition of 98.05% ownership interest in Allure at Southpark for a purchase                                                             
 price of $92.0 million, which the Company consolidated on its balance sheet. The Company recorded a $55.2 million senior loan associated       
 with the acquisition of Allure at Southpark. The carrying value of the senior loan includes approximately ($1.2) million of deferred financing 
 costs related to the acquisition.                                                                                                              |

<div align='center'>BLUEROCK HOMES TRUST, INC.

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

FOR THE NINE MONTHS ENDED SEPTEMBER 30, 2024

(In thousands, except share and per share amounts)</div>

| Revenues                                                    |     | Bluerock Homes 
 Trust, Inc.    
 Historical     
 (a)            |           |   |     | Pro Forma   
 Adjustments 
 Allure at   
 Southpark   
 (b)         |        |      |     | Pro Forma 
 Total     |           |   |
|:------------------------------------------------------------|:----|:---------------|----------:|:--|:----|:------------|-------:|:-----|:----|:----------|----------:|:--|
| Rental and other property revenues                          |     | $              |    34,670 |   |     | $           |  5