Company: BHM
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001104659-25-077615
Chunk: 107

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 107
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2025 | ​ | June 25, 2025 | ​ | July 3, 2025   | ​ | ​            | 0.125000 | ​ | ​            |   225 |
| ​                            | ​ | ​              | ​ | ​             | ​ | ​              | ​ | ​            |        ​ | ​ | ​            |     ​ |
| Series A Preferred Stock (1) | ​ | July 15, 2025  | ​ | July 25, 2025 | ​ | August 5, 2025 | ​ |              | 0.135417 | ​ |              |   791 |
| Total                        | ​ | ​              | ​ | ​             | ​ | ​              | ​ |              |        ​ | ​ | $            | 3,216 |

| (1) | Series A                                                                                                                                    
 Preferred Stock distribution per share amounts include the standard dividend at an annual rate of 6.0% of the Stated Value and any enhanced 
 special dividends.                                                                                                                          |

Acquisition of Additional Interests in Investments On July 11, 2025, the Company purchased the noncontrolling partner’s interest in Peak JV 2 and Peak JV 3 for $0.2 million and $0.9 million, respectively. The Company increased its interest in (i) Peak JV 2 from 80% to 100% and (ii) Peak JV 3 from 56% to 100%. Sale of The Cottages of Port St. Lucie Interests On July 24, 2025, The Cottages of Port St. Lucie, the underlying asset of a joint venture in which the Company had a preferred equity interest located in Port St. Lucie, Florida, was sold. Upon the sale, the Company’s preferred equity investment was fully redeemed by the joint venture in the aggregate amount of $30.0 million, which included the Company’s principal investment of $18.8 million, and accrued preferred return and outstanding amounts of $11.2 million.

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Table of Contents

Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations The following discussion and analysis should be read in conjunction with the accompanying financial statements of Bluerock Homes Trust, Inc., and the notes thereto. As used herein, the terms “the Company”, “we”, “our”, and “us” refer to Bluerock Homes Trust, Inc., a Maryland corporation formed on December