Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 146

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 146
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emable Preferred Stock, (v) cash requirements related to our Series A Redeemable Preferred Stock Safeguard
Policy, and (vi) Class A common stock repurchases under our stock repurchase plan.

We intend to finance our
long-term liquidity requirements with net proceeds of additional issuances of common and preferred stock, including issuances in connection
with the continuous registered offering of our Series A Redeemable Preferred Stock, our revolving credit facility, as well as future
acquisition or project-based borrowings. Our success in meeting these requirements will therefore depend upon our ability to access capital.
Further, our ability to access equity capital is dependent upon, among other things, general market conditions for REITs and the capital
markets generally, market perceptions about us and our asset class, and current trading prices of our securities.

As we did in the three months
ended March 31, 2025, we may also selectively sell consolidated operating assets at appropriate times, which would be expected to
generate cash sources for both our short-term and long-term liquidity needs.

We may also meet our long-term
liquidity needs through borrowings from a number of sources, either at the corporate or project level. We believe our revolving credit
facility will serve as our primary debt source that will continue to enable us to deploy our capital more efficiently and provide capital
structure flexibility as we grow our asset base. In addition to restrictive covenants, our revolving credit facility contains material
financial covenants. At March 31, 2025, we were in compliance with all covenants under our credit facility. We will continue to monitor
the debt markets, including Fannie Mae and Freddie Mac, and as market conditions permit, access borrowings that are advantageous to us.

If we are unable to obtain
financing on favorable terms or at all, we would likely need to curtail our investment activities, including acquisitions and improvements
to and developments of real properties, which could limit our growth prospects. This, in turn, could reduce cash available for distribution
to our stockholders and may hinder our ability to raise capital by issuing more securities or borrowing more money. We also may be forced
to dispose of assets at inopportune times to maintain REIT qualification and Investment Company Act exemption.

We expect to maintain a distribution
on our Series A Redeemable Preferred Stock in accordance with the terms which require monthly dividends. While our distributions
through March 31, 2025 have been paid from cash flow from operations and