Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 217

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 217
---
 31, 2024 and 2023, the Company recorded operating expense reimbursements of $4.4 million and $2.8 million, respectively. Commencing with the operating expense reimbursement for the first quarter 2024, the Company paid, and expects to continue to pay, the operating expense reimbursement to the Manager entirely in cash; prior to the first quarter 2024, the Company paid the operating expense reimbursement to the Manager entirely through the issuance of C-LTIP Units. The operating expense reimbursement for the year ended December 31, 2024 included reimbursements to the Manager in the aggregate amount of $2.9 million for accounting and legal services. Prior to the fourth quarter 2023, the Manager elected to not seek reimbursements for accounting and legal services during the Company’s first year of operations. In addition, for the years ended December 31, 2024 and 2023, the Company recorded direct expense reimbursements of $0.4 million and $0.3 million, respectively, which were paid to the Manager in cash. Both the operating and direct expense reimbursements were recorded as part of general and administrative expenses in the Company’s consolidated statements of operations and comprehensive income. The table below presents the related party amounts payable to the Manager at December 31, 2024 and 2023 pursuant to the terms of the Management Agreement (amounts in thousands). The Company records these payables in due to affiliates in its consolidated balance sheets.

| ​                                           | ​                                                     
 Amounts                                               
 payable to the Manager under the Management Agreement | ​ |     ​ 
  2024 | ​ | ​ |     ​ 
  2023 |
|:--------------------------------------------|:------------------------------------------------------|:--|------:|:--|:--|------:|
| Base management fee                         | ​                                                     | $ | 2,490 | ​ | $ | 2,048 |
| Operating and direct expense reimbursements | ​                                                     |   | 1,224 | ​ |   | 1,365 |
| Offering expense reimbursements             | ​                                                     | ​ |   148 | ​ | ​ |    96 |
| Total amounts payable to the Manager        | ​                                                     | $ | 3,862 | ​ | $ | 3,509 |

Leasehold Cost-Sharing Agreement with Bluerock Real Estate Holdings, LLC In connection with a new lease on the Company’s New York (Manhattan) headquarters, effective May 31, 202