Company: BHM
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001104659-25-077615
Chunk: 116

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 116
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 fees, sales discounts and offering costs. Additionally, as of June 30,
2025, we, at the request of holders, had redeemed a total of 10,960 shares of Series A Preferred Stock through the issuance of 18,653
shares of Class A common stock and redeemed a total of 8,008 shares of Series A Preferred Stock in cash.

Series A Preferred
Stock Redemption Safeguard Policy

On
February 6, 2025, we implemented a new Series A Preferred Stock Redemption Safeguard Policy (the “Policy”) with respect to
our Series A Preferred Stock. The Policy is applicable in the event of any redemption of shares of Series A Preferred Stock in shares
of our Class A common stock rather than in cash (each, a “Preferred Redemption in common stock”). The Policy provides that
if, within 10 business days of any such Preferred Redemption in common stock, any such shares of Class A common stock are sold at a loss
(i.e. a lower price than the Aggregate Redemption Value), the holder can apply to us for a cash payment to the holder in an amount equal
to the difference between (i) the Aggregate Redemption Value of the Class A common stock so issued, and (ii) the Aggregate Sale Price
at which such shares of Class A common stock were sold, subject to certain conditions and requirements as set forth in the Policy. The
Policy applies both retroactively, and on a go-forward basis, to holders of our Series A Preferred Stock.

Stockholders’
Equity

Our
total stockholders’ equity decreased $3.8 million from $139.1 million as of December 31, 2024 to $135.3 million as of June 30, 2025.
The decrease in our total stockholders’ equity is primarily attributable to dividends declared of $5.3 million and preferred stock
accretion of $1.8 million, partially offset by a net adjustment of $1.2 million for noncontrolling interests, net income of $1.0 million,
comprehensive income of $0.7 million, and $0.3 million from Class A common stock issuances.

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Table of Contents

Results of Operations The following is a summary of our consolidated real estate investments as of June 30, 2025:

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 Operating                               
 Investment Name                         
 Scattered                               
 Single-Family Homes                     | ​ 
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