Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 154

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 154
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41,218 |     |           |  27,866 |     |            |  39,469 |
| Total                                    |     | $     | 539,835 |     | $    | 5,741 |     | $         | 180,526 |     | $         | 114,019 |     | $          | 239,549 |

Estimated interest payments
are based on the stated rates for mortgage notes payable assuming the interest rate in effect for the most recent quarter remains in
effect through the respective maturity dates.

At September 30,
2025, we had contractual commitments to fund future cash obligations in certain of our preferred equity investments in the aggregate
of $23.2 million. In addition, we have two consolidated residential communities (Abode Wendell Falls and Harmony at Clear Creek) under
construction comprised of an aggregate of 358 units. As of September 30, 2025, we estimate that the remaining costs associated with
the completion of construction for these two residential communities will be approximately $121.4 million. We intend to finance these
costs through a combination of available cash, proceeds from construction loans, and preferred equity capital contributions.

As equity capital market
conditions permit, we may supplement our capital for short-term liquidity needs with proceeds of potential offerings of our common and
preferred stock, as well as the issuance of OP Units. Given the significant volatility in the trading price of REIT equities and our
otherwise stable financial condition and liquidity position, we cannot provide assurances that these offerings are a likely source of
capital to meet short-term liquidity needs.

On February 13, 2024,
our board of directors (the “Board”) authorized a stock repurchase plan for the repurchase of up to an aggregate of $5 million
of our outstanding shares of Class A common stock. The repurchase plan had a term of one year and ended in February 2025. We
made no repurchases of our Class A common stock under the plan.

On February 28, 2025,
our Board authorized a new stock repurchase plan for the repurchase, from time to time, of up to an aggregate of $5 million of our
outstanding shares of Class A common stock, with such repurchases to be conducted in accordance with the requirements of Rule 10b-18
of the Exchange Act and subject to Rule 10b-5 of the Exchange Act. The repurchase plan has a term of one year and may be discontinued