Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 153

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 153
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 ​ |   |     244 | ​ |   |       — |
| Other income, net                             | ​ |   |    -330 | ​ |   |    -679 |
| Income from preferred equity investments      | ​ | ​ | -11,937 | ​ | ​ | -11,632 |
| Interest income from loan investments         | ​ | ​ |  -1,630 | ​ | ​ |     -94 |
| (Gain) on sale and impairment of real         
 estate investments, net                       | ​ |   |  -7,081 | ​ |   |   1,017 |
| Total property income                         | ​ | ​ |  11,988 | ​ | ​ |  14,441 |
| Add back: Interest expense                    | ​ |   |  12,452 | ​ |   |   7,394 |
| Net operating income                          | ​ | $ |  24,440 | ​ | $ |  21,835 |

Liquidity and Capital Resources Liquidity is a measure of our ability to meet potential cash requirements, both short- and long-term. Our primary short-term liquidity requirements historically have related to (i) our operating expenses and other general business needs, (ii) investments in real estate, (iii) distributions to stockholders, (iv) committed investments and capital requirements to fund development and renovations at existing properties, (v) ongoing commitments to repay borrowings, including our revolving credit facilities and our maturing debt, and (vi) Class A common stock repurchases under our stock repurchase plan.

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Our ability to access capital on favorable terms as well as to use cash from operations to continue to meet our short-term liquidity needs could be affected by various risks and uncertainties, including the risks detailed in Part I, Item 1A titled “Risk Factors”. While consolidated occupancy excluding units classified as held for sale and down/renovation units remains strong at 94.0% as of December 31, 2024, in future periods we may experience reduced levels of tenant retention, and reduced foot traffic and lease applications from prospective tenants. In addition, in October 2024, we launched a program to sponsor and raise capital through private placement offerings of Delaware statutory trusts (each, a “DST”) holding residential properties (collectively, the “DST Program”). We expect that the DST Program will give us the opportunity to expand and diversify our capital raise strategies by offering what we