Company: BHM
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001104659-25-077615
Chunk: 119

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 119
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 last day of each month in the period presented for all units in our consolidated portfolio. |

| (2) | The amount                                                                  
 presented for 2024 includes Navigator Villas which was sold in August 2024. |

| (3) | Represents                                                                                                                   
 the average of the ending average effective rent per occupied unit as of the last day of each month in the period presented. |

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Table of Contents

The following is a summary of our preferred equity investments as of June 30, 2025:

| ​                         
 ​                         
 ​                         
 ​                         
 Lease-up                  
 Investment Name           | ​ 
 ​ 
 ​ 
 ​ | ​                  
 ​                  
 ​                  
 ​                  
 Location / Market  | ​ 
 ​ 
 ​ 
 ​ |               ​ 
               ​ 
          Actual 
               / 
         Planned 
 Number of Units | ​ 
 ​ 
 ​ 
 ​ | ​                  
 Total Actual       
 /                  
 Estimated          
 Construction       
 Cost (in millions) |    ​ | ​ 
 ​ 
 ​ 
 ​ | ​             
 ​             
 ​             
 Cost to Date  
 (in millions) |    ​ 
    ​ 
    ​ | ​ 
 ​ 
 ​ 
 ​ | ​            
 Actual       
 /            
 Estimated    
 Construction 
 Cost         
 Per Unit     |       ​ | ​ 
 ​ 
 ​ 
 ​ | ​         
 Actual    
 /         
 Estimated 
 Initial   
 Occupancy | ​ 
 ​ 
 ​ 
 ​ | ​            
 Actual       
 /            
 Estimated    
 Construction 
 Completion   | ​ 
 ​ 
 ​ 
 ​ |        ​ 
        ​ 
        ​ 
        ​ 
        % 
 Occupied | ​ 
 ​ 
 ​ 
 ​ | ​         
 ​         
 Estimated 
 Average   
 Rent (1)  |     ​ 
     ​ |
|:--------------------------|:--|:-------------------|:--|----------------:|:--|:-------------------|-----:|:--|:--------------|-----:|:--|:-------------|--------:|:--|:----------|:--|:-------------|:--|---------:|:--|:----------|------:|
| Chandler                  | ​ | Chandler, AZ       | ​ |             208 | ​ | $                  | 48.2 | ​ | $             | 48.2 | ​ | $            | 231,731 | ​ | 2Q 2024   | ​ | 3Q 2024      | ​ |     85.6 | % | $         | 1,920 |
|