Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 231

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 231
---
 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, 2024, the company and an unaffiliated third-party landlord
entered into a lease for separate corporate space (the “NY Premises Lease”) located at 919 Third Avenue, New York, New York
(the “NY Premises”). The NY Premises Lease commenced in November 2024 when the landlord made the NY Premises available
to the company to begin its own alterations and improvements. With respect to the NY Premises, the company and Bluerock Real Estate Holdings,
LLC (“BREH”), which is an affiliate of the Manager, entered into a leasehold cost-sharing agreement (the “Leasehold
Cost-Sharing Agreement”) to provide for the allocation and sharing between BREH and the company of the costs thereunder, including
costs associated with tenant improvements. BREH and certain of its respective subsidiaries and/or affiliates will share occupancy of the
NY Premises. Under the Leasehold Cost-Sharing Agreement, if there is a change in control of either BREH or the company, the allocation
of costs under the Leasehold Cost-Sharing Agreement shall be modified to thereafter allocate such costs based on the average of the cost-sharing percentages
between BREH and the company over the four most recently-completed calendar quarters immediately preceding the change in control date
(or shall be the average cost-sharing percentages over such shorter period, if the change in control occurs earlier than the completion
of four calendar quarters). Under the NY Premises Lease, the company, through its Operating Partnership, issued a payment of approximately
$450,000 as a security deposit. Payment by