Company: BHM
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001104659-25-046667
Chunk: 44

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 44
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 ​ | ​                  | ​ |           1,634 | ​ | ​                  |    ​ | ​ | ​             |    ​ | ​ | ​            |       ​ | ​ | ​         | ​ | ​            | ​ |        ​ | ​ | $         | 2,055 |

| (1) | Represents                                                                                                                                     
 the average pro forma effective monthly rent per occupied unit for all expected occupied units during the first full quarter of stabilization. |

| (2) | Chandler                         
 commenced lease-up in June 2024. |

| (3) | None of the                                                          
 development investments had commenced lease-up as of March 31, 2025. |

| (4) | Operating                                              
 investments represent stabilized operating properties. |

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024 Revenue Rental and other property revenues increased $5.1 million, or 48%, to $15.9 million for the three months ended March 31, 2025 as compared to $10.8 million for the same prior year period. The increase was primarily due to: (i) the acquisition of 294 units at Villas at Huffmeister during the first quarter 2024, 200 units at Avenue at Timberlin Park during the third quarter 2024, 408 units at Amira at Westly and 350 units at Allure at Southpark during the fourth quarter 2024, and (ii) rental rate improvement from our active management and organic market rent growth. The increase was partially offset by the sale of 176 units at Navigator Villas and 137 single-family units in our portfolio since January 1, 2024. Our average rent per occupied unit increased $95, or 5.9%, to $1,695 as compared to $1,600 during the prior year period. Average occupancy decreased 70 basis points from 92.5% to 91.8% on a year over year basis. Interest income from loan investments amounted to $0.5 million for the three months ended March 31, 2025 as compared to $0.4 million for the same prior year period due to (i) an increase in the outstanding balance of one loan investment, which was fully paid off in the first quarter 2025 and (ii) an increase in the return on a second loan investment. These increases in interest income were partially offset by the full payoff of a third loan investment in the third