Company: BHM
Filing Date: 2025-11-06
Form Type: 424B3
Source: 0001104659-25-107769
Chunk: 64

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-06
Form: 424B3
Chunk 64
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and $0.9 million, and $0.6 million and $2.1 million, respectively, related to held for sale units which is included in (impairment) and
gain on sale of real estate investments, net on our consolidated statements of operations and comprehensive income. The 84 units classified
as held for sale at September 30, 2025 are all reported in our scattered single-family homes segment and are included in the following
portfolios: 4 units of Golden Pacific, 5 units of ILE, 23 units of Indy-Springfield, 10 units of Peak JV 2, and all 42 units of Peak JV
3. These units were identified based on submarket analysis and individual unit-level operational review. Real estate assets classified
as held for sale are reported at the lower of their carrying value or estimated fair value less costs to sell and are presented separately
within operating real estate held for sale, net on our consolidated balance sheets.

Series A Redeemable Preferred Stock

During
the nine months ended September 30, 2025, we issued 1,493,372 shares of 6.0% Series A Redeemable Preferred Stock (the “Series A
Preferred Stock”) at $25.00 per share (the “Stated Value”) under a continuous registered offering with net proceeds
of approximately $32.3 million after commissions, dealer manager fees and sales discounts, and costs related to establishing the offering
of Series A Preferred Stock. As of September 30, 2025, we have issued a total of 6,126,657 shares of Series A Preferred Stock with total
net proceeds of approximately $133.4 million after commissions, dealer manager fees, sales discounts and offering costs. Additionally,
as of September 30, 2025, we, at the request of holders, had redeemed a total of 10,960 shares of Series A Preferred Stock through the
issuance of 18,653 shares of Class A common stock and redeemed a total of 27,868 shares of Series A Preferred Stock in cash.

Series A Preferred
Stock Redemption Safeguard Policy

On
February 6, 2025, we implemented a new Series A Preferred Stock Redemption Safeguard Policy (the “Policy”) with respect to
our Series A Preferred Stock. The Policy is applicable in the event of any redemption of shares of Series A Preferred Stock in shares
of our Class A common stock rather than in cash (each,