Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 215

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 215
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| ​                          | ​ | ​                       | ​ | The Effect of Derivative Instruments |        |   |      |        |
| Derivatives not designated 
 as hedging                 | ​ | Location of Gain (Loss) | ​ |      on the Statements of Operations |        |   |      |        |
| instruments under ASC      
 815-20                     | ​ | Recognized in Income    | ​ |                                  and 
                 Comprehensive Income |        |   |      |        |
| ​                          | ​ | ​                       |   |                                 2024 |        |   | 2023 |        |
| Interest rate caps         |   | Interest expense        | ​ |                                    $ | -3,765 | ​ |    $ | -2,768 |
| Interest rate swaps        |   | Interest expense        | ​ |                                      |   -120 | ​ |    ​ |   -165 |

Credit-risk-related Contingent Features The Company has agreements with each of its derivative counterparties that contain a provision where the Company could be declared in default on its derivative obligations if repayment of the underlying indebtedness is accelerated by the lender due to the Company’s default on the indebtedness. Note 13 – Related Party Transactions Management Agreement with the Manager In October 2022, the Company entered into a management agreement (the “Management Agreement”) with the Operating Partnership and Bluerock Homes Manager, LLC (the “Manager”), which is an affiliate of Bluerock Real Estate, LLC (“BRE”), pursuant to which the Manager provides for the day-to-day management of the Company’s operations. Pursuant to the terms of the Management Agreement, the Manager provides the Company with a management team and appropriate support personnel to provide such management services to the Company. The Management Agreement requires the Manager to manage the Company’s business affairs under the supervision and direction of the Company’s board of directions (the “Board”). Specifically, the Manager is responsible for (i) the selection, purchase and sale of the Company’s portfolio investments, (ii) the Company’s financing activities, and (iii) providing the Company with advisory services, in each case in conformity with the investment guidelines and other policies approved and monitored by its Board. The Management Agreement expires on October 6, 2025 and will be automatically renewed for a one-year term on each anniversary date thereafter unless earlier terminated or not renewed in accordance with the terms thereof. The Company pays the Manager a base management fee (the “