Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 131

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 131
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 unaffiliated third parties in The Woods at Forest Hill. The Woods
Loan was fully paid off in the principal amount of $8.3 million, and our preferred equity investment in the principal amount of $5.6
million was fully redeemed. In addition, our remaining $1.7 million of preferred equity investment in Willow Park, which was redeemed
in 2023 and collateralized by The Woods at Forest Hill and other investments held by the operating partnership of Peak Housing REIT (the
“Peak REIT OP”), was received in full in 2024. Also, our remaining preferred equity investment in the Peak REIT OP, which
was collateralized by single-family residential units collectively known as Peak Housing, in the principal amount of $10.6 million was
fully redeemed.

Sale of Navigator Villas

Prior to the sale of the
property, and to effectuate a tax-deferred exchange under Section 1031 of the Code, we purchased our joint venture partner’s
interest in Navigator Villas for $2.9 million, inclusive of estimated post-close adjustments. On August 7, 2024, we closed
on the sale of Navigator Villas located in Pasco, Washington for a sale price of $36.4 million, subject to certain prorations and
adjustments typical in such real estate transactions. After deductions for the payoff of existing mortgage indebtedness encumbering the
property in the amount of $19.5 million, the purchase price of the joint venture partner’s interest, the payment of early
extinguishment of debt costs, and closing costs and fees, the sale of Navigator Villas generated net proceeds of approximately $12.7 million
and a gain on sale of approximately $10.0 million. We recorded a loss on extinguishment of debt of $0.1 million related to
the sale.

Sale of Consolidated Operating Units

We closed on the following
sales: four units in the ILE portfolio, eleven units in the Indy-Springfield portfolio, twenty-three units in the Peak JV 2 portfolio,
and sixty units in the Peak JV 3 portfolio, pursuant to the terms and conditions of multiple separate purchase and sales agreements.
The ninety-eight units were sold for an aggregate of approximately $15.3 million, subject to certain closing costs, prorations and adjustments
typical in such real estate transactions, and generated net proceeds of approximately $14.4 million and a gain on sales of approximately
$1.8 million