Company: BHM
Filing Date: 2025-07-01
Form Type: 8-K/A
Source: 0001104659-25-064664
Chunk: 8

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-01
Form: 8-K/A
Chunk 8
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| (a) | Historical consolidated financial information derived from the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2025. |
|:----|:---------------------------------------------------------------------------------------------------------------------------------------------|
| (b) | The acquisition of a 100% ownership interest in Southern Pines Reserve                                                                       
 for a purchase price of $56.6 million, which the Company consolidated on its balance sheet. The Company recorded the following               
 associated with the acquisition of Southern Pines Reserve: (i) $2.0 million of capitalized acquisition costs, of which $1.4 million          
 is an acquisition fee payable to BR Churchill Downs DST Manager, LLC, which is a related party to the Company, (ii) a $30.7 million          
 senior loan, and (iii) borrowings of $20.0 million through a credit facility entered into with KeyBank National Association (the             
 “KeyBank Credit Facility”). The carrying value of the senior loan includes approximately ($1.1) million of deferred                          
 financing costs related to the acquisition.                                                                                                  |

<div align='center'>BLUEROCK HOMES TRUST, INC.

UNAUDITED PRO FORMA CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME

FOR THE THREE MONTHS ENDED MARCH 31, 2025

(In thousands, except share and per share amounts)</div>

| Revenues                                                         |     | Bluerock Homes 
 Trust, Inc.    
 Historical     
 (a)            |           |   |     | Pro Forma      
 Adjustments    
 Southern Pines 
 Reserve        
 (b)            |       |      |     | Pro Forma 
 Total     |           |   |
|:-----------------------------------------------------------------|:----|:---------------|----------:|:--|:----|:---------------|------:|:-----|:----|:----------|----------:|:--|
| Rental and other property revenues                               |     | $              |    15,910 |   |     | $              | 1,188 |      |     | $         |    17,098 |   |
| Interest income from loan investments                            |     |                |       503 |   |     |                |     — |      |     |           |       503 |   |
| Total revenues                                                   |     |                |    16,413 |   |     |                | 1,188 |      |     |           |