Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 130

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 130
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, 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.

Held for Sale

At December 31, 2024, we classified an aggregate of 167 units as held for sale in our consolidated balance sheets, and for the year ended December 31, 2024, we recorded an impairment of $3.3 million related to held for sale units which is included in gain on sale and (impairment) of real estate investments, net in our consolidated statements of operations and comprehensive income. The 167 units classified as held for saleare all reported in our scattered single-family homes segment and are included in the following portfolios:
8 units of ILE, 37 units of Indy-Springfield, 32 units of Peak JV 2, and all 90 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.

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Series A