UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM
CURRENT REPORT
Pursuant to Section 13 or 15(d) of the Securities Exchange Act of 1934
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| ITEM 2.01 | COMPLETION OF ACQUISITION OR DISPOSITION OF ASSETS |
The disclosure below describes the disposition of the Company’s preferred equity investments in each of Indigo Cove and Wayford at Pringle. All figures provided below are approximate.
On April 11, 2025 Bluerock Homes Trust, Inc., a Maryland corporation (the “Company”), through BHM Preferred Holdings TRS, LLC (the “Contributor”), a Delaware limited liability company and wholly-owned subsidiary of the Company’s operating partnership, Bluerock Residential Holdings, L.P., a Delaware limited partnership (the “Operating Partnership”), entered into (i) a Contribution Agreement (the “Indigo Contribution Agreement”) with an affiliate of the Company’s external manager, Bluerock Homes Manager, LLC, a Delaware limited liability company (such affiliate, the “Joint Venture”), for the sale of the Company’s preferred equity investment in Indigo Cove, an 82-unit ground-up development project in Bluffton, South Carolina (the “Indigo Investment”) for net proceeds to the Company (exclusive of legal fees) of approximately $4.18 million, and (ii) a Contribution Agreement (the “Pringle Contribution Agreement”) with the Joint Venture for the sale of the Company’s preferred equity investment in Wayford at Pringle, a 102-unit stabilized townhome community in Charlotte, North Carolina (the “Pringle Investment”) for net proceeds to the Company (exclusive of legal fees) of approximately $13.4 million.
Under the terms of each of the Indigo Contribution Agreement and the Pringle Contribution Agreement, each of the Indigo Investment and the Pringle Investment were sold to the Joint Venture for an amount equal to the Company’s currently funded amount and accrued interest outstanding with respect to each of the Indigo Investment and the Pringle Investment, less (in the case of the Indigo Investment only) an origination fee reimbursement of approximately $53,000.
| ITEM 9.01 | FINANCIAL STATEMENTS AND EXHIBITS |
| (b) | Pro Forma Financial Information |
The following pro forma financial information of the Company as adjusted to give effect to the dispositions of each of the Indigo Investment and the Pringle Investment is presented in the unaudited pro forma condensed consolidated financial statements filed as Exhibit 99.1 to this Current Report on Form 8-K and incorporated by reference in this Item 9.01:
Bluerock Homes Trust, Inc.
Unaudited Pro Forma Condensed Consolidated Balance Sheet as of December 31, 2024
Notes to Unaudited Pro Forma Condensed Consolidated Balance Sheet as of December 31, 2024
Unaudited Pro Forma Condensed Consolidated Statement of Operations and Comprehensive Income for the year ended December 31, 2024
Notes to Unaudited Pro Forma Condensed Consolidated Statement of Operations and Comprehensive Income for the year ended December 31, 2024
| (d) | Exhibits |
| Exhibit Number |
Description | |
| 99.1 | Unaudited Pro Forma Condensed Consolidated Financial Statements | |
| 104 | Cover Page Interactive Data File (formatted as inline XBRL) |
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| BLUEROCK HOMES TRUST, INC. | ||
| Date: April 17, 2025 | By: | /s/ Christopher J. Vohs |
| Christopher J. Vohs | ||
| Chief Financial Officer and Treasurer | ||