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Schedule III and Schedule IV

12 Months Ended

Dec. 31, 2025

Schedule III and Schedule IV

Schedule III and Schedule IV


Bluerock Homes Trust, Inc.
Notes to Schedule III	December 31, 2025
(amounts in thousands)

1. Reconciliation of Real Estate Properties

The following table reconciles the Real Estate Properties from January 1, 2024 to December 31, 2025.


		2025			2024
Balance at January 1		$	727,798		$	498,542
Acquisition of real estate			217,024			269,289
Capital expenditures			18,133			9,863
Impairment			(5,905)			(4,703)
Disposition of real estate			(21,586)			(45,193)
Balance at December 31		$	935,464		$	727,798

2. Reconciliation of Accumulated Depreciation

The following table reconciles the Real Estate Properties from January 1, 2024 to December 31, 2025.


		2025			2024
Balance at January 1		$	44,170		$	33,642
Current year depreciation expense			24,723			17,379
Disposition of real estate			(1,815)			(6,851)
Balance at December 31		$	67,078		$	44,170


Bluerock Homes Trust, Inc.
Schedule IV - Mortgage Loans on Real Estate	December 31, 2025

Principal Amount of

Face Amount of

Carrying Amount of

Mortgages Subject to

Periodic Payment

Mortgages

Mortgages

Delinquent

Description

Property Name

Location

Interest Rate

Maturity Date

Terms

Prior Liens

(in thousands)

(in thousands)

Principal or Interest

Real Estate Loans on

Residential Rental Community ⁽¹⁾

—

$

—

$

—

—

$

—

$

—

(1)	The Company held no loan investments on real estate at December 31, 2025.

Note to Schedule IV - Reconciliation of Mortgage Loans on Real Estate

(amounts in thousands)


		Year Ended December 31,
		2025			2024
Balance at beginning of period		$	31,700		$	17,684
Additions during period:
Purchases			—			22,300
Deductions during period:
Collections of principal			(31,700)			(8,284)
Balance at end of period		$	—		$	31,700