{"url_path":"/sec/bhm/8-k/2026-06-02/item-9-01","section_key":"item-9-01","section_title":"Item 9.01 **","topic":"sec","document":{"doc_type":"8-K","doc_date":"2026-06-02","source_url":"https://www.sec.gov/Archives/edgar/data/1903382/0001104659-26-069436-index.html","accession_number":"0001104659-26-069436","cik":"0001903382","ticker":"BHM","issuer_name":"Bluerock Homes Trust, Inc.","edgar_url":"https://www.sec.gov/Archives/edgar/data/1903382/0001104659-26-069436-index.html","primary_entity_key":"0001903382","primary_entity_name":"Bluerock Homes Trust, Inc."},"word_count":2462,"has_tables":true,"body_markdown":"**ITEM 9.01**\n**FINANCIAL STATEMENTS**\n\n \n\n(a)\n\nPro Forma Financial Information\n\n \n\n**Bluerock Homes Trust, Inc.**\n\n \n\nPro Forma Condensed Consolidated Balance Sheet\nas of March 31, 2026 (unaudited)\n\n \n\nNotes to Pro Forma Condensed Consolidated Balance\nSheet as of March 31, 2026 (unaudited)\n\n \n\nPro Forma Condensed Consolidated Statement of\nOperations and Comprehensive Income (Loss) for the three months ended March 31, 2026 (unaudited)\n\n \n\nNotes to Pro Forma Condensed Consolidated Statement\nof Operations and Comprehensive Income (Loss) for the three months ended March 31, 2026 (unaudited)\n\n \n\nPro Forma Condensed Consolidated Statement of\nOperations and Comprehensive Income (Loss) for the year ended December 31, 2025 (unaudited)\n\n \n\nNotes to Pro Forma Condensed Consolidated Statement\nof Operations and Comprehensive Income (Loss) for the year ended December 31, 2025 (unaudited)\n\n \n\nStatements in this Current\nReport on Form 8-K, including intentions, beliefs, expectations or projections relating to items such as the long-term performance\nof the Company’s portfolio are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933,\nas amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based on current expectations\nand assumptions with respect to, among other things, future economic, competitive and market conditions, and future business decisions\nthat may prove incorrect or inaccurate. Important factors that could cause actual results to differ materially from those in the forward-looking\nstatements include the risks described under the heading “Risk Factors” in the Company’s Annual Report on Form 10-K\nfiled with the SEC on February 27, 2026 and its other filings with the SEC.\n\n \n\n \n\n \n\n \n\n**BLUEROCK HOMES TRUST, INC.**\n\n**UNAUDITED PRO FORMA CONDENSED CONSOLIDATED FINANCIAL\nSTATEMENTS INFORMATION**\n\n \n\nThe following unaudited pro\nforma condensed consolidated financial statements of Bluerock Homes Trust, Inc. (together with its consolidated subsidiaries, the\n“Company,” “we,” “our” or “us”) should be read in conjunction with our historical audited\nconsolidated financial statements as of and for the year ended December 31, 2025, and as of and for the three months ended March 31,\n2026 (unaudited), and the related notes thereto.\n\n \n\nThe unaudited pro forma condensed\nconsolidated balance sheet as of March 31, 2026, and the unaudited pro forma condensed consolidated statements of operations and comprehensive\nincome (loss) for the three months ended March 31, 2026 and the year ended December 31, 2025, have been prepared to provide pro forma\nfinancial information with regard to the Company’s disposition of single-family residential units within the Golden Pacific portfolio,\nwhich the Company consolidated, and includes pro forma information for the transactions described below. The unaudited pro forma financial\ninformation gives effect to:\n\n \n\n(1)The Company’s disposition of its interests in an aggregate\nof 35 units within the Golden Pacific portfolio to unaffiliated third parties as follows: the disposition of (i) 19 units during the\nquarter ended March 31, 2026, and (ii) 16 units during the period of April 1, 2026 through May 27, 2026. The pro forma financial information\npresented herein does not give effect to the subsequent reinvestment of the net proceeds from such dispositions.\n\n \n\nThe pro forma condensed consolidated\nbalance sheet as of March 31, 2026 assumes that the disposition of the 16 units during the period of April 1, 2026 through May 27, 2026\nreferred to above occurred on March 31, 2026.\n\n \n\nThe pro forma condensed consolidated\nstatement of operations and comprehensive income (loss) for the three months ended March 31, 2026 assumes that the disposition of\nthe aggregate 35 units referred to above occurred on January 1, 2026.\n\n \n\nThe pro forma condensed consolidated\nstatement of operations and comprehensive income (loss) for the year ended December 31, 2025 assumes that the disposition of the\naggregate 35 units referred to above occurred on January 1, 2025.\n\n \n\nOur pro forma financial information\nis not necessarily indicative of what our actual financial position and results of operations would have been as of the date and for the\nperiods indicated, nor does it purport to represent our future financial position or results of operations.\n\n \n\nThese unaudited pro forma\ncondensed consolidated financial statements are prepared for informational purposes only. In management’s opinion, all material\nadjustments necessary to reflect the effects of the transaction referred to above have been made. Our unaudited pro forma condensed consolidated\nfinancial statements are based on assumptions and estimates considered appropriate by the Company’s management. However, they are\nnot necessarily indicative of what our consolidated financial condition or results of operations would have been assuming the transaction\nreferred to above had occurred as of the dates indicated, nor do they purport to represent our consolidated financial position or results\nof operations for future periods.\n\n \n\n \n\n \n\n \n\n**BLUEROCK HOMES TRUST, INC.**\n\n**UNAUDITED PRO FORMA CONDENSED CONSOLIDATED\nBALANCE SHEET**\n\n**AS OF MARCH 31, 2026**\n\n**(In thousands, except share and per share amounts)**\n\n  \n\n  \n   \nPro Forma\nAdjustments  \n  \n\n  \nBluerock Homes\nTrust, Inc.\nHistorical\n(a)  \nGolden Pacific\nUnit Sales\n(b)  \nPro Forma\nTotal \n\nASSETS \n    \n    \n   \n\nNet real estate investments \n    \n    \n   \n\nLand \n$119,485  \n$(186) \n$119,299 \n\nBuildings and improvements \n 742,835  \n (897) \n 741,938 \n\nFurniture, fixtures and equipment \n 29,157  \n (12) \n 29,145 \n\nConstruction in process \n 13,152  \n —  \n 13,152 \n\nTotal gross operating real estate investments \n 904,629  \n (1,095) \n 903,534 \n\nAccumulated depreciation \n (70,340) \n 133  \n (70,207)\n\nTotal net operating real estate investments \n 834,289  \n (962) \n 833,327 \n\nOperating real estate held for sale, net \n 13,031  \n (2,652) \n 10,379 \n\nTotal net real estate investments \n 847,320  \n (3,614) \n 843,706 \n\nCash and cash equivalents \n 170,097  \n 4,015  \n 174,112 \n\nRestricted cash \n 21,453  \n (2) \n 21,451 \n\nInvestment in unconsolidated real estate fund \n 25,778  \n —  \n 25,778 \n\nAccounts receivable, prepaids and other assets, net \n 28,116  \n —  \n 28,116 \n\nPreferred equity investments, net \n 43,577  \n —  \n 43,577 \n\nOther intangible assets, net \n 5,938  \n —  \n 5,938 \n\nDue from affiliates \n 633  \n —  \n 633 \n\nNon-real estate assets associated with operating real estate held for sale \n 33  \n (3) \n 30 \n\nTOTAL ASSETS \n$1,142,945  \n$396  \n$1,143,341 \n\n  \n    \n    \n   \n\nLIABILITIES AND EQUITY \n    \n    \n   \n\nMortgages payable \n$416,810  \n$—  \n$416,810 \n\nAccounts payable \n 756  \n —  \n 756 \n\nOther accrued liabilities \n 20,591  \n (16) \n 20,575 \n\nDue to affiliates \n 7,573  \n —  \n 7,573 \n\nDistributions payable \n 2,548  \n —  \n 2,548 \n\nLiabilities associated with operating real estate held for sale \n 123  \n (36) \n 87 \n\nTotal Liabilities \n 448,401  \n (52) \n 448,349 \n\n6.0% Series A Redeemable Preferred Stock, liquidation preference $25.00 per share, 30,000,000 shares authorized; 6,473,063 shares issued and outstanding at March 31, 2026 \n 146,945  \n —  \n 146,945 \n\n7.5% Series B Redeemable Preferred Stock, liquidation preference $25.00 per share, 14,000,000 shares authorized; 104,288 shares issued and outstanding at March 31, 2026 \n 2,294  \n —  \n 2,294 \n\nEquity \n    \n    \n   \n\nStockholders’ Equity \n    \n    \n   \n\nPreferred stock, $0.01 par value, 206,000,000 shares authorized; no shares issued and outstanding at March 31, 2026 \n —  \n —  \n — \n\nCommon stock - Class A, $0.01 par value, 562,500,000 shares authorized; 4,043,514 shares issued and outstanding at March 31, 2026, historical and pro forma \n 40  \n —  \n 40 \n\nCommon stock - Class C, $0.01 par value, 187,500,000 shares authorized; 8,489 shares issued and outstanding at March 31, 2026, historical and pro forma \n —  \n —  \n — \n\nAdditional paid-in-capital \n 121,504  \n —  \n 121,504 \n\nCumulative earnings in excess of distributions \n 3,260  \n 440  \n 3,700 \n\nAccumulated other comprehensive gain \n 38  \n —  \n 38 \n\nTotal Stockholders’ Equity \n 124,842  \n 440  \n 125,282 \n\nNoncontrolling Interests \n    \n    \n   \n\nOperating partnership units \n 285,667  \n —  \n 285,667 \n\nPartially-owned properties \n 134,796  \n 8  \n 134,804 \n\nTotal Noncontrolling Interests \n 420,463  \n 8  \n 420,471 \n\nTotal Equity \n 545,305  \n 448  \n 545,753 \n\nTOTAL LIABILITIES AND EQUITY \n$1,142,945  \n$396  \n$1,143,341 \n\n \n\nSee Notes to Unaudited Pro Forma Condensed Consolidated\nBalance Sheet\n\n \n\n \n\n \n\n \n\n**BLUEROCK HOMES TRUST, INC.**\n\n**NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED\nBALANCE SHEET**\n\n**AS OF MARCH 31, 2026**\n\n \n\n(a)\nHistorical consolidated financial information derived from the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026.\n\n \n \n\n(b)\nReflects the Company’s disposition of its interest in 16 units within the Golden Pacific portfolio that occurred during the period of April 1, 2026 through May 27, 2026 which were included in the Company’s historical consolidated balance sheet. The dispositions of the Golden Pacific units were to unaffiliated third parties. The pro forma financial information does not reflect the subsequent reinvestment of the net proceeds from such dispositions.\n\n \n\n \n\n \n\n \n\n**BLUEROCK HOMES TRUST, INC.**\n\n**UNAUDITED PRO FORMA CONDENSED CONSOLIDATED\nSTATEMENT OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS)**\n\n**FOR THE THREE MONTHS ENDED MARCH 31, 2026**\n\n**(In thousands, except share and per share amounts)**\n\n \n\n  \n   \nPro Forma\nAdjustments  \n  \n\n  \nBluerock Homes\nTrust, Inc.\nHistorical\n(a)  \nGolden Pacific\nUnits Sales\n(b)  \nPro Forma\nTotal \n\nRevenues \n    \n    \n   \n\nRental and other property revenues \n$19,701  \n$(104) \n$19,597 \n\nTotal revenues \n 19,701  \n (104) \n 19,597 \n\n  \n    \n    \n   \n\nExpenses \n    \n    \n   \n\nProperty operating \n 9,081  \n (95) \n 8,986 \n\nProperty management and asset management fees \n 1,571  \n (20) \n 1,551 \n\nGeneral and administrative \n 3,114  \n —  \n 3,114 \n\nManagement fees to related party \n 2,688  \n —  \n 2,688 \n\nAcquisition and other transaction costs \n 43  \n —  \n 43 \n\nWeather-related losses, net \n 250  \n —  \n 250 \n\nImpairment of real estate investments \n 601  \n —  \n 601 \n\nDepreciation and amortization \n 8,858  \n (49) \n 8,809 \n\nTotal expenses \n 26,206  \n (164) \n 26,042 \n\n  \n    \n    \n   \n\nOther (expense) income \n    \n    \n   \n\nOther expense, net \n (882) \n 2  \n (880)\n\nIncome from preferred equity investments \n 1,531  \n —  \n 1,531 \n\nShare of net earnings of equity method investment \n 296  \n —  \n 296 \n\nGain on sale of real estate investments, net \n 584  \n (280) \n 304 \n\nLoss on extinguishment of debt costs \n (36) \n —  \n (36)\n\nInterest expense, net \n (6,485) \n —  \n (6,485)\n\nInterest income \n 1,276  \n —  \n 1,276 \n\nTotal other expense \n (3,716) \n (278) \n (3,994)\n\nLoss before income taxes \n (10,221) \n (218) \n (10,439)\n\nIncome tax expense \n (76) \n —  \n (76)\n\nNet loss \n (10,297) \n (218) \n (10,515)\n\nPreferred stock dividends \n (2,609) \n —  \n (2,609)\n\nPreferred stock accretion \n (993) \n —  \n (993)\n\nNet loss attributable to noncontrolling interests \n    \n    \n   \n\nOperating partnership units \n 7,824  \n 152  \n 7,976 \n\nPartially-owned properties \n 2,642  \n —  \n 2,642 \n\nNet loss attributable to noncontrolling interests \n 10,466  \n 152  \n 10,618 \n\nNet loss attributable to common stockholders \n$(3,433) \n$(66) \n$(3,499)\n\n  \n    \n    \n   \n\nLoss per common share (c) \n    \n    \n   \n\nNet loss per common share – Basic \n$(0.90) \n    \n$(0.91)\n\nNet loss per common share – Diluted \n$(0.90) \n    \n$(0.91)\n\n  \n    \n    \n   \n\nWeighted average basic common shares outstanding \n 3,898,102  \n    \n 3,898,102 \n\nWeighted average diluted common shares outstanding \n 3,898,102  \n    \n 3,898,102 \n\n  \n    \n    \n   \n\nOther comprehensive income \n    \n    \n   \n\nUnrealized gain on available-for-sale investments, net \n$89  \n$—  \n$89 \n\nLess unrealized gain attributable to Operating partnership units \n (62) \n —  \n (62)\n\nOther comprehensive income attributable to common stockholders \n 27  \n —  \n 27 \n\nComprehensive loss attributable to noncontrolling interests \n 10,404  \n 152  \n 10,556 \n\nComprehensive loss attributable to common stockholders \n$(3,406) \n$(66) \n$(3,472)\n\n \n\nSee Notes to Unaudited Pro Forma Condensed Consolidated\nStatement of Operations and Comprehensive Income (Loss)\n\n \n\n \n\n \n\n \n\n**BLUEROCK HOMES TRUST, INC.**\n\n**NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED\nSTATEMENTS OF OPERATIONS AND**\n\n**COMPREHENSIVE INCOME (LOSS)**\n\n**FOR THE THREE MONTHS ENDED MARCH 31, 2026**\n\n \n\n(a)\nHistorical consolidated financial information derived from the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026.\n\n \n \n\n(b)\nReflects the Company’s disposition of its interest in an aggregate of 35 units within the Golden Pacific portfolio that occurred during the period of January 1, 2026 through May 27, 2026 which were included in the Company’s historical consolidated statement of operations and comprehensive income (loss). The dispositions of the Golden Pacific units were to unaffiliated third parties.\n\n \n \n\n(c)\nLoss per share is calculated in accordance with Accounting Standards Codification 260 – “Earnings per Share.” The historical loss per share amounts are the amounts reported in the Company’s Quarterly Report on Form 10-Q for the quarter ended March 31, 2026.\n\n \n\n \n\n \n\n \n\n**BLUEROCK HOMES TRUST, INC.**\n\n**UNAUDITED PRO FORMA CONDENSED CONSOLIDATED\nSTATEMENT OF OPERATIONS AND COMPREHENSIVE\nINCOME (LOSS)**\n\n**FOR THE YEAR ENDED DECEMBER 31, 2025**\n\n**(In thousands, except share and per share amounts)**\n\n \n\n  \n   \nPro Forma\nAdjustments  \n  \n\n  \nBluerock Homes\nTrust, Inc.\nHistorical\n(a)  \nGolden Pacific\nUnit Sales\n(b)  \nPro Forma\nTotal \n\nRevenues \n    \n    \n   \n\nRental and other property revenues \n$68,136  \n$(697) \n$67,439 \n\nInterest income from loan investments \n 598  \n —  \n 598 \n\nTotal revenues \n 68,734  \n (697) \n 68,037 \n\n  \n    \n    \n   \n\nExpenses \n    \n    \n   \n\nProperty operating \n 33,185  \n (311) \n 32,874 \n\nProperty management and asset management fees \n 5,372  \n (135) \n 5,237 \n\nGeneral and administrative \n 11,249  \n —  \n 11,249 \n\nManagement fees to related party \n 10,471  \n —  \n 10,471 \n\nAcquisition and other transaction costs \n 418  \n —  \n 418 \n\nWeather-related losses, net \n 59  \n —  \n 59 \n\nImpairment of real estate investments \n 5,905  \n —  \n 5,905 \n\nDepreciation and amortization \n 29,418  \n (275) \n 29,143 \n\nTotal expenses \n 96,077  \n (721) \n 95,356 \n\n  \n    \n    \n   \n\nOther (expense) income \n    \n    \n   \n\nOther expense, net \n (139) \n 20  \n (119)\n\nIncome from preferred equity investments \n 8,759  \n —  \n 8,759 \n\nShare of net earnings of equity method investment \n 1,058  \n —  \n 1,058 \n\nRecovery of credit losses, net \n 103  \n —  \n 103 \n\nGain on sale of real estate investments, net \n 1,689  \n —  \n 1,689 \n\nGain on sale of available-for-sale investments, net \n 3,664  \n —  \n 3,664 \n\nLoss on extinguishment of debt costs \n (27) \n —  \n (27)\n\nInterest expense, net \n (23,988) \n —  \n (23,988)\n\nInterest income \n 5,258  \n —  \n 5,258 \n\nTotal other expense \n (3,623) \n 20  \n (3,603)\n\nLoss before income taxes \n (30,966) \n 44  \n (30,922)\n\nIncome tax expense \n (1,632) \n —  \n (1,632)\n\nNet loss  \n (32,598) \n 44  \n (32,554)\n\nPreferred stock dividends \n (9,203) \n —  \n (9,203)\n\nPreferred stock accretion \n (4,538) \n —  \n (4,538)\n\nNet loss attributable to noncontrolling interests \n    \n    \n   \n\nOperating partnership units \n 25,797  \n (30) \n 25,767 \n\nPartially-owned properties \n 9,051  \n —  \n 9,051 \n\nNet loss attributable to noncontrolling interests \n 34,848  \n (30) \n 34,818 \n\nNet loss attributable to common stockholders \n$(11,491) \n$14  \n$(11,477)\n\n  \n    \n    \n   \n\nLoss per common share (c) \n    \n    \n   \n\nNet loss per common share – Basic \n$(3.02) \n    \n$(3.02)\n\nNet loss per common share – Diluted \n$(3.02) \n    \n$(3.02)\n\n  \n    \n    \n   \n\nWeighted average basic common shares outstanding \n 3,889,301  \n    \n 3,889,301 \n\nWeighted average diluted common shares outstanding \n 3,889,301  \n    \n 3,889,301 \n\n  \n    \n    \n   \n\nOther comprehensive income \n    \n    \n   \n\nUnrealized gain on available for sale investments \n$568  \n$—  \n$568 \n\nLess unrealized gain attributable to Operating partnership units \n (393) \n —  \n (393)\n\nOther comprehensive income attributable to common stockholders \n 175  \n —  \n 175 \n\nComprehensive loss attributable to noncontrolling interests \n 34,455  \n (30) \n 34,425 \n\nComprehensive loss attributable to common stockholders \n$(11,316) \n$14  \n$(11,302)\n\n \n\nSee Notes to Unaudited Pro Forma Condensed Consolidated\nStatement of Operations and Comprehensive Income (Loss)\n\n \n\n \n\n \n\n \n\n**BLUEROCK HOMES TRUST, INC.**\n\n**NOTES TO UNAUDITED PRO FORMA CONDENSED CONSOLIDATED\nSTATEMENTS OF OPERATIONS AND**\n\n**COMPREHENSIVE INCOME (LOSS)**\n\n**FOR THE YEAR ENDED DECEMBER 31, 2025**\n\n \n\n(a)\nHistorical consolidated financial information derived from the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Certain amounts in prior year financial statement presentation have been reclassified to conform to the current year presentation. Specifically, impairment of real estate amounts that were previously included with gains on sales of real estate in a single line item on the consolidated statements of operations and comprehensive income (loss) are now presented separately within impairment of real estate investments.\n\n \n \n\n(b)\nReflects the Company’s disposition of its interest in an aggregate of 35 units within the Golden Pacific portfolio that occurred during the period of January 1, 2026 through May 27, 2026 which were included in the Company’s historical consolidated statement of operations and comprehensive income (loss). The dispositions of the Golden Pacific units were to unaffiliated third parties.\n\n \n \n\n(c)\nLoss per share is calculated in accordance with Accounting Standards Codification 260 – “Earnings per Share.” The historical loss per share amounts are the amounts reported in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. Unvested share-based payment awards that contain nonforfeitable rights to dividends are participating securities and are included in the computation of loss per share.\n\n \n\n \n\n \n\n \n\n**SIGNATURES**\n\n \n\nPursuant to the requirements of the Securities\nExchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned thereunto duly authorized.\n\n \n\n \n \n**BLUEROCK HOMES TRUST, INC**.\n\n \n \n \n \n\nDATE: \nJune 2, 2026\n By:\n/s/ Christopher J. Vohs\n\n \n \n \nChristopher J. Vohs\n\n \n \n \nChief Financial Officer and Treasurer"}