Bluerock Homes acquires 294-unit Houston community for $41.2M

Bluerock Homes Trust, Inc.

Acquired Villas at Huffmeister via 95%-owned JV; total purchase price ~$41.2M inclusive of $3.1M debt fair value reduction.
Funded with $18.1M cash and assumption of $24.3M senior loan at 3.56% fixed rate, maturing October 1, 2029.
Property generated $5.5M revenue and $2.9M NOI for year ended Dec 31, 2023.
Pro forma adds $5.5M revenue and $2.2M depreciation/amortization to 2023 results.
Acquisition adds 294 units to portfolio; submarket demographics and occupancy cited as investment factors.

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