Bluerock Homes Trust, Inc. (BHM): M&A transaction — 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.

Key facts

Extracted from this filing and checked against the source text.

M&A Transactions SEC 8-K Item 2.01/5.01 confidence 0.9

Bluerock Homes Trust, Inc. completed an acquisition involving unaffiliated seller for approximately $41.2 million (closed 2024-03-25).

Action: acquisition
Counterparty: unaffiliated seller
Consideration: approximately $41.2 million
Closing: 2024-03-25

Exact text from the filing

On March 25, 2024, Bluerock Homes Trust, Inc., a Maryland corporation (the “Company”), through a 95% owned joint venture entity of its operating partnership, Bluerock Residential Holdings, L.P., a Delaware limited partnership, acquired a 294-unit residential community located in Houston, Texas known as Villas at Huffmeister for a total purchase price of approximately $41.2 million, inclusive of a $3.1 million fair value reduction related to assumed debt.

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Bluerock Homes Trust, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-24-118787

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