M&A
confidence high
sentiment neutral
materiality 0.60
Bluerock Homes Trust, Inc. (BHM): M&A transaction — Bluerock Homes Trust acquires 361-unit Skytop Apartments in Cincinnati for $88.5M
Bluerock Homes Trust, Inc.
- Purchase price $88.5M; funded with $13M equity, $57.5M Fannie Mae loan at 4.98% fixed, and $22M from KeyBank credit facility.
- Property is a 361-unit residential community in Cincinnati, OH, acquired from unaffiliated sellers Wood Stone V & VI.
- Senior loan matures October 2035, interest-only payments; KeyBank facility bears SOFR+3.60% or base+2.50%, matures one year from funding.
- Pro forma total net real estate investments rise to $811M; total assets pro forma approximately $1.07B.