Bluerock Homes Trust Amends Filing with Amira JV Financials
Ticker: BHM · Form: 8-K/A · Filed: Jan 16, 2025 · CIK: 1903382
Sentiment: neutral
Topics: amendment, financial-statements, real-estate
TL;DR
Bluerock Homes Trust (BLUR) filed an amendment to include financial statements for Amira at Westly property acquired earlier.
AI Summary
Bluerock Homes Trust, Inc. filed an 8-K/A on January 16, 2025, to amend a previous 8-K filing. This amendment presents the consolidated financial statements for Amira JV LP and Subsidiary as of and for the year ended December 31, 2023. Amira JV's sole asset at the time of acquisition by Bluerock Homes Trust was the Amira at Westly property.
Why It Matters
This filing provides updated financial information for a key asset, Amira at Westly, which is crucial for investors to assess the company's performance and asset value.
Risk Assessment
Risk Level: low — This is an amendment to provide previously omitted financial statements, not a new material event.
Key Players & Entities
- Bluerock Homes Trust, Inc. (company) — Registrant
- Amira JV LP and Subsidiary (company) — Entity whose financial statements are being presented
- Amira at Westly (company) — Property held by Amira JV
- October 31, 2024 (date) — Earliest event reported date
- December 31, 2023 (date) — Fiscal year end for Amira JV financial statements
FAQ
What is the purpose of this Form 8-K/A filing?
The purpose is to amend Item 9.01 of a previous Form 8-K to present the consolidated financial statements of Amira JV LP and Subsidiary as of and for the year ended December 31, 2023.
What was the sole asset of Amira JV at the time of acquisition?
At the time of acquisition by Bluerock Homes Trust, Amira JV held the Amira at Westly property as its sole asset through a wholly-owned subsidiary.
When is the earliest event reported in this filing?
The earliest event reported is dated October 31, 2024.
What period do the presented financial statements cover?
The presented financial statements are for the year ended December 31, 2023.
What is the filing date of this Form 8-K/A?
This Form 8-K/A was filed on January 16, 2025.
Filing Stats: 4,423 words · 18 min read · ~15 pages · Grade level 16.7 · Accepted 2025-01-16 15:53:19
Key Financial Figures
- $0.01 — hich registered Class A Common Stock, $0.01 par value per share BHM NYSE America
- $250,000 — nsured institutions is guaranteed up to $250,000 per depositor. The Company periodically
- $76,528 — or the year ended December 31, 2023 was $76,528. Unamortized loan costs are reflected o
- $259,594 — st are payable monthly in the amount of $259,594 until the loan's maturity. Additionally
- $107,627 — , the loans require monthly payments of $107,627 to restricted cash for future real esta
- $310,481 — ny incurred property management fees of $310,481. For the year ended December 31, 2023,
- $50,131 — ncurred construction management fees of $50,131, which are capitalized on the consolida
- $26,032 — fees payable at December 31, 2023 were $26,032, and were included in due to related pa
Filing Documents
- tm253440d1_8ka.htm (8-K/A) — 343KB
- tm253440d1_ex23-1.htm (EX-23.1) — 2KB
- 0001104659-25-004088.txt ( ) — 552KB
- bhm-20241031.xsd (EX-101.SCH) — 3KB
- bhm-20241031_lab.xml (EX-101.LAB) — 33KB
- bhm-20241031_pre.xml (EX-101.PRE) — 22KB
- tm253440d1_8ka_htm.xml (XML) — 4KB
01 FINANCIAL STATEMENTS AND EXHIBITS
ITEM 9.01 FINANCIAL STATEMENTS AND EXHIBITS (a) Consolidated Financial Statements Amira JV LP and Subsidiary Independent Auditor's Report Consolidated Balance Sheet as of December 31, 2023 Consolidated Statement of Operations for the year ended December 31, 2023 Consolidated Statement of Changes in Partners' Equity for the year ended December 31, 2023 Consolidated Statement of Cash Flows for the year ended December 31, 2023
Notes to Consolidated Financial Statements
Notes to Consolidated Financial Statements (b)
Financial Statements of Real Estate Acquired
Financial Statements of Real Estate Acquired Amira at Westly for the year ended December 31, 2023 and the nine months ended September 30, 2024 Notes to Statements of Revenues and Certain Operating Expenses (c) Pro Forma Financial Information Bluerock Homes Trust, Inc. Pro Forma Condensed Consolidated Balance Sheet as of September 30, 2024 (unaudited) Notes to Pro Forma Condensed Consolidated Balance Sheet as of September 30, 2024 (unaudited) Pro Forma Condensed Consolidated Statement of Operations for the nine months ended September 30, 2024 (unaudited) Notes to Pro Forma Condensed Consolidated Statement of Operations for the nine months ended September 30, 2024 (unaudited) Pro Forma Condensed Consolidated Statement of Operations for the year ended December 31, 2023 (unaudited) Notes to Pro Forma Condensed Consolidated Statement of Operations for the year ended December 31, 2023 (unaudited) Report on Form 8-K, including intentions, beliefs, expectations or projections relating to items such as the long-term performance of the Company's portfolio are forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Such statements are based on current expectations and assumptions with respect to, among other things, future economic, competitive and market conditions, and future business decisions that may prove incorrect or inaccurate. Important factors that could cause actual results to differ materially from those in the forward-looking statements include the risks described under the heading "Risk Factors" in the Company's Annual Report on Form 10-K filed with the SEC on March 12, 2024 and its other filings with the SEC. (c) Exhibit No. Description 23.1 Consent of RSM US LLP Independent Auditor's Report Partners of Amira JV LP and Subsidiary Opinion W
financial statements (collectively, the "financial statements")
financial statements (collectively, the "financial statements"). In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as of December 31, 2023, and the results of their operations and their cash flows for the year then ended in accordance with accounting principles generally accepted in the United States of America. Basis for Opinion We conducted our audit in accordance with auditing standards generally accepted in the United States of America (GAAS). Our responsibilities under those standards are further described in the Auditor's Responsibilities for the Audit of the Financial Statements section of our report. We are required to be independent of the Company and to meet our other ethical responsibilities, in accordance with the relevant ethical requirements relating to our audit. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our audit opinion. Responsibilities of Management for the Financial Management is responsible for the preparation and fair presentation of the financial statements in accordance with accounting principles generally accepted in the United States of America, and for the design, implementation, and maintenance of internal control relevant to the preparation and fair presentation of
financial statements that are free from material misstatement, whether due to fraud or error
financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is required to evaluate whether there are conditions or events, considered in the aggregate, that raise substantial doubt about the Company's ability to continue as a going concern within one year after the date that the financial statements are issued or available to be issued. Auditor's Responsibilities for the Audit of the Financial Statements Our objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditor's report that includes our opinion. Reasonable assurance is a high level of assurance but is not absolute assurance and therefore is not a guarantee that an audit conducted in accordance with GAAS will always detect a material misstatement when it exists. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control. Misstatements are considered material if there is a substantial likelihood that, individually or in the aggregate, they would influence the judgment made by a reasonable user based on the financial statements. In performing an audit in accordance with GAAS, we: Exercise professional judgment and maintain professional skepticism throughout the audit. Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, and design and perform audit procedures responsive to those risks. Such procedures include examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but n