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<P STYLE="margin: 0">&nbsp;</P>

<!-- Field: Rule-Page --><DIV ALIGN="LEFT" STYLE="margin-top: 12pt; margin-bottom: 3pt"><DIV STYLE="font-size: 1pt; border-top: Black 2pt solid; border-bottom: Black 1pt solid; width: 100%">&nbsp;</DIV></DIV><!-- Field: /Rule-Page -->

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center; text-indent: 0.5in">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>UNITED
STATES</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>SECURITIES
AND EXCHANGE COMMISSION</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Washington, D.C. 20549</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>FORM 8-K</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>&nbsp;</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><FONT STYLE="font-size: 12pt"><B>CURRENT
REPORT</B></FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; text-align: center; margin-bottom: 0pt"><FONT STYLE="text-transform: uppercase"><B>Pursuant
to Section 13 or 15(</B></FONT><B>d<FONT STYLE="text-transform: uppercase">) of the Securities Exchange Act of 1934</FONT></B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Date of Report (Date of earliest event
reported): September 26, 2012</B></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%; font-size: 12pt; font-weight: bold; text-align: center"><FONT STYLE="font-size: 12pt"><B>Bluerock
    Enhanced Multifamily Trust, Inc.</B></FONT></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Exact Name of Registrant as Specified in Its Charter)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 38%; font-size: 10pt; font-weight: bold; text-align: center">Maryland</TD>
    <TD STYLE="width: 2%; font-size: 10pt; font-weight: bold; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 26%; font-size: 10pt; font-weight: bold; text-align: center">333-153135</TD>
    <TD STYLE="width: 2%; font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD STYLE="width: 32%; font-size: 10pt; font-weight: bold; text-align: center">26-3136483</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(State or other jurisdiction of incorporation<BR>
or organization)</TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt; text-align: center">(Commission File Number)</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P></TD>
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD>
    <TD>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">(I.R.S. Employer</P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">Identification No.)</P></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 100%">
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>Heron Tower, 70 East 55th Street, 9th
        Floor</B></P>
        <P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center"><B>New York, NY 10022</B></P></TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Address of principal executive offices)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; font-weight: bold; text-align: center">(212) 843-1601</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Registrant&rsquo;s telephone number, including area code)</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-weight: bold; text-align: center">None</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt; text-align: center">(Former name or former address, if changed since last report)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<TD STYLE="width: 0in"></TD><TD STYLE="width: 0.5in; text-align: left"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD STYLE="text-align: justify">Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)</TD>
</TR></TABLE>

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<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0 0pt 0.5in; text-indent: -0.5in">&nbsp;</P>

<TABLE CELLPADDING="0" CELLSPACING="0" WIDTH="100%" STYLE="font: 10pt Times New Roman, Times, Serif; margin-top: 0pt; margin-bottom: 0pt"><TR STYLE="vertical-align: top">
<TD STYLE="width: 0"></TD><TD STYLE="width: 0.5in"><FONT STYLE="font-family: Wingdings">&uml;</FONT></TD><TD>Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))</TD></TR></TABLE>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-indent: 0in">&nbsp;&nbsp;</P>

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<TR STYLE="vertical-align: top">
    <TD STYLE="width: 15%; font-size: 10pt; font-weight: bold"><B>ITEM 8.01</B></TD>
    <TD STYLE="width: 85%; font-size: 10pt; font-weight: bold"><B>AMENDMENT OF REGISTRANT&rsquo;S ADVISORY AGREEMENT</B></TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">On September 26, 2012, Bluerock Enhanced
Multifamily Trust, Inc. (the &ldquo;Company&rdquo;) and the Company&rsquo;s advisor, Bluerock Enhanced Multifamily Advisor, LLC
(the &ldquo;Advisor&rdquo;), agreed to amend the Amended and Restated Advisory Agreement (the &ldquo;Advisory Agreement&rdquo;)
pursuant to a resolution approved by the Company&rsquo;s Board of Directors, including its independent directors.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Under the amended Advisory Agreement, the
monthly asset management fee which the Company pays the Advisor is reduced from one-twelfth of 1% of the higher of the cost or
the value of each asset, to one-twelfth of 0.65% of the higher of the cost or the value of each asset. Further, under the amended
Advisory Agreement, the acquisition fee the Company pays to the Advisor for services in connection with the selection, due diligence
and acquisition of a property or investment, is increased to 2.50% from 1.75% of the purchase price.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Beginning September 26, 2012, the Company
will pay the Advisor a monthly asset management fee for day-to-day management of the Company&rsquo;s assets and operations, which
equals one-twelfth of 0.65% of the higher of the cost or the value of each asset, where (A) cost equals the aggregate amount actually
paid, excluding acquisition fees and expenses, to purchase each asset the Company acquires, including any debt attributable to
the asset (including debt encumbering the asset after its acquisition), provided that, with respect to any properties the Company
develops, constructs or improves, cost will include the amount expended by the Company for the development, construction or improvement,
and (B) the value of an asset is the fair market value established by the most recent independent valuation report, if available,
without reduction for depreciation, bad debts or other non-cash reserves; provided, however, that 50% of the Advisor&rsquo;s asset
management fee will not be payable until stockholders have received distributions in an amount equal to at least a 6% per annum
cumulative, non-compounded return on invested capital, at which time all such amounts will become due and payable. For these purposes,
&ldquo;invested capital&rdquo; means the original issue price paid for the shares of the Company&rsquo;s common stock reduced by
prior distributions identified as special distributions from the sale or financing of the Company&rsquo;s assets. The asset management
fee will be based only on the portion of the cost or value attributable to the Company&rsquo;s investment in an asset if the Company
does not own all of an asset.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">Beginning September 26, 2012, the acquisition
fee the Company pays to the Advisor for its services in connection with the selection, sourcing, investigation, due diligence and
acquisition of a property or investment will be 2.50% of the purchase price. The purchase price of a property or investment equals
the amount paid or allocated to the purchase, development, construction or improvement of a property, inclusive of expenses related
thereto, and the amount of debt associated with such real property or investment. The purchase price allocable for a joint venture
investment equals the product of (1) the purchase price of the underlying property and (2) the Company&rsquo;s economic ownership
percentage in, or percentage of capital provided to, the joint venture. With respect to investments in and originations of loans,
the Company pays an origination fee in lieu of an acquisition fee.<FONT STYLE="color: black"> </FONT></P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">SIGNATURES</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: center">&nbsp;</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">Pursuant to the requirements of the Securities Exchange Act
of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.</P>

<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

<TABLE CELLSPACING="0" CELLPADDING="0" STYLE="font: 10pt Times New Roman, Times, Serif; width: 100%; border-collapse: collapse">
<TR STYLE="vertical-align: top">
    <TD STYLE="width: 45%; font-size: 10pt">&nbsp;</TD>
    <TD STYLE="width: 55%; font-size: 10pt">BLUEROCK ENHANCED MULTIFAMILY TRUST, INC.</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">&nbsp;</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">DATE: October 2, 2012</TD>
    <TD STYLE="border-bottom: windowtext 1pt solid; font-size: 10pt">&nbsp;&nbsp;/s/ R. Ramin Kamfar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">R. Ramin Kamfar</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">Chief Executive Officer and Chairman of the Board</TD></TR>
<TR STYLE="vertical-align: top">
    <TD STYLE="font-size: 10pt">&nbsp;</TD>
    <TD STYLE="font-size: 10pt">(Principal Executive Officer)</TD></TR>
</TABLE>
<P STYLE="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0">&nbsp;</P>

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{"company-data": {"conformed-name": "Bluerock Enhanced Multifamily Trust, Inc.", "cik": "0001442626", "assigned-sic": "6798", "irs-number": "000000000", "state-of-incorporation": "MD", "fiscal-year-end": "1231"}, "filing-values": {"form-type": "8-K", "act": "34", "file-number": "333-153135", "film-number": "121123300"}, "business-address": {"street1": "680 5TH AVENUE, 16TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10019", "phone": "(212) 843-1601"}, "mail-address": {"street1": "680 5TH AVENUE, 16TH FLOOR", "city": "NEW YORK", "state": "NY", "zip": "10019"}, "former-company": [{"former-conformed-name": "Bluerock Enhanced Multifamily REIT, Inc.", "date-changed": "20081028"}, {"former-conformed-name": "Bluerock Enhanced Residential REIT, Inc.", "date-changed": "20080811"}]}
UNITED
STATES
SECURITIES
AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT
REPORT
Pursuant
to Section 13 or 15(
d
) of the Securities Exchange Act of 1934
Date of Report (Date of earliest event
reported): September 26, 2012
Bluerock
    Enhanced Multifamily Trust, Inc.
(Exact Name of Registrant as Specified in Its Charter)
Maryland
333-153135
26-3136483
(State or other jurisdiction of incorporation
or organization)
(Commission File Number)
(I.R.S. Employer
Identification No.)
Heron Tower, 70 East 55th Street, 9th
        Floor
New York, NY 10022
(Address of principal executive offices)
(212) 843-1601
(Registrant's telephone number, including area code)
None
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended
to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:
¨
Written communications pursuant to Rule 425 under the
Securities Act (17 CFR 230.425)
¨
Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
¨
Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
¨
Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
ITEM 8.01
AMENDMENT OF REGISTRANT'S ADVISORY AGREEMENT
On September 26, 2012, Bluerock Enhanced
Multifamily Trust, Inc. (the "Company") and the Company's advisor, Bluerock Enhanced Multifamily Advisor, LLC
(the "Advisor"), agreed to amend the Amended and Restated Advisory Agreement (the "Advisory Agreement")
pursuant to a resolution approved by the Company's Board of Directors, including its independent directors.
Under the amended Advisory Agreement, the
monthly asset management fee which the Company pays the Advisor is reduced from one-twelfth of 1% of the higher of the cost or
the value of each asset, to one-twelfth of 0.65% of the higher of the cost or the value of each asset. Further, under the amended
Advisory Agreement, the acquisition fee the Company pays to the Advisor for services in connection with the selection, due diligence
and acquisition of a property or investment, is increased to 2.50% from 1.75% of the purchase price.
Beginning September 26, 2012, the Company
will pay the Advisor a monthly asset management fee for day-to-day management of the Company's assets and operations, which
equals one-twelfth of 0.65% of the higher of the cost or the value of each asset, where (A) cost equals the aggregate amount actually
paid, excluding acquisition fees and expenses, to purchase each asset the Company acquires, including any debt attributable to
the asset (including debt encumbering the asset after its acquisition), provided that, with respect to any properties the Company
develops, constructs or improves, cost will include the amount expended by the Company for the development, construction or improvement,
and (B) the value of an asset is the fair market value established by the most recent independent valuation report, if available,
without reduction for depreciation, bad debts or other non-cash reserves; provided, however, that 50% of the Advisor's asset
management fee will not be payable until stockholders have received distributions in an amount equal to at least a 6% per annum
cumulative, non-compounded return on invested capital, at which time all such amounts will become due and payable. For these purposes,
"invested capital" means the original issue price paid for the shares of the Company's common stock reduced by
prior distributions identified as special distributions from the sale or financing of the Company's assets. The asset management
fee will be based only on the portion of the cost or value attributable to the Company's investment in an asset if the Company
does not own all of an asset.
Beginning September 26, 2012, the acquisition
fee the Company pays to the Advisor for its services in connection with the selection, sourcing, investigation, due diligence and
acquisition of a property or investment will be 2.50% of the purchase price. The purchase price of a property or investment equals
the amount paid or allocated to the purchase, development, construction or improvement of a property, inclusive of expenses related
thereto, and the amount of debt associated with such real property or investment. The purchase price allocable for a joint venture
investment equals the product of (1) the purchase price of the underlying property and (2) the Company's economic ownership
percentage in, or percentage of capital provided to, the joint venture. With respect to investments in and originations of loans,
the Company pays an origination fee in lieu of an acquisition fee.
2
SIGNATURES
Pursuant to the requirements of the Securities Exchange Act
of 1934, the Company has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
BLUEROCK ENHANCED MULTIFAMILY TRUST, INC.
DATE: October 2, 2012
/s/ R. Ramin Kamfar
R. Ramin Kamfar
Chief Executive Officer and Chairman of the Board
(Principal Executive Officer)
3