Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 40

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 40
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 to organize and operate in such a manner as to remain qualified as a REIT.

Unless
otherwise indicated or the context requires otherwise, all references to “the Company,” “we,” “us”
and “our” mean Bluerock Homes Trust, Inc., a Maryland corporation, together with its consolidated subsidiaries, including,
without limitation, Bluerock Residential Holdings, L.P., a Delaware limited partnership (our “Operating Partnership”),
of which we are the sole general partner. References to our shares of Class A common stock on a “fully diluted basis”
includes all outstanding shares of our Class A common stock, shares of our Class C common stock, units of limited partnership
interest in our Operating Partnership (“OP Units”), and long-term incentive plan units in our Operating Partnership, (“LTIP
Units”), whether vested or unvested.

We
have no employees and are supported by a related-party service agreement with Bluerock Homes Manager, LLC (the “Manager”),
a Delaware limited liability company organized in 2022. We are externally managed by the Manager, which manages our day-to-day operations
under a Management Agreement (the “Management Agreement”). The current term of our Management Agreement expires October 6,
2025 and will be automatically renewed for a one-year term each year on October 6, unless previously terminated in accordance with the
terms of the Management Agreement. The Manager is responsible for managing our affairs on a day-to-day basis and for identifying and making
real estate investments on our behalf. Substantially all our business is conducted through our Operating Partnership, of which we are
the sole general partner.

The
principal executive offices of our Company and the Manager are located at 919 Third Avenue, 40
Floor, New York, New York 10022. Our telephone number is (212) 843-1601.

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Table of Contents

Investments in Real Estate As of December 31, 2024, we held twenty-three real estate investments, consisting of fourteen consolidated investments and nine preferred equity and loan investments. The twenty-three investments represent an aggregate of 5,087 residential units, comprised of 3,453 consolidated units, of which 170 units are under development, and 1,634 units through preferred equity and loan investments, which includes planned units and those under development. As of December 31, 2024, our consolidated operating investments were approximately 91.6% occupied; excluding units classified as held for sale and down