Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 98

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 98
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 acquisition of our investments, the management of our
assets, the disposition of our assets, the financing of our assets and certain administrative services. We pay the Manager and its affiliates,
including the Dealer Manager, fees and expense reimbursements for these services, which will reduce the amount of cash available for
further investments or distribution to our stockholders.

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We will be required to pay substantial compensation to the Manager and its affiliates or related parties, regardless of whether we operate at a profit or a loss.

The Manager and its affiliates
will receive compensation, and expense reimbursements in connection with the services they provide to us as described in the Management
Agreement, regardless of whether we operate at a profit or a loss. These payments to the Manager and its affiliates or related parties
will decrease the amount of cash we have available for operations and new investments and could negatively impact our ability to pay
distributions and your overall return.

We may have difficulty completely funding our distributions with funds provided by cash flows from operating activities; therefore, we may use cash flows from financing activities, which may include borrowings and net proceeds from primary shares sold in this offering and/or of other offerings of our securities, cash resulting from a waiver or deferral of fees by the Manager or from expense support provided by the Manager, or other sources to fund distributions to our stockholders. The use of these sources to pay distributions and the ultimate repayment of any liabilities incurred could adversely impact our ability to pay distributions in future periods, decrease the amount of cash we have available for operations and new investments and/or potentially impact the value or result in dilution of your investment by creating future liabilities, reducing the return on your investment or otherwise.

Until the proceeds from this
offering are fully invested, and from time to time thereafter, we may not generate sufficient cash flows from operating activities, as
determined on a GAAP basis, to fully fund distributions to you. To date, we have funded, and expect to continue to fund, distributions
to our stockholders, with cash flows from financing activities, which may include borrowings and net proceeds from shares sold in this
offering and/or of other offerings of our securities, cash resulting from a waiver or deferral of fees or expense reimbursements otherwise
payable to the Manager or its affiliates, cash resulting from the Manager or its affiliates paying certain of our expenses, proceeds
from the sales of assets, or from our cash balances. Our charter does not prohibit our use of such