Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 139

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 139
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-quality of life growth markets of the Sunbelt and Western United States. Our principal objective is
to generate attractive risk-adjusted returns on investments where we believe we can drive growth in funds from operations and net asset
value by acquiring residential units, developing residential communities, and through Value-Add renovations. Our Value-Add strategy focuses
on repositioning lower-quality, less current assets to drive rent growth and expand margins to increase net operating income and maximize
our return on investment.

We
have no employees and are supported by a related-party service agreement with the Manager (the “Management Agreement”). We
are externally managed by the Manager, which manages our day-to-day operations under the Management Agreement. The current term of the
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.

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/renovation units, our consolidated operating investments were approximately 94.0%
occupied.

We
have elected to be treated, and currently qualify, as a real estate investment trust (“REIT”) for federal income tax purposes.
As a REIT, we generally are not subject to corporate-level income taxes. To maintain our REIT status, we are required, among other requirements,
to distribute annually at least 90% of our “REIT taxable income,” as defined by the Internal Revenue Code of 1986, as amended
(the “Code”), to our stockholders. If we fail to qualify as a REIT in any taxable year, we would be subject to federal income
tax on our taxable income at regular corporate tax rates