Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 75

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 75
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 and will not approve each investment and financing decision made by our Manager unless required by our investment guidelines.

Our Manager will be authorized
to follow very broad investment guidelines established by our board of directors. Our board of directors will periodically review our
investment guidelines and our portfolio of assets but will not, and will not be required to, review all of our proposed investments, except
in limited circumstances as set forth in our investment guidelines. In addition, in conducting periodic reviews, our board of directors
may rely primarily on information provided to it by our Manager. Furthermore, transactions entered into by our Manager may be costly,
difficult or impossible to unwind by the time they are reviewed by our board of directors. Our Manager will have great latitude within
the broad parameters of our investment guidelines in determining the types and amounts of assets in which to invest on our behalf, including
making investments that may result in returns that are substantially below expectations or result in losses, which would materially and
adversely affect our business and results of operations, or may otherwise not be in the best interests of our stockholders.

The Management Agreement with our Manager was not negotiated on an arm’s-length basis and may not be as favorable to us as if it had been negotiated with an unaffiliated third party.

Our executive officers, including
one of our five directors, are executives of our Manager or its affiliates. Although the Bluerock Residential board of directors received
an opinion from Robert A. Stanger & Company, Inc. that the terms of the Management Agreement are fair, from a financial
point of view, to us, and after consideration of this opinion and other documents and presentations, the non-management directors authorized
us to enter into the Management Agreement, the Management Agreement was negotiated between related parties and its terms, including fees
payable to our Manager, may not be as favorable to us as if it had been negotiated with an unaffiliated third party. In addition, we may
choose not to enforce, or to enforce less vigorously, our rights under the Management Agreement because of our desire to maintain our
ongoing relationship with Bluerock and its affiliates.

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We may have conflicts of interest with our Manager and other affiliates, which could result in investment decisions that are not in the best interests of our stockholders.

There will be numerous conflicts
of interest between our interests and the interests of our Manager, Bluerock and their respective affiliates, including conflicts arising
out of allocation of personnel to our activities