Company: BHM
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001104659-25-046667
Chunk: 38

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 38
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and financial condition are unknown at this time. Inflation may also cause increased volatility in financial markets, which could affect
our ability to access the capital markets or impact the cost or timing at which we are able to do so. Inflation may also increase the
costs to complete our development projects, including costs of materials, labor and services from third-party contractors and suppliers.
Higher construction costs could adversely impact our investments in real estate assets and our expected yields on development projects.

Additionally,
developments in the banking industry in early 2023 caused uncertainty and concern regarding the strength of the banking system. As a result,
the cost of obtaining debt from credit and capital markets increased as many lenders increased interest rates, enacted tighter lending
standards, and reduced and, in some cases, ceased to provide funding to borrowers. Although our banking relationships are primarily with
large national banks, a significant disruption to the banking system could lead to market-wide liquidity problems which could adversely
affect our access to capital and our cost of capital. If we need to incur debt from a source other than our revolving credit facilities,
we cannot be certain the additional financing will be available to the extent required and on acceptable terms. If debt financing on acceptable
terms is not available, we may be unable to fully execute our growth strategy, otherwise take advantage of business opportunities, or
respond to competitive pressures, any of which could have a material adverse effect on our results of operations and financial condition.

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Other
weakened economic conditions, including job losses, high unemployment levels, stock market volatility, and uncertainty about the future,
could adversely affect rental rates and occupancy levels. In addition, any tariffs imposed by the current administration or other countries
may cause further inflationary pressures in the economy, uncertainty and volatility of debt and equity markets, and a slowdown in the
U.S. and global economies. The announced tariffs are likely to increase construction costs and further reduce already constrained new
supply starts, which could adversely impact the timing of actual completion and/or stabilization of our build - to - rent communities,
including potential delays due to supply shortages and labor shortages. Any of these factors could depress economic activity and have
a material adverse effect on our business, financial condition, cash flows, and our results of operations.

#### Other Significant Developments
Investment Activity Summary

Provided
below is a summary of our investment activity during the three months ended March 31, 2025.

Sale of Consolidated Operating