Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 245

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 245
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 investment merely because it does not
fit within our targeted asset class or portfolio composition. We may purchase or invest in any type of real estate that we determine
is in the best interest of our stockholders, subject to the provisions of our charter which limit certain types of investments.

We believe the probability
of meeting our investment objectives will be maximized through the careful selection and underwriting of assets. When considering an
investment, we will generally evaluate the following:

| · | the performance and risk characteristics of that investment; |

| · | how that investment will fit within our target portfolio 
 objectives; and                                          |

| · | the expected returns of that investment on a risk-adjusted 
 basis, relative to other investment alternatives.          |

As such, our actual portfolio
composition may vary substantially from the target portfolio described in this prospectus.

Equity investments in contributed
or acquired properties may be subject to existing mortgage financing and other indebtedness or to new indebtedness we incur when we acquire
or refinance these investments. Debt service on such financing or indebtedness will have a priority over any distributions with respect
to our common stock. We do not place any limitations on (i) the number or amount of mortgages which may be placed on any one piece
of property or (ii) the amount or percentage of assets that will be invested in any specific property, subject to our policy not
to be treated as an investment company under the Investment Company Act.

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At times, we may invest in
unimproved properties. We will consider a property to be an unimproved property if it was not acquired for the purpose of producing rental
or other operating income, has no development or construction in process at the time of acquisition, and no development or construction
is planned to commence within one year of the acquisition.

Purchase and Sale of Investments

Our policy is to acquire
assets primarily for generation of current income and long-term value appreciation. We intend to hold our properties for an extended
period, and in consideration of the optimal period to enable us to, as appropriate, capitalize on the potential for increased income
and capital appreciation. The period that we will hold our investments will vary depending on the type of asset, interest rates and other
factors.

Our Manager will develop
a well-defined exit strategy for each investment. Our Manager will continually re-evaluate the exit strategy of each asset in response
to the performance of the individual asset, market conditions and our overall portfolio objectives, to