Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 18

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 18
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 most significant
items of compensation and reimbursement are outlined in “—Compensation to Our Manager,” below. For a more complete
explanation of the fees and expenses, see “Our Manager and Related Agreements.”

Conflicts of Interest

Our officers and directors,
and the owners and officers of our Manager and its affiliates are involved in, and will continue to be involved in, the ownership and
advising of other real estate entities and programs, including those sponsored by Bluerock or in which Bluerock is a manager or participant.
These pre-existing interests, and similar additional interests as may arise in the future, may give rise to conflicts of interest with
respect to our business, our investments and our investment opportunities. In particular, but without limitation:

| · | Our Manager,                                                                                                                        
 its officers and their respective affiliates will face conflicts of interest relating to the purchase and leasing of real estate    
 investments, and such conflicts may not be resolved in our favor. This could limit our investment opportunities, impair our ability 
 to make distributions and reduce the value of your investment in us.                                                                |

| · | If we acquire                                                                                                                          
 properties from entities owned or sponsored by affiliates of our Manager, the price may be higher than we would pay if the transaction 
 was the result of arm’s-length negotiations with a third party.                                                                        |

| · | Our Manager                                                                                                                       
 will have considerable discretion with respect to the terms and timing of our acquisition, disposition and leasing transactions.  
 The incentive fee payable by us to our Manager is determined based on AFFO, which may create an incentive for our Manager to make 
 investments that are risky or more speculative than would otherwise be in our best interests.                                     |

| · | Our Manager                                                                                                                           
 and its affiliates, including our officers, some of whom are also our directors, face conflicts of interest caused by their ownership 
 of our Manager and their roles with other programs, which could result in actions that are not in the long-term best interests of     
 our stockholders.                                                                                                                     |

| · | If the competing                                                                                                                            
 demands for the time of our Manager, its affiliates and our officers result in them spending insufficient time on our business, we          
 may miss investment opportunities or have less efficient operations, which could reduce our profitability and result in lower distributions 
 to you.                                                                                                                                     |

We do not have a policy that
expressly restricts any of our directors, officers, stockholders or affiliates, including our Manager and its officers and employees,
from having a pecuniary