Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 35

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 35
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 markets.
We base a substantial part of our business plan on our belief that property values and operating fundamentals for residential properties
in our markets will continue to improve over the near to intermediate term. However, these markets have experienced substantial economic
downturns in recent years and could experience similar or worse economic downturns in the future. Additionally, a significant outbreak
of infectious disease in the human population or pandemic may result in a widespread health crisis adversely affecting the economies and
financial markets of many countries, resulting in an economic downturn that could negatively affect our business, results of operations,
and financial condition. See “—Our business, results of operations, financial condition, and cash flows may be adversely affected
by pandemics and outbreaks of infectious disease, which may include COVID-19.” We can provide no assurance as to the extent property
values and operating fundamentals in these markets will improve, if at all. If the recent economic downturn in these markets returns or
if we fail to accurately predict the timing of economic improvement in these markets, the value of our properties could decline and our
ability to execute our business plan may be adversely affected to a greater extent than if we owned a real estate portfolio that was more
geographically diversified, which could adversely affect our financial condition, operating results, and ability to make distributions
to our stockholders and cause the value of our Series A Redeemable Preferred Stock or Class A common stock to decline.

We may not be able to effectively control the timing and costs relating to the renovation and maintenance of our properties, which may adversely affect our operating results and ability to make distributions to our stockholders.

Our properties may require
some level of renovation either immediately upon their acquisition or in the future following expiration of a lease or otherwise. We may
acquire properties that we plan to extensively renovate. We may also acquire properties that we expect to be in good condition only to
discover unforeseen defects and problems that require extensive renovation and capital expenditures. To the extent properties are leased
to existing residents, renovations may be postponed until the resident vacates the premises, and we will pay the costs of renovating.
In addition, from time to time, we may perform ongoing maintenance or make ongoing capital improvements and replacements and perform significant
renovations and repairs that resident deposits and insurance may not cover. Because our portfolio consists of geographically dispersed
properties, our ability to adequately monitor or manage any such renovations or maintenance may be more limited or subject to greater
inefficiencies than if our properties were more