Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 127

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 127
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ock,” and we refer to our external manager, Bluerock Homes Manager, LLC, a Delaware limited liability company organized in 2022, as our “Manager.” Both Bluerock and our Manager are affiliated with us. This Management’s Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements. The matters discussed in these forward-looking statements are subject to risk, uncertainties and other factors that could cause actual results to differ materially from those made, projected or implied in the forward-looking statements. Please refer to the sections entitled “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” herein for a discussion of the uncertainties, risks and assumptions associated with these statements.

Overview

We were incorporated as a
Maryland corporation on December 16, 2021. We own and operate a portfolio of institutional residential properties including single-family
homes, build-to-rent communities, and other residential communities located in attractive markets with a focus on the knowledge-economy
and high quality of life (“Knowledge/Quality”) growth markets of the Sunbelt and Western United States. Our principal objective
is to generate attractive risk-adjusted returns on investments where we believe we can drive growth in funds from operations and net
asset value by acquiring residential units, developing residential communities, and through Value-Add renovations. Our Value-Add strategy
focuses on repositioning lower-quality, less current assets to drive rent growth and expand margins to increase net operating income
and maximize our return on investment.

We have no employees
and are supported by a related-party service agreement with the Manager (the “Management Agreement”). We are externally managed
by the Manager, which manages our day-to-day operations under the Management Agreement. The current term of the Management Agreement
expires October 6, 2025 and will be automatically renewed for a one-year term each year on October 6, unless previously terminated
in accordance with the terms of the Management Agreement. The Manager is responsible for managing our affairs on a day-to-day basis and
for identifying and making real estate investments on our behalf. Substantially all our business is conducted through our Operating Partnership,
of which we are the sole general partner.

As of December 31, 2024,
we held twenty-three real estate investments, consisting of fourteen consolidated investments and nine preferred equity and loan investments.
The twenty-three investments represent an aggregate of 5,087 residential units, comprised of 3,453 consolidated units, of which 170 units
are under development, and