Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 138

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 138
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 of 1933, as amended, in our Quarterly Report on Form 10-Q as filed with the Securities and Exchange Commission (the
“SEC”) on November 9, 2023, and on Form 8-K filed with the SEC on January 5, 2023, February 23, 2023, May 19, 2023, May 26,
2023, August 16, 2023, November 15, 2023, January 10, 2024, February 23, 2024, April 5, 2024, May 2, 2024, May 15, 2024, August 12, 2024
and November 13, 2024.

Item 6. [Reserved]

Item 7. Management’s Discussion and Analysis of Financial Condition and Results of Operations

The
following discussion and analysis should be read in conjunction with the accompanying consolidated financial statements of Bluerock Homes
Trust, Inc., and the notes thereto. As used herein, the terms “we,” “our” and “us” refer to Bluerock
Homes Trust, Inc., a Maryland corporation, and, as required by context, Bluerock Residential Holdings, L.P., a Delaware limited partnership,
which we refer to as our “Operating Partnership,” and to their subsidiaries. We refer to Bluerock Real Estate, L.L.C., a Delaware
limited liability company, and its affiliate, Bluerock Real Estate Holdings, LLC, a Delaware limited liability company, together as “BRE,”
and we refer to our external manager, Bluerock Homes Manager, LLC, a Delaware limited liability company organized in 2022, as our “Manager.”
Both BRE 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.
See also “Forward-Looking Statements” preceding Part I.

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Table of Contents

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