Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 246

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 246
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 determine the optimal time to
sell the asset in order to maximize stockholder value and returns. Periodic reviews of each asset will focus on the remaining available
value creation opportunities for the asset and the demand for the asset in the marketplace.

Economic and market conditions
may influence us to hold our investments for different periods of time. We may sell an asset before the end of the expected holding period
if we believe that market conditions and asset positioning have maximized its value to us or the sale of the asset would otherwise be
in the best interests of our stockholders. Due to restrictions placed on dealer sales by REITs, we may, depending on the facts and circumstances,
need to make such sales through a TRS.

Joint Ventures

We also may participate with
third parties in property ownership and development, through joint ventures, partnerships or other types of co-ownership. These types
of investments may permit us to own interests in larger assets without unduly decreasing our diversification and, therefore, provide
us with flexibility in structuring our portfolio. We will not, however, enter into a joint venture or other partnership arrangement to
make an investment that would not otherwise meet our investment policies.

We may enter into joint ventures,
partnerships, tenant-in-common investments, other co-ownership arrangements with real estate developers, owners and other third parties,
including affiliates of our Manager, for the acquisition, development, improvement and operation of properties. A joint venture creates
an alignment of interest with a private source of capital for the benefit of our stockholders, by leveraging our acquisition, development
and management expertise in order to achieve one or more of the following four primary objectives:

| · | increase the return on our invested capital; |

| · | diversify our access to equity capital; |

| · | broaden our invested capital                                                          
 into additional projects in order to promote our brand and increase market share; and |

| · | obtain the participation of sophisticated partners 
 in our real estate decisions.                      |

In determining whether to
invest in a particular joint venture, our Manager will evaluate the investment that such joint venture owns or is being formed to own
under the same criteria described elsewhere in this prospectus for our selection of real property investments.

In the event that any joint
venture with an entity affiliated with our Manager holds interests in more than one property or other investment, the interest in each
may be specially allocated based upon the respective proportion of funds invested by each co-venturer. Entering into joint ventures with
other