Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 17

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 17
---
 of our business and growth strategies. Our Manager has substantial discretion
with respect to the selection of specific investments consistent with our investment objectives and strategy, subject to our investment
guidelines.

Our Manager will be able to
draw upon the experience, expertise, and relationships of Bluerock’s senior executives, and its team of over 150 professionals and
support personnel, which will provide asset management, portfolio management, finance, administration, legal, compliance, investor relations,
asset valuation, risk management, information technology and other operational matters in connection with the performance of our Manager’s
duties. We expect to benefit from the personnel of Bluerock and the relationships and experience of Bluerock’s management team in
order to create value for our stockholders.

We believe the Management
Agreement provides significant benefits to our stockholders. Our company is not burdened by the high expenses associated with employing
our own management team and infrastructure, and instead will rely on our Manager to provide these services in exchange for management
fees, which we believe are lower than we would otherwise have to incur for these services if we were internally managed. In addition,
our Management Agreement provides us access to a team of executive, management, investment, capital markets and administrative personnel
that we believe, given our size and stage of development, is likely to be more capable and diverse than we would otherwise be able to
attract at this stage of our life cycle.

<div align='center'>10</div>

Upon the determination by
at least two-thirds of our independent directors that, upon an internalization of our management, AFFO (as defined below) per share would
be greater than AFFO per share immediately prior to such internalization, we may internalize, with consideration upon such internalization
being paid by us to our Manager (the “Internalization Consideration”) as described herein. No assurance can be given that
the internalization of our Manager will be achieved.

Pursuant to the Management
Agreement, we will pay our Manager and its affiliates fees and reimburse certain expenses for services rendered to us. The 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