Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 194

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 194
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 of operations in the future may be directly or indirectly affected by uncertainties such as the effects of inflation
and related volatility in the market. As inflation accelerated rapidly in the first half of 2023, the Federal Reserve increased interest
rates a total of four times during 2023 to curb the effects of rising inflation. While the Federal Reserve held rates steady between July
2023 and September 2024, then reduced interest rates by 50-basis points in September 2024, and another 25-basis point reduction in each
of November and December 2024, there can be no assurances that interest rates will not rise again, and the Company’s operating costs,
including utilities and payroll, may increase as a result of increases in inflation. Rising interest rates cause uncertainty in credit
and capital markets which could have material and adverse effects on the Company’s financial condition, results of operations and
cash flows. In addition, any tariffs imposed by the current administration or other countries may cause further inflationary pressures
in the economy. The long-term impact of these economic developments will largely depend on any future action by the Federal Reserve, future
laws that may be enacted, the impact on job growth and the broader economy, and reactions by consumers, companies, governmental entities
and capital markets. The Company continues to closely monitor the impact of economic volatility on all aspects of its business.

#### Note 3 –
Acquisition of Real Estate

Acquisition of Additional Savannah-84 units

On
February 23, 2023, the Company acquired 18 single-family residential units located in Savannah, Georgia that were added to the existing
Savannah-84 portfolio. The Company has a 100% interest in the units and the purchase price of approximately $4.2 million was fully funded
in cash upon acquisition.

Development of Abode Wendell Falls

In
December 2023, the Company made a commitment to fund the total estimated project costs of $56.9 million for the construction of Abode
Wendell Falls, a 170-unit build-to-rent development project in Wendell, North Carolina. The Abode Wendell Falls development project commenced
construction in 2024, and the Company classifies the Abode Wendell Falls development project as a consolidated investment.

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Table of Contents

Acquisition of Villas at Huffmeister

On
March 25, 2024, the Company, through a 95% owned joint venture entity