Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 180

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 180
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 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 growth
markets of the Sunbelt and Western United States. The Company’s principal objective is to generate attractive risk-adjusted returns
on investments where it believes it can drive growth in funds from operations and net asset value by acquiring residential units, developing
residential communities, and through Value-Add renovations. The Company’s 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 the Company’s return on
investment.

As
of December 31, 2024, the Company 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 1,634 units through preferred equity and loan investments,
which includes planned units and those under development. As of December 31, 2024, the Company’s consolidated operating investments
were approximately 91.6% occupied; excluding units classified as held for sale and down/renovation units, the Company’s consolidated
operating investments were approximately 94.0% occupied.

The
Company has elected to be treated, and currently qualifies, as a real estate investment trust (“REIT”) for federal income
tax purposes. As a REIT, the Company generally is not subject to corporate-level income taxes. To maintain its REIT status, the Company
is required, among other requirements, to distribute annually at least 90% of its “REIT taxable income,” as defined by the
Internal Revenue Code of 1986, as amended (the “Code”), to the Company’s stockholders. If the Company fails to qualify
as a REIT in any taxable year, it would be subject to federal income tax on its taxable income at regular corporate tax rates and it would
not be permitted to qualify as a REIT for four years following the year in which it lost its qualification. The Company intends to continue
to organize and operate in such a manner as to remain qualified as a REIT.

**Note 2 –
Basis of Presentation and Summary of Significant Accounting Policies

Principles of Consolidation and Basis of Presentation**

The
Company conducts its operations through Bluer