Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 225

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 225
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recognized real estate private and
public company platforms, including the successful seeding, public listing and operation of Bluerock Residential. Bluerock has over $15 billion
in acquired and managed assets.

Management Agreement

We, the Operating Partnership
and our Manager are parties to a Management Agreement (the “Management Agreement”). In connection with the execution of the
Merger Agreement, the Bluerock Residential board of directors received an opinion from Robert A. Stanger & Company, Inc.
that the terms of the Management Agreement are fair, from a financial point of view, to the company, and after consideration of this
opinion and other documents and presentations, the non-management directors authorized the company to enter into the Management Agreement.
The Management Agreement requires our Manager to manage our business affairs in conformity with our investment guidelines and other policies
that are approved and monitored by our board of directors. Our Manager’s role as Manager is under the supervision and direction
of our board of directors. Our Manager will not manage or advise any other entities and will not actively seek new management or advisory
clients, although it will not be prohibited from doing so by the Management Agreement.

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Management Services

Our Manager is responsible
for, among other things, (i) the selection, purchase and sale of our portfolio investments, (ii) our financing activities,
and (iii) providing us with advisory services. Our Manager is responsible for our day-to-day operations and will perform (or will
cause to be performed) such services and activities relating to our investments and operations as may be appropriate, which may include,
without limitation, the following:

| · | serving as our consultant                                                                                                             
 with respect to the periodic review of the investment guidelines and other parameters for our investments, financing activities and   
 operations, any modification to which will be approved by the board of directors (including a majority of the independent directors); |

| · | investigating, analyzing,                                                                                                            
 and selecting possible investment opportunities and acquiring, financing, retaining, selling, restructuring, exchanging or disposing 
 of investments consistent with our investment guidelines;                                                                            |

| · | with respect to prospective                                                                                                         
 investment transactions and financing transactions, conducting negotiations (including negotiation of definitive agreements) on our 
 behalf with sellers, purchasers, and brokers and, if applicable, their respective agents and representatives;                       |

| · | effecting any private placement                                                                                                  
 of interest in the Operating Partnership, tenancy-in-common or other interests in investments as may be approved by the board