Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 237

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 237
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 | 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 programs sponsored by affiliates of our Manager will result in conflicts of interest. See “Risk Factors — Risks Related
to our Management and Relationships with our Manager.”

We will establish the terms
with respect to any particular joint venture agreement on a case-by-case basis after our board of directors considers all of the facts
that are relevant, such as the nature and attributes of our other potential joint venture partners, the proposed structure of the joint
venture, the nature of the operations, the liabilities and assets associated with the proposed joint venture and the size of our interest
when compared to the interests owned by other partners in the venture. With respect to any joint venture investment, we expect to consider
the following:

| · | Our                                                                                                                                   
 ability to manage and control the joint venture. We will seek to obtain certain approval rights in joint ventures we do not control.  
 For proposed joint ventures in which we are to share control with another entity, we will consider procedures to address decisions in 
 the event of an impasse.                                                                                                              |

| · | Our                                                                                                                                  
 ability to exit a joint venture. We will consider requiring buy/sell rights, redemption rights or forced liquidation rights to allow 
 us to control the timing of our exit.                                                                                                |

| · | Our                                                                                                                                    
 ability to control transfers of interests held by other partners to the venture. We will consider requiring consent provisions, rights 
 of first refusal, and or forced redemption rights in connection with transfers.                                                        |

Investments in Real Estate Mortgages

Although we have no current
intention of doing so, we may, at the discretion of our board of directors, invest in mortgages and other types of real estate interests