Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 137

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 137
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 discussion and analysis should be read in conjunction with the accompanying financial statements, and the notes thereto. As used herein, the terms “we,” “our” and “us” refer to Bluerock Homes Trust, Inc., a Maryland corporation, and, as required by context, Bluerock Residential Holdings, L.P., a Delaware limited partnership, which we refer to as our “Operating Partnership,” and to their subsidiaries. We refer to Bluerock Real Estate, L.L.C., a Delaware limited liability company, together with its affiliates, as “Bluerock,” and we refer to our external manager, Bluerock Homes Manager, LLC, a Delaware limited liability company organized in 2022, as our “Manager.” Both Bluerock and our Manager are affiliated with us. This Management’s Discussion and Analysis of Financial Condition and Results of Operations contains forward-looking statements. The matters discussed in these forward-looking statements are subject to risk, uncertainties and other factors that could cause actual results to differ materially from those made, projected or implied in the forward-looking statements. Please refer to the sections entitled “Risk Factors” and “Cautionary Statement Concerning Forward-Looking Statements” herein for a discussion of the uncertainties, risks and assumptions associated with these statements.

Overview

We were incorporated as a
Maryland corporation on December 16, 2021. We own and operate 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 (“Knowledge/Quality”) growth markets of the Sunbelt and Western United States. Our principal objective
is to generate attractive risk-adjusted returns on investments where we believe we can drive growth in funds from operations and net
asset value by acquiring residential units, developing residential communities, and through Value-Add renovations. Our 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 our return on investment.

We
have no employees and are supported by a related-party service agreement with the Manager (the “Management Agreement”). We
are externally managed by the Manager, which manages our day-to-day operations under the Management Agreement. The current term of the
Management Agreement expires October 6, 2026 and will be automatically renewed for a one-year term each year on October 6,
unless previously terminated in accordance with the terms of the Management Agreement. The Manager