Company: BHM
Filing Date: 2025-05-09
Form Type: 424B3
Source: 0001104659-25-046667
Chunk: 59

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-05-09
Form: 424B3
Chunk 59
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Table of Contents

### PART II -
OTHER INFORMATION

#### Item 1. Legal
Proceedings

None.

#### Item 1A. Risk
Factors

Other
than the following, there have been no material changes to our potential risks and uncertainties as presented in the section titled “Risk
Factors” in our Annual Report on Form 10-K for the year ended December 31, 2024 as filed with the SEC on March 20, 2025.

Your interests could be subordinated and/or diluted by the incurrence of additional debt, the issuance of additional shares of preferred stock, including additional shares of Series A Preferred Stock, and by other transactions.

As
of March 31, 2025, our total indebtedness was approximately $343.9 million, which includes $85.0 million outstanding under our revolving
credit facilities. We may incur significant additional debt in the future. The Series A Preferred Stock is subordinate to all our existing
and future debt and liabilities and those of our subsidiaries. Our future debt may include restrictions on our ability to pay dividends
to preferred stockholders in the event of a default under the debt facilities or under other circumstances. In addition, our charter currently
authorizes the issuance of up to 250,000,000 shares of preferred stock in one or more classes or series, of which 30,000,000 have been
classified as shares of Series A Preferred Stock. As of March 31, 2025, we had issued and outstanding 5,278,493 shares of Series A Preferred
Stock. The issuance of additional preferred stock on parity with or senior to the Series A Preferred Stock or any other class or series
of preferred stock would dilute the interests of the holders of shares of preferred stock of the applicable class or series, and any issuance
of preferred stock senior to the Series A Preferred Stock or any other class or series of preferred stock, or any issuance of additional
indebtedness, could affect our ability to pay dividends on, redeem or pay the liquidation preference on any or all of the foregoing class
or series of preferred stock. We may issue preferred stock on parity with the Series A Preferred Stock without the consent of the holders
of the Series A Preferred Stock. Other than the right of holders to cause us to redeem the Series A Preferred Stock upon a change of control,
none of the provisions relating to the Series A Preferred Stock or any other class or series of preferred stock relate