Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 78

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 78
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, we may
choose not to enforce, or to enforce less vigorously, our rights under the Management Agreement because of our desire to maintain our
ongoing relationship with Bluerock and its affiliates.

We may have conflicts of interest with our Manager and other affiliates, which could result in investment decisions that are not in the best interests of our stockholders.

There will be numerous conflicts
of interest between our interests and the interests of our Manager, Bluerock and their respective affiliates, including conflicts arising
out of allocation of personnel to our activities, allocation of investment opportunities between us and investment vehicles affiliated
with Bluerock, purchase or sale of apartment properties, including from or to Bluerock or its affiliates and fee arrangements with our
Manager that might induce our Manager to make investment decisions that are not in our best interests. Examples of these potential conflicts
of interest include:

| · | Competition for the time and services of personnel that work for us and our affiliates; |

| · | Compensation payable by us to our Manager and its affiliates for their various services, which may not be on market terms and is payable, in some cases, whether or not our stockholders receive distributions; |

| · | The possibility that our Manager, its officers and their respective affiliates will face conflicts of interest relating to the purchase and leasing of properties and that such conflicts may not be resolved in our favor, thus potentially limiting our investment opportunities, impairing our ability to make distributions and adversely affecting the trading price of our stock; |

| · | The possibility that if we acquire properties from Bluerock or its affiliates, the price may be higher than we would pay if the transaction were the result of arm’s-length negotiations with a third party; |

| · | The possibility that our Manager will face conflicts of interest caused by its indirect ownership by Bluerock, some of whose officers are also our officers and one of whom is a director of ours, resulting in actions that may not be in the long-term best interests of our stockholders; |

| · | Our Manager will have considerable discretion with respect to the terms and timing of our acquisition, disposition and leasing transactions, and the Incentive Fee payable by us to our Manager will be determined based on AFFO (as defined in “Our Manager and Related Agreements—Management Agreement”), which may create an incentive for our Manager to make investments that are risky or more speculative than would otherwise be in our best interests; |

| · | The possibility that we may acquire or merge with our Manager, resulting in