Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 93

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 93
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newal by accepting a reduction of the fees agreed to by at least two-thirds of our independent directors. In such a case of
non-renewal, our Manager will be paid a termination fee equal to 3.00 times the sum of the Base Management Fee and Incentive Fee earned,
in each case, by our Manager during the 12-month period immediately preceding such non-renewal, calculated as of the end of the most recently
completed fiscal quarter before the date of non-renewal. These provisions may substantially restrict our ability to not to renew the Management
Agreement and would cause us to incur substantial costs in connection with such a non-renewal. Furthermore, in the event that our Management
Agreement is not renewed, and we are unable to identify a suitable replacement to manage us, our ability to execute our business plan
could be adversely affected.

Because we will be dependent upon our Manager and its affiliates to conduct our operations, any adverse changes in the financial health of our Manager or its affiliates or our relationship with them could hinder our operating performance and the return on your investment.

We
will be dependent on our Manager and its affiliates to manage our operations and acquire and manage our portfolio of real estate assets.
Under the direction of our Board, and subject to our investment guidelines, our Manager will make all decisions with respect to the management
of our company. Our Manager will depend upon the fees and other compensation that it receives from us in connection with managing our
company to conduct its operations. Any adverse changes in the financial condition of our Manager or its affiliates, or our relationship
with our Manager, could hinder its ability to successfully manage our operations and our portfolio of investments, which would adversely
affect us and our stockholders.

Our Board will approve very broad investment guidelines for our Manager and will not approve each investment and financing decision made by our Manager unless required by our investment guidelines.

Our
Manager will be authorized to follow very broad investment guidelines established by our Board. Our Board will periodically review our
investment guidelines and our portfolio of assets but will not, and will not be required to, review all of our proposed investments, except
in limited circumstances as set forth in our investment guidelines. In addition, in conducting periodic reviews, our Board may rely primarily
on information provided to it by our Manager. Furthermore, transactions entered into by our Manager may be costly, difficult or impossible
to unwind by the time they are reviewed by our Board. Our Manager will have great latitude within the broad parameters of