Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 103

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 103
---
 by their terms.

Substantially
all of the investments we presently hold and the investments we expect to acquire in the future are, and will be, illiquid. The illiquidity
of our investments may make it difficult for us to obtain cash quickly if a need arises. If we are unable to obtain sufficient liquidity
prior to a redemption date, we may be forced to, among other things, engage in a partial redemption or to delay a required redemption.
If this were to occur, the market price of shares of the Series A Preferred Stock might be adversely affected, and stockholders entitled
to a redemption payment may not receive payment.

The Series A Preferred Stock will bear a risk of early redemption by us.

We
may voluntarily redeem some or all of the Series A Preferred Stock, for cash or equal value of shares of our Class A common
stock, two years after the issuance date. Any such redemptions may occur at a time that is unfavorable to holders of such preferred
stock. We may have an incentive to voluntarily redeem shares of Series A Preferred Stock, if market conditions allow us to issue
other preferred stock or debt securities at an interest or distribution rate that is lower than the distribution rate on the applicable
series of preferred stock. Given the potential for early redemption of the Series A Preferred Stock, holders of such shares may face
an increased reinvestment risk, which is the risk that the return on an investment purchased with proceeds from the sale or redemption
of the Series A Preferred Stock may be lower than the return previously obtained from the investment in such shares.

<div align='center'>42</div>

Table of Contents

Our ability to redeem the Series A Preferred Stock may subject investors to certain risks, including reinvestment risk and volatility risk.

Beginning
two years following the date of original issuance of the shares of Series A Preferred Stock to be redeemed, we may voluntarily
redeem some or all of such Series A Preferred Stock for cash or shares of our Class A common stock, in our sole discretion.
Any redemption of Series A Preferred Stock may occur at a time that is unfavorable to holders of the Series A Preferred Stock.
We may have an incentive to redeem the Series A Preferred Stock voluntarily if market conditions allow us to issue other preferred
stock or debt securities at an interest or distribution rate that is lower than the distribution rate on the Series A Preferred Stock.
Given the potential for early redemption of the Series A Preferred Stock, holders of such shares may face an increased reinvestment
risk, which is the risk that