Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 162

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 162
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Our Company

We are an externally managed
REIT formed to assemble 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 business objective is to generate attractive risk-adjusted returns
on investments where we believe we can drive growth in FFO and NAV 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 returns to our investors.

Our target renter pool includes
the large cohort of rental-biased and debt-burdened millennials, among others, who are reaching their peak household-formation age, have
a propensity for renting for lifestyle or flexibility reasons, and/or who do not want or cannot afford the upfront and ongoing financial
commitments of home ownership.

We expect these Knowledge/Quality
markets to have healthy long-term demand fundamentals for residential rentals. In addition, we believe that our moderate initial rent
price points will deliver durable income streams with relatively low turnover, and with potential for upside growth over time.

We utilize a number of investment
strategies to drive growth in FFO and NAV to maximize returns to our investors and improve property performance, including performing
value-add renovations, focusing on income and appreciation, selectively investing in the development of residential properties to capture
development premiums upon completion, implementing institutional property management approaches and leveraging our technology-aided platform.
See “—Growth Strategies.”

We invest primarily through
control positions in joint ventures with a network of established private, regional owner-operators in proprietary, off-market transactions
across a broad market footprint, enabling us to execute our strategies across multiple markets and strategies. Where appropriate, we may
seek to increase our ownership of the venture to 100%, subsequent to the execution of the initial business plan for each property.

We were formed in 2021 as
a Maryland corporation and have elected to be taxed as a REIT for U.S. federal income tax purposes commencing with our taxable year ended
December 31, 2022.

Our Portfolio

Our portfolio consists primarily
of residential properties that are between 15 and 40 years old located in first-ring suburban markets (which are areas within close proximity
to downtown amenities,