Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 52

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 52
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 and, therefore, distributions we make to our stockholders.

When we sell a property,
we may be required to make representations and warranties regarding the property and other customary items. In the event of a breach
of such representations or warranties, the purchaser of the property may have claims for damages against us, rights to indemnification
from us or otherwise have remedies against us. In any such case, we may incur liabilities that could result in losses and could harm
our operating results and, therefore distributions we make to our stockholders.

Our investments could be adversely affected if a member of our Bluerock operating partner network performs poorly at one or more of our projects, which could adversely affect returns to our stockholders.

In general, we expect to
rely on members of our operating partner network for the day-to-day management and development of our real estate investments. Members
of our network are not fiduciaries to us, and generally will have limited capital invested in a project, if any. One or more members
of our network may perform poorly in managing our project investments for a variety of reasons, including failure to properly adhere
to budgets or properly implement the property business plan. A member of our network may also underperform for strategic reasons related
to projects or assets that the partner is involved in with a Bluerock affiliate but not our company. If a member of our network does
not perform well, we may not be able to ameliorate the adverse effects of poor performance by terminating the partner and finding a replacement
partner to manage our projects in a timely manner. In such an instance, the returns to our stockholders could be adversely affected.

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Actions of our joint venture partners could subject us to liabilities in excess of those contemplated or prevent us from taking actions which are in the best interests of our stockholders, which could result in lower investment returns to our stockholders.

We have entered into, and
in the future intend to enter into, joint ventures, including with members of our operating partner network, to acquire or improve properties.
We may also purchase properties in partnerships, co-tenancies or other co-ownership arrangements. Such investments may involve risks
not otherwise present when acquiring real estate directly, including, for example:

| · | joint venturers                                                                                                                       
 may share certain approval rights over major decisions and reduce our flexibility to maximize project values or limit property costs; |

| · | that such co-venturer,                                                                                                                
 co-owner or partner may at