Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 54

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 54
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 condition. See “—Our business, results of operations, financial condition, and cash flows may
be adversely affected by pandemics and outbreaks of infectious disease, which may include COVID-19.” We can provide no assurance
as to the extent property values and operating fundamentals in these markets will improve, if at all. If the recent economic downturn
in these markets returns or if we fail to accurately predict the timing of economic improvement in these markets, the value of our properties
could decline and our ability to execute our business plan may be adversely affected to a greater extent than if we owned a real estate
portfolio that was more geographically diversified, which could adversely affect our financial condition, operating results, and ability
to make distributions to our stockholders and cause the value of our common stock to decline.

We may not be able to effectively control the timing and costs relating to the renovation and maintenance of our properties, which may adversely affect our operating results and ability to make distributions to our stockholders.

Our
properties may require some level of renovation either immediately upon their acquisition or in the future following expiration of a lease
or otherwise. We may acquire properties that we plan to extensively renovate. We may also acquire properties that we expect to be in good
condition only to discover unforeseen defects and problems that require extensive renovation and capital expenditures. To the extent properties
are leased to existing residents, renovations may be postponed until the resident vacates the premises, and we will pay the costs of renovating.
In addition, from time to time, we may perform ongoing maintenance or make ongoing capital improvements and replacements and perform significant
renovations and repairs that resident deposits and insurance may not cover. Because our portfolio consists of geographically dispersed
properties, our ability to adequately monitor or manage any such renovations or maintenance may be more limited or subject to greater
inefficiencies than if our properties were more geographically concentrated.

Our
properties have infrastructure and appliances of varying ages and conditions. Consequently, we routinely retain independent contractors
and trade professionals to perform physical repair work and are exposed to all of the risks inherent in property renovation and maintenance,
including potential cost overruns, increases in labor and materials costs, delays by contractors in completing work, delays in the timing
of receiving necessary work permits, certificates of occupancy, and poor workmanship. Additionally, containment measures arising from
any future outbreaks of infectious disease, which may include COVID-19 or a future pandemic, may also interfere with the ability of our
associates, suppliers, and other business