Company: BHM
Filing Date: 2025-08-29
Form Type: 40-APP/A
Source: 0001137439-25-001055
Chunk: 4

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-29
Form: 40-APP/A
Chunk 4
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 under the 1940 Act), that is participating in a Co-Investment Transaction in a
    principal capacity; or (c) any entity that would be an investment company but for Section 3(c) of the 1940 Act or Rule 3a-7 thereunder and whose investment adviser is an Adviser.

To the extent that an entity described in clause (b) is not advised by an Adviser, such entity shall be deemed to be
    an Adviser for purposes of the conditions.

7 “

#### Co-Investment Transaction
” means the
    acquisition or Disposition of securities of an issuer in a transaction effected in reliance on the Order or previously granted relief.

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the terms and conditions described herein. The Regulated Funds and Affiliated Entities that participate in a Co-Investment Transaction are collectively referred to herein as “Participants.” 8 The Applicants do not seek relief for transactions effected consistent with Commission staff no-action positions. 9

| II. | GENERAL DESCRIPTION OF THE APPLICANTS |

Bluerock Asset Management, LLC (“BAM”), a Delaware limited liability company formed in 2022, and/or one or more of its
    affiliates (collectively with BAM, “Bluerock Control Entities”) have controlling interests in each of the Advisers, and thus may be deemed to indirectly control the Regulated Funds and the Affiliated Entities. However, the Bluerock Control Entities are
    holding companies; they do not currently offer investment advisory services to any person, are not expected to do so in the future, and will not be the source of any Co-Investment Transactions under the requested Order. Accordingly, none of the
    Bluerock Control Entities have been included as Applicants.

| A. | TI+ |

TI+ is a Delaware statutory trust formed on May 25, 2012.  TI+ is registered under the 1940 Act as a
    closed-end management investment company that operates as an interval fund pursuant to Rule 23c-3 under the 1940 Act. TI+ commenced operations on October 22, 2012. TI+ intends to qualify annually as a regulated investment company under Sub-Chapter M of
    the Internal Revenue Code of 1986, as amended (the “

#### Code
”).

TI+’s primary investment objective is to generate current income while secondarily seeking long-term
    capital appreciation with low to moderate volatility and low correlation to the broader markets.