Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 19

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 19
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 or disregarded entities for U.S. federal 
 income tax purposes, we would cease to qualify as a REIT and suffer other material adverse consequences.                           |

| · | Legislative                                                                           
 or other actions affecting REITs could have a negative effect on us or our investors. |

Risks Related to Ownership of Our Common Stock

| · | A limit on                                                                                                                          
 the percentage of our capital stock and common stock that a person may own may discourage a takeover or business combination, which 
 could prevent our common stockholders from realizing a premium price for their common stock.                                        |

| · | Maryland law                                                     
 may limit the ability of a third party to acquire control of us. |

| · | Your percentage                                                                                                                           
 of ownership may become diluted if we issue new shares of stock or other securities, and issuances of preferred stock or other securities 
 by us may further subordinate the rights of the holders of our common stock.                                                              |

| · | Our ability                                                      
 to pay dividends is limited by the requirements of Maryland law. |

| · | We will incur                                                                                                                     
 increased costs as a result of operating as a public company. If we fail to maintain proper and effective internal controls, our  
 ability to produce accurate and timely financial statements could be impaired, which could result in sanctions or other penalties 
 that would harm our business.                                                                                                     |

Our Manager and Bluerock

We are externally managed
and advised by our Manager. Our Manager is an affiliate of Bluerock, a leading institutional alternative asset manager based in New York
with regional offices across the United States. Pursuant to the terms of the Management Agreement, our Manager will provide us with our
management team and appropriate support personnel, and we will have access to the management, infrastructure, personnel and other resources
of Bluerock necessary for the implementation and execution of our business and growth strategies. Our Manager has substantial discretion
with respect to the selection of specific investments consistent with our investment objectives and strategy, subject to our investment
guidelines.

Our Manager will be able
to draw upon the experience, expertise, and relationships of Bluerock’s senior executives, and its team of over 150 professionals
and support personnel, which will provide asset management, portfolio management, finance, administration, legal, compliance, investor
relations, asset valuation, risk management, information technology and other operational matters in connection with the performance
of our Manager’s duties. We expect to benefit from the personnel of Bluerock and the relationships and experience of Bluerock