Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 70

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 70
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 between us and our joint venturers may result in litigation or arbitration that would increase our expenses and prevent our officers and    
 directors from focusing their time and effort on our business and result in subjecting the properties owned by the applicable joint venture 
 to additional risk; or                                                                                                                      |

| ● | under                                                                                                                                  
 certain joint venture arrangements, neither venture partner may have the power to control the venture, and an impasse could be reached 
 which might have a negative influence on the joint venture.                                                                            |

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Table of Contents

These
events might subject us to costs or liabilities in excess of those contemplated and thus reduce your investment returns. If we have a
right of first refusal or buy/sell right to buy out a co-venturer, co-owner or partner, we may be unable to finance such a buy-out if
it becomes exercisable or we may be required to purchase such interest at a time when it might not otherwise be in our best interest to
do so. If our ownership interest is subject to a buy/sell right, we may not have sufficient cash, available borrowing capacity or other
capital resources to allow us to elect to purchase an interest of a co-venturer subject to the buy/sell right, in which case we may be
forced to sell our interest as the result of the exercise of such right when we would otherwise prefer to keep our interest. Finally,
we may not be able to sell our interest in a joint venture if or when we desire to exit the venture.

Your investment return may be reduced if we are required to register as an investment company under the Investment Company Act; if we are subject to registration under the Investment Company Act, we will not be able to continue our business.

Neither
we, nor our Operating Partnership, nor any of our subsidiaries intend to register as an investment company under the Investment Company
Act. We are organized as a holding company that conducts its businesses primarily through the Operating Partnership, which in turn is
a holding company conducting its business through its subsidiaries. We expect that our Operating Partnership’s and subsidiaries’
investments in real estate will represent the substantial majority of our total asset mix, which would not subject us to the Investment
Company Act. In order to maintain an exemption from regulation under the Investment Company Act, we intend to engage, through our Operating
Partnership and our wholly and majority owned subsidiaries, primarily in the business of buying real estate, and qualifying real estate
investments must be made within a year after cash is received by us