Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 74

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 74
---
-renewal of the Management
Agreement without cause, even for poor performance, could be difficult and costly. We may decline to renew the Management Agreement without
cause upon the affirmative vote of at least two-thirds of our independent directors that (1) there has been unsatisfactory performance
by our Manager that is materially detrimental to us or (2) the Base Management Fee and Incentive Fee (each as defined in the Management
Agreement) payable to our Manager are not, taken as a whole, in accordance with then-current market rates charged by asset management
companies rendering services similar to those rendered by our Manager, subject to our Manager’s right to prevent such non-renewal
by accepting a reduction of the fees agreed to by at least two-thirds of our independent directors. In such a case of non-renewal, our
Manager will be paid a termination fee equal to 3.00 times the sum of the Base Management Fee and Incentive Fee earned, in each case,
by our Manager during the 12-month period immediately preceding such non-renewal, calculated as of the end of the most recently completed
fiscal quarter before the date of non-renewal. These provisions may substantially restrict our ability to not to renew the Management
Agreement and would cause us to incur substantial costs in connection with such a non-renewal. Furthermore, in the event that our Management
Agreement is not renewed, and we are unable to identify a suitable replacement to manage us, our ability to execute our business plan
could be adversely affected.

Because we will be dependent upon our Manager and its affiliates to conduct our operations, any adverse changes in the financial health of our Manager or its affiliates or our relationship with them could hinder our operating performance and the return on your investment.

We will be dependent on our
Manager and its affiliates to manage our operations and acquire and manage our portfolio of real estate assets. Under the direction of
our board of directors, and subject to our investment guidelines, our Manager will make all decisions with respect to the management of
our company. Our Manager will depend upon the fees and other compensation that it receives from us in connection with managing our company
to conduct its operations. Any adverse changes in the financial condition of our Manager or its affiliates, or our relationship with our
Manager, could hinder its ability to successfully manage our operations and our portfolio of investments, which would adversely affect
us and our stockholders.

Our board of directors will approve very broad investment guidelines for our Manager