Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 172

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 172
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 develop a ‘360-degree’ asset-level business strategy. The business strategy consists of a detailed forecast of the action items to be taken and the capital needed to achieve the anticipated returns. We regularly review asset-level business strategies to anticipate changes or opportunities in the market during a given phase of a real estate cycle. In addition, we conduct extensive property level diligence leveraging our joint venture partners and third-party experts, including reviewing title and performing physical inspections. |

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When evaluating potential
acquisitions and dispositions, we generally consider a variety of factors, including both market-level factors and property-level factors.
Market-level factors include: income levels and employment growth trends in the relevant market; employment, household growth and net
migration of the relevant market’s population; and barriers to entry that would limit competition (zoning laws, building permit
availability, supply of undeveloped or developable real estate and local building costs and construction costs). Property-level factors
include: the location, construction quality, condition and design of the property; the current and projected cash flow of the property
and the ability to increase cash flow; the potential for capital appreciation of the property; purchase price relative to the replacement
cost of the property; the potential for rent increases; the potential for economic growth and the tax and regulatory environment of the
community in which the property is located; the occupancy and demand by residents for properties of a similar type in the vicinity (the
overall market and submarket); the prospects for liquidity through sale, financing or refinancing of the property; the benefits of integration
into existing operations; purchase prices and yields of available existing stabilized properties, if any; competition from existing properties
and properties under development and the potential for the construction of new properties in the area; and potential for opportunistic
selling based on demand and price of high quality assets, including condominium conversions.

While our pace of acquisition
is dependent on a variety of factors, including availability of capital, we believe the infrastructure provided by our manager and our
network provides us with the ability to achieve an average acquisition pace of 500 to 1,000 homes per month. Newly acquired homes are
generally rent-ready within 75 days from acquisition, although the timing associated with this process will vary based on a number of
factors, including location, acquisition channel, construction quality and design of the property, whether the property was vacant when
acquired, and the condition of the property at acquisition. Such factors can also result in significant variance