Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 31

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 31
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 concentrated in the Sunbelt and Western United States, and our portfolio going
forward may consist primarily of the same. As such, we are currently susceptible to local economic conditions and the supply of and demand
for residential properties in these markets. If there is a downturn in the economy or an oversupply of or decrease in demand for residential
properties in these markets, our business could be materially adversely affected to a greater extent than if we owned a real estate portfolio
that was more diversified in terms of both geography and industry focus.

We are employing a business model with a limited track record, which may make our business difficult to evaluate.

Our business strategy involves
purchasing, renovating, maintaining, and managing a large number of residential properties, including single-family properties, and leasing
them to qualified residents. Until recently, the single-family rental business consisted primarily of private and individual investors
in local markets and was managed individually or by small, non-institutional owners and property managers. Entry into this market by large,
well-capitalized investors is a relatively recent trend, so few peer companies exist and none have yet established long-term track records
that might assist us in predicting whether this aspect of our business model and investment strategy can be implemented and sustained
over an extended period of time. It may be difficult for you to evaluate our potential future performance without the benefit of established
long-term track records from companies implementing a similar business model. We may encounter unanticipated problems as we continue to
refine our business model, which may adversely affect our results of operations and ability to make distributions to our stockholders
and cause our stock price to decline significantly.

We have a limited operating history as a REIT and an independent publicly traded company and may not be able to operate our business successfully or generate sufficient cash flows to make or sustain distributions to our stockholders.

We have a limited operating
history as a REIT and an independent publicly traded company. As a result, an investment in our Series A Redeemable Preferred Stock
or Class A common stock may entail more risk than an investment in the preferred or common stock of a real estate company with a
substantial operating history. If we are unable to operate our business successfully, we would not be able to generate sufficient cash
flow to make or sustain distributions to our stockholders, and you could lose all or a portion of the value of your ownership in Series A
Redeemable Preferred Stock or Class A common stock. Our ability to successfully operate our business and implement our operating