Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 51

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 51
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 manner. In such an instance, the returns to our stockholders could be adversely affected.

Actions of our joint venture partners could subject us to liabilities in excess of those contemplated or prevent us from taking actions which are in the best interests of our stockholders, which could result in lower investment returns to our stockholders.

We have entered into, and
in the future intend to enter into, joint ventures, including with members of our operating partner network, to acquire or improve properties.
We may also purchase properties in partnerships, co-tenancies or other co-ownership arrangements. Such investments may involve risks not
otherwise present when acquiring real estate directly, including, for example:

| · | joint venturers may share certain approval rights over major decisions and reduce our flexibility to maximize project values or limit property costs; |

| · | that such co-venturer, co-owner or partner may at any time have economic or business interests or goals which are or which become inconsistent with our business interests or goals, including inconsistent goals relating to the timing of the sale of properties held in the joint ventures and/or the timing of termination or liquidation of the joint ventures; |

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| · | the possibility that our co-venturer, co-owner or partner in an investment might become insolvent or bankrupt and thus be unable to fulfill its financial obligations to us in that investment; |

| · | the possibility that we may incur liabilities as a result of an action or omission taken by our co-venturer, co-owner or partner; |

| · | that such co-venturer, co-owner or partner may be in a position to take action contrary to our instructions or requests or contrary to our policies or objectives, including our policy with respect to maintaining our qualification as a REIT; |

| · | disputes 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. |

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,