Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 46

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 46
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 economies where our properties are located or by the real estate industry generally may result in changes in supply of or demand 
 for our residential rental properties; and                                                                                             |

| · | the failure                                                                                                                            
 of the real estate market to attract the same level of capital investment in the future that it attracted at the time of our purchases 
 or a reduction in the number of companies seeking to acquire properties may result in the value of our investments not appreciating    
 or decreasing, possibly significantly, below the amount we pay for these investments.                                                  |

The length and severity of
any economic slow-down or downturn cannot be predicted. Our operations and, as a result, our ability to make distributions to our stockholders
and/or our ability to realize appreciation in the value of our properties could be materially and adversely affected to the extent that
an economic slow-down or downturn is prolonged or becomes severe.

Our revenues are significantly influenced by demand for residential rental properties generally, and a decrease in such demand will likely have a greater adverse effect on our revenues than if we owned a more diversified real estate portfolio.

Our current portfolio is
focused predominately on residential rental properties, and we expect that our portfolio going forward will focus predominately on the
same. As a result, we are subject to risks inherent in investments in a single industry, and a decrease in the demand for residential
rentals would likely have a greater adverse effect on our rental revenues than if we owned a more diversified real estate portfolio.

The properties in our investment pipeline are subject to contingencies that could delay or prevent acquisition or investment in those properties.

At any given time, we are
generally in discussions regarding a number of properties for acquisition or investment, which we refer to as our investment pipeline.
However, we may not have completed our diligence process on these properties or development projects or have definitive investment or
purchase and sale agreements, as applicable, and several other conditions may be required to be met in order for us to complete these
acquisitions or developments, including approval by our Manager or board of directors. If we are planning to use proceeds of an offering
of our securities to fund these acquisitions or investments and are unable to complete the acquisition of the interests or investment
in any of these properties or experience significant delays in executing any such acquisition or investment, we will have issued securities
in an offering without realizing a corresponding current or future increase in earnings and cash flow from acquiring those interests
or developing those properties, and may incur expenses in connection with our attempts in consummating such acquisition