Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 224

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 224
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 action that may be treated as a repricing of an option or stock appreciation right under
the rules and regulations of the principal exchange on which the common stock is listed for trading. Unless terminated sooner by
our board of directors or extended with stockholder approval, the BHM Incentive Plans will terminate on the tenth anniversary of the
Distribution Date.

<div align='center'>141

OUR MANAGER AND RELATED AGREEMENTS</div>

Our Manager

We are externally managed
and advised by our Manager, pursuant to a Management Agreement. See “—The Management Agreement.” Our Manager is primarily
responsible for managing our day-to-day business affairs and assets and implementing our investment strategy, subject to the directives
and supervision of our board of directors. Our Manager maintains a contractual as opposed to a fiduciary relationship with us. Our Manager
conducts our operations and manages our portfolio of real estate investments. We have no paid employees.

The following table and biographical
descriptions set forth certain information with respect to the individuals who serve as the senior officers of our Manager:

| Name                |     | Age* |     | Position(s)               |
| R. Ramin Kamfar     |     |   61 |     | Chief Executive Officer   |
| Jordan Ruddy        |     |   62 |     | President                 |
| Ryan S. MacDonald   |     |   42 |     | Chief Investment Officer  |
| James G. Babb, III  |     |   60 |     | Chief Strategy Officer    |
| Christopher J. Vohs |     |   49 |     | Chief Financial Officer   
 and Treasurer             |
| Michael DiFranco    |     |   61 |     | Executive Vice President, 
 Operations                |
| Jason Emala         |     |   47 |     | Chief Legal Officer       
 and Secretary             |

The background and experience
of Messrs. Kamfar, Ruddy, MacDonald, Babb, Vohs, DiFranco and Emala are described above in “Management —Executive Officers.”

Bluerock Real Estate

Our Manager is an affiliate
of Bluerock Real Estate, L.L.C. (together with its affiliates, “Bluerock”), a leading institutional alternative asset manager
based in New York with regional offices across the United States. Bluerock principals have a collective 100+ years of investing experience
with more than $120 billion in real estate and capital markets experience and manage multiple well-