Bluerock Homes Trust, Inc. (NYSE: BHM)

Bluerock Homes Trust, Inc. is a real estate investment trust that owns and operates residential real estate assets to generate rental and other property-related income through leasing residential units to tenants. The company was incorporated on December 16, 2021 under the laws of the state of Maryland and elected to be taxed as a REIT beginning with its taxable year ended December 31, 2022. Bluerock Homes Trust, Inc. conducts substantially all its business through its Operating Partnership, Bluerock Residential Holdings, L. P., of which it is the sole general partner. The company has no employees and is externally managed by Bluerock Homes Manager, LLC under a management agreement.

Bluerock Homes Trust, Inc. generates revenue primarily from the leasing of residential units to tenants across its portfolio of properties. The company earns rental income from its consolidated operating investments, which include residential communities and scattered single-family homes. Revenue is derived from monthly rent payments and other property-related income such as fees for amenities or services provided to residents. The company focuses on acquiring institutional residential properties in growth markets to create long-term value through income and appreciation.

The company operates through the following segments: residential communities and scattered single-family homes.

• Residential communities segment includes the acquisition, ownership, management, renovation, construction, and development of residential communities, which include both detached single-family home communities and attached unit communities such as apartments, townhouses, and duplexes. Each residential community is generally located on a single, contiguous land parcel and has amenities including clubhouses, gyms, pools and common areas. In addition, these residential communities typically have onsite property management.

• Scattered single-family homes segment includes the ownership, management, and renovation of scattered single-family homes, which are generally detached homes with no onsite property management.

Bluerock Homes Trust, Inc. operates in the competitive residential real estate industry, focusing on institutional-quality properties in growth markets. The company positions itself to compete by targeting high-disposable-income renters and employing value-add strategies such as renovation and redevelopment to drive rental growth and net operating income expansion. Its competitive advantages include institutional property management practices, technology-aided platforms for operational efficiency, and a focus on live-work-play amenities to enhance resident perception of value and support premium rental rates.

Bluerock Homes Trust, Inc. serves a diverse base of tenants residing in its residential communities and scattered single-family homes. The company targets renters by choice in demographically attractive growth markets with strong employment drivers in industries creating high disposable income jobs over the long term.