Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 119

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 119
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 we, our Operating Partnership
or our subsidiaries may be required to acquire additional income or loss-generating assets that we might not otherwise acquire or forego
opportunities to acquire interests in companies that we would otherwise want to acquire. Although we, our Operating Partnership and our
subsidiaries intend to monitor our respective portfolios periodically and prior to each acquisition or disposition, any of these entities
may not be able to maintain an exclusion from registration as an investment company. If we, our Operating Partnership or our subsidiaries
are required to register as an investment company but fail to do so, the unregistered entity would be prohibited from engaging in our
business, and criminal and civil actions could be brought against such entity. In addition, the contracts of such entity would be unenforceable
unless a court required enforcement, and a court could appoint a receiver to take control of the entity and liquidate its business.

If we or the Operating Partnership are required to register as an investment company under the Investment Company Act, the additional expenses and operational limitations associated with such registration may reduce your investment return or impair our ability to conduct our business as planned.

If we become an investment
company or are otherwise required to register as an investment company, we might be required to revise some of our current policies, or
substantially restructure our business, to comply with the Investment Company Act. This would likely require us to incur the expense and
delay of holding a stockholder meeting to vote on proposals for such changes. Further, if we were required to register as an investment
company, but failed to do so, we would be prohibited from engaging in our business, criminal and civil actions could be brought against
us, some of our contracts might be unenforceable, unless a court were to direct enforcement, and a court could appoint a receiver to take
control of us and liquidate our business.

ERISA RISKS

If you fail to meet the fiduciary and other standards under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or the Code as a result of an investment in our Series B Redeemable Preferred Stock, you could be subject to criminal and civil penalties.

Special considerations apply
to the purchase of stock by employee benefit plans subject to the fiduciary rules of title I of the Employee Retirement Income Security
Act of 1974, as amended, or ERISA, including pension or profit sharing plans and entities that hold assets of such plans, which we refer
to as