Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 432

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 432
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 business acquired for Marble Capital Income and Impact Fund, LP and Subsidiaries, and pro forma     
 financial information for the company included in the company’s Current Report on Form 8-K/A, filed with the SEC on July 8,              
 2025.                                                                                                                                    |

| (8) | The                                                                                                                    
 consolidated financial statements of the company included in the company’s Quarterly Report on Form 10-Q for the three 
 months ended June 30, 2025 filed with the SEC on August 13, 2025.                                                      |

| (9) | The financial statements                                                                                                    
 of real estate acquired for Skytop Apartments and pro forma financial information for the company included in the company’s 
 Current Report on Form 8-K, filed with the SEC on October 3, 2025.                                                          |

| (10) | The consolidated financial                                                                                                 
 statements of the company included in the company’s Quarterly Report on Form 10-Q for the three months ended September 30, 
 2025 filed with the SEC on November 6, 2025.                                                                               |

(b) Exhibits. See the
Exhibit Index on the page immediately following the signature page for a list of exhibits filed as part of this Registration
Statement on Form S-11, which Exhibit Index is incorporated herein by reference.

Item 37. Undertakings

Insofar as indemnification
for liabilities arising under the Securities Act of 1933, as amended (the “Act”) may be permitted to directors, officers
and controlling persons of our company pursuant to the provisions referred to in Item 34 of this registration statement, or otherwise,
we have been advised that in the opinion of the Securities and Exchange Commission, such indemnification is against public policy as
expressed in the Act and is, therefore, unenforceable. In the event that a claim for indemnification against such liabilities (other
than the payment by us of expenses incurred or paid by a director, officer or controlling person of ours in the successful defense of
any action, suit or proceeding) is asserted by such director, officer or controlling person in connection with the securities being registered,
we will, unless in the opinion of its counsel the matter has been settled by controlling precedent, submit to a court of appropriate
jurisdiction the question as to whether such indemnification by it is against public policy as expressed in the Act, and will be governed
by the final adjudication of such issue.

(a) The undersigned
registrant hereby undertakes