Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 91

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 91
---
, as
determined on a GAAP basis, to fully fund distributions to you. To date, we have funded, and expect to continue to fund, distributions
to our stockholders, with cash flows from financing activities, which may include borrowings and net proceeds from shares sold in this
offering and/or of other offerings of our securities, cash resulting from a waiver or deferral of fees or expense reimbursements otherwise
payable to the Manager or its affiliates, cash resulting from the Manager or its affiliates paying certain of our expenses, proceeds from
the sales of assets, or from our cash balances. Our charter does not prohibit our use of such sources to fund distributions. We may be
required to fund distributions from a combination of some of these sources if our investments fail to perform as anticipated, if expenses
are greater than expected or as a result of numerous other factors. We have not established a cap on the amount of our distributions that
may be paid from any of these sources. Using certain of these sources may result in a liability to us, which would require a future repayment.

<div align='center'>47</div>

The use of the sources described
above for distributions and the ultimate repayment of any liabilities incurred, as well as the payment of distributions in excess of our
FFO, could adversely impact our ability to pay distributions in future periods, decrease the amount of cash we have available for operations
and new investments and reduce your overall return and adversely impact and dilute the value of your investment in shares of our Series A
Redeemable Preferred Stock. To the extent distributions in excess of current and accumulated earnings and profits (i) do not exceed
a stockholder’s adjusted basis in our stock, such distributions will not be taxable to a stockholder, but rather a stockholder’s
adjusted basis in our stock will be reduced; and (ii) exceed a stockholder’s adjusted tax basis in our stock, such distributions
will be included in income as long-term capital gain if the stockholder has held its shares for more than one year and otherwise as short-term
capital gain.

There may not be a broad market for our Class A common stock, which may cause our Class A common stock to trade at a discount and make it difficult for you to sell the Class A common stock for which your Series A Redeemable Preferred Stock may be redeemable at our option.

Our Class A common stock
for which the shares of our Series A Redeemable Preferred Stock may be redeemable at our