Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 306

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 306
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 with their respective percentage interests
in our Operating Partnership. We will cause our Operating Partnership to distribute annually to us amounts sufficient to allow us to satisfy
the annual distribution requirements necessary for us to maintain our qualification as a REIT, currently 90%, of our REIT taxable income
(determined without regard to the deduction for dividends paid and excluding net capital gains). We generally intend to cause our Operating
Partnership to distribute annually to us an amount equal to at least 100% of our taxable income, which we will then distribute to our
stockholders. To the extent that we distribute at least 90% our REIT taxable income (determined without regard to the deduction for dividends
paid and excluding net capital gains), but less than 100% of our taxable income, we will be subject to U.S. federal income tax on such
undistributed amount.

Upon liquidation of our Operating
Partnership, after payment of, or adequate provision for, debts and obligations of our Operating Partnership, including any partner loans,
any remaining assets of our Operating Partnership will be distributed to all partners with positive capital accounts in accordance with
their respective positive capital account balances. If any partner has a deficit balance in its capital account (after giving effect to
all contributions, distributions and allocations for all taxable years, including the year during which such liquidation occurs), such
partner shall have no obligation to make any contribution to the capital of our Operating Partnership with respect to such deficit, and
such deficit shall not be considered a debt owed to our Operating Partnership or to any other person for any purpose whatsoever.

Income, expenses, gains and
losses of our Operating Partnership will generally be allocated among the partners in a manner consistent with the distribution of cash
described in “—Distributions; Allocations of Profits and Losses” above. Upon the occurrence of certain specified events,
as described in “—LTIP Units” above, our Operating Partnership will revalue its assets and any net increase in valuation
will be allocated first to the LTIP Units to equalize the capital accounts of such holders with the capital accounts of OP Units. All
of the foregoing allocations are subject to compliance with the provisions of Sections 704(b) and 704(c) of the Code and the
Treasury Regulations thereunder. To the extent that Treasury Regulations promulgated pursuant to Section 704(c) of the Code
permit, we, as the general partner, will have the authority to elect the method to be used by our