Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 245

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 245
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th Floor, New York, New York 10022.

(2) Numbers
and percentages in the table are based on 3,856,133 shares of Class A common stock outstanding, 8,489 shares of Class C common
stock outstanding, 7,365,735 OP Units outstanding and 1,360,688 vested LTIP Units outstanding, in each case as of March 19, 2025,
for a total of 12,591,045 shares of Class A Common Stock, Class C Common Stock, OP Units and vested LTIP Units outstanding.
However, numbers and percentages do not include 298,256 remaining unvested LTIP Units outstanding as of March 19, 2025 as addressed
in footnotes (5) through (13) below. Percentages for all named executive officers and directors as a group is based on the combined
total of all 12,591,045 shares of Class A Common Stock, Class C Common Stock, OP Units and vested LTIP Units outstanding, as
each is an equivalent unit of ownership.

(3) Percent
of Common Stock for each executive officer, director, and 5% stockholder is calculated using the combined total of all shares of Class A
common stock, Class C common stock, OP Units and vested LTIP Units owned by each such individual, as each is an equivalent unit of
ownership, relative to the combined total of 12,591,045 shares of Class A common stock, Class C common stock, OP Units and LTIP
Units outstanding as of March 19, 2025.

(4) In
addition, for estate planning purposes, certain irrevocable trusts associated with Mr. Kamfar, of which members of Mr. Kamfar’s
immediate family are the beneficiaries and of which Mr. Kamfar is neither a trustee nor a beneficiary, hold an aggregate of 4,753,551
OP Units.

(5) Total
includes 15,376 LTIP Units issued to the Manager as part of an initial staking grant on November 3, 2022 (the “Initial Staking
Grant”), of which 7,688 vested on each of November 3, 2023 and November 3, 2024. Total does not include (i) 23,063
remaining unvested LTIP Units issued to the Manager in connection with the Initial Staking Grant, which will vest ratably on an annual
basis on each of