Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 346

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 346
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 Stock is regularly traded on an established securities market in the United States, capital gain distributions that
are attributable to our sale of on such class of our capital stock that are attributable to our sale of a USRPI will be treated as ordinary
dividends rather than as gain from the sale of a USRPI, as long as the non-U.S. stockholder did not own more than 10% of the applicable
class of our capital stock at any time during the one-year period preceding the distribution or the non-U.S. stockholder was treated as
a “qualified shareholder” and “qualified foreign pension fund.” In such a case, non-U.S. stockholders generally
will be subject to withholding tax on such capital gain distributions in the same manner as they are subject to withholding tax on ordinary
dividends. Our Series A Redeemable Preferred Stock will not be regularly traded on an established securities market in the United
States following this offering. If our Series A Redeemable Preferred Stock is not regularly traded on an established securities market
in the United States or the non-U.S. stockholder owned more than 10% of our Series A Redeemable Preferred Stock at any time during
the one-year period preceding the distribution, capital gain distributions that are attributable to our sale of USRPIs will be subject
to tax under FIRPTA, as described above. In that case, we must withhold 21% of any distribution that we could designate as a capital gain
dividend. A non-U.S. stockholder may receive a credit against its tax liability for the amount we withhold.

Moreover, if a non-U.S. stockholder
disposes of our Series A Redeemable Preferred Stock during the 30-day period preceding a dividend payment, and such non-U.S. stockholder
(or a person related to such non-U.S. stockholder) acquires or enters into a contract or option to acquire our Series A Redeemable
Preferred Stock within 61 days of the first day of the 30-day period described above, and any portion of such dividend payment would,
but for the disposition, be treated as a USRPI capital gain to such non-U.S. stockholder, then such non-U.S. stockholder will be treated
as having USRPI capital gain in an amount that, but for the disposition, would have been treated as USRPI capital gain.

Although the law is not clear
on the matter, it appears that amounts we designate as