Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 176

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 176
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 investment company under the Investment Company Act. Section 3(a)(1)(A) of the Investment Company Act defines an investment
company as any issuer that is or holds itself out as being engaged primarily, or proposes to engage primarily, in the business of investing,
reinvesting or trading in securities. Section 3(a)(1)(C) of the Investment Company Act defines an investment company as any
issuer that is engaged or proposes to engage in the business of investing, reinvesting, owning, holding or trading in securities and owns
or proposes to acquire investment securities having a value exceeding 40% of the value of the issuer’s total assets (exclusive of
U.S. Government securities and cash items) on an unconsolidated basis, or the “40% test.” Excluded from the term “investment
securities,” among other things, are U.S. Government securities and securities issued by majority-owned subsidiaries that are not
themselves investment companies and are not relying on the exception from the definition of investment company set forth in Section 3(c)(1) or
Section 3(c)(7) of the Investment Company Act.

The company is organized as
a holding company that conducts its businesses primarily through the Operating Partnership and our direct or indirect wholly-owned or
majority-owned subsidiaries. The company and the Operating Partnership do not and will not hold themselves out as investment companies.
Both the company and the Operating Partnership intend to conduct their operations so that they comply with the limits imposed by the 40%
test. We expect the focus of our business will involve investments in real estate, buildings, and other assets that can be referred to
as “sticks and bricks” and therefore we will not be an investment company under Section 3(a)(1)(A) of the Investment
Company Act. The securities issued to our Operating Partnership by any wholly owned or majority-owned subsidiaries that we may form in
the future that are excepted from the definition of “investment company” based on Section 3(c)(1) or Section 3(c)(7) of
the Investment Company Act, together with any other investment securities the Operating Partnership may itself own, will not have a value
in excess of 40% of the value of the Operating Partnership’s total assets on an unconsolidated basis. We will monitor our holdings
to ensure continuing and ongoing compliance with this test. In addition, we believe neither the company nor the Operating Partnership
nor any direct or indirect majority-owned or wholly-owned subsidiary will