Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 325

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 325
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 into shares of our common stock immediately prior to such transaction, provided that, 
 if, in connection with the transaction, a purchase, tender or exchange offer shall have been made to, and accepted by, the holders  
 of more than 50% of the outstanding shares of our common stock, each holder of OP Units (other than us or our subsidiaries) shall   
 be given the option to exchange such OP Units for the greatest amount of cash, securities or other property that a limited partner  
 would have received had it (A) exercised its redemption right (described below) and (B) sold, tendered or exchanged pursuant        
 to the offer shares of our common stock received upon exercise of the redemption right immediately prior to the expiration of the   
 offer; or                                                                                                                           |

| · | we are the surviving entity                                                                                                            
 in the transaction and either (A) our stockholders do not receive cash, securities or other property in the transaction or (B) all     
 limited partners (other than us or our subsidiaries) receive for each Partnership Unit an amount of cash, securities or other property 
 having a value that is no less than the greatest amount of cash, securities or other property received in the transaction by our       
 stockholders.                                                                                                                          |

We will be able to merge
or consolidate with another entity, if immediately after such merger or consolidation, (i) substantially all of the assets of the
successor or surviving entity, other than OP Units held by us, are contributed, directly or indirectly, to our Operating Partnership
as a capital contribution in exchange for OP Units with a fair market value equal to the value of the assets so contributed as determined
by the survivor in good faith and (ii) the survivor in such merger or consolidation expressly agrees to assume all of our obligations
under our partnership agreement and such partnership agreement is amended after any such merger or consolidation so as to arrive at a
new method of calculating the amounts payable upon exercise of conversion or redemption rights that approximates the existing method
for such calculation as closely as reasonably possible.

We also will be able to (i) transfer
all or any portion of our general partnership interest to (A) a wholly owned subsidiary or (B) a parent company, and following
such transfer may withdraw as the general partner and (ii) engage in a transaction required by law or by the rules of any national
securities exchange on which shares of our common stock are listed.

Limited partners may not
transfer their Partnership Units without our consent, as our Operating Partnership’s