Company: BHM
Filing Date: 2025-07-08
Form Type: DRS
Source: 0001104659-25-066400
Chunk: 16

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-07-08
Form: DRS
Chunk 16
---
 the applicable series of preferred stock to reinvest proceeds from the redemption in a comparable investment with an equal or    
 greater yield to the yield on such series of preferred stock had their shares not been redeemed. If we are unable to effectively    
 manage the impact of these and other risks, our ability to meet our investment objectives would be substantially impaired. In turn, 
 the value of our Class A common stock and our ability to make distributions would be materially reduced.                            |

| · | Holders of                                                                    
 the Series B Redeemable Preferred Stock have extremely limited voting rights. |

Risks Related to Our Status as a REIT

| · | Failure to                                                                                                
 maintain our qualification as a REIT would materially and adversely affect us and the value of our stock. |

| · | In certain                                                                                                                       
 circumstances, we may be subject to certain U.S. federal, state and local taxes despite our qualification as a REIT, which would 
 reduce our cash available for distribution to you.                                                                               |

| · | If certain                                                                                                                         
 of our subsidiaries, including our Operating Partnership, fail to qualify as partnerships or disregarded entities for U.S. federal 
 income tax purposes, we would cease to qualify as a REIT and suffer other material adverse consequences.                           |

| · | Legislative                                                                           
 or other actions affecting REITs could have a negative effect on us or our investors. |

Risks Related to Ownership of Our Common Stock

| · | A limit on                                                                                                                          
 the percentage of our capital stock and common stock that a person may own may discourage a takeover or business combination, which 
 could prevent our common stockholders from realizing a premium price for their common stock.                                        |

| · | Maryland law                                                     
 may limit the ability of a third party to acquire control of us. |

| · | Your percentage                                                                                                                           
 of ownership may become diluted if we issue new shares of stock or other securities, and issuances of preferred stock or other securities 
 by us may further subordinate the rights of the holders of our common stock.                                                              |

| · | Our ability                                                      
 to pay dividends is limited by the requirements of Maryland law. |

| · | We will incur                                                                                                                     
 increased costs as a result of operating as a public company. If we fail to maintain proper and effective internal controls, our  
 ability to produce accurate and timely financial statements could be impaired, which could result in sanctions or other penalties 
 that would harm our business.                                                                                                     |

Our Manager and Bluerock

We are externally managed
and