Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 304

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 304
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 stockholders. Furthermore, if we fail to
distribute with respect to each year, at least the sum of 85% of our REIT ordinary income for such year, 95% of our REIT capital
gain income for such year, and any undistributed taxable income from prior periods, we will incur a 4% nondeductible excise tax on
the excess of such required distribution over the amounts we actually distribute. See “Material U.S. Federal Income Tax
Considerations—Distribution Requirements.” Distributions will be authorized at the discretion of our board of directors,
and will depend on, among other things, current and projected cash requirements, tax considerations and other factors deemed
relevant by our board. Our board’s discretion will be directed, in substantial part, by its obligation to cause us to comply
with the REIT requirements. Because we may receive income from interest or rents at various times during our fiscal year, and
because our board may take various factors into consideration in setting distributions, distributions may not reflect our income
earned in any particular distribution period and may be made in advance of actual receipt of funds in an attempt to make
distributions relatively uniform. We are authorized to borrow money, issue new securities or sell assets in order to make
distributions. There are no restrictions on the ability of our Operating Partnership to transfer funds to us. The use of sources
other than cash flows from operating activities to fund distributions and the ultimate repayment of any liabilities incurred, as
well as the payment of distributions in excess of our funds from operations, or “FFO,” could adversely impact our
ability to pay distributions in future periods, decrease the amount of cash we have available for operations and new investments and
potentially reduce your overall return and adversely impact and dilute the value of your investment in shares of our Series B
Redeemable Preferred Stock, which would be reflected when we establish an estimated per share value of each class of our
Series B Redeemable Preferred Stock. For a discussion of various risks relating to the payment and source of distributions, see
“Risk Factors—Risks Related to This Offering— Dividend payments on the Series B Redeemable Preferred Stock
are not guaranteed” and “—We may have difficulty completely funding our distributions with funds provided by cash
flows from operating activities; therefore, we may use cash flows from financing activities, which may include borrowings and net
proceeds from shares sold in this offering or our common stock offering, proceeds from the