Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 33

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 33
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 Our Series B Redeemable Preferred Stock is a covered security because it is senior
to our common stock and therefore is exempt from state registration.

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There are several advantages
to both issuers and investors of a security being deemed a covered security. These include:

·More Investors — Covered securities can be purchased by a broader range of investors than can non-covered securities. Non-covered securities are subject to suitability requirements that vary from state to state. These so-called “Blue Sky” regulations often prohibit the sale of securities to certain investors and may prohibit the sale of securities altogether until a specific volume of sales have been achieved in other states.

·Issuance Costs — Covered securities may have lower issuance costs since they avoid the expense of dealing with the various regulations of each of the 50 states and Washington, D.C. This could save time and money and allows issuers of covered securities the flexibility to enter the real estate markets at a time of their choosing. All of our investors would benefit from any lower issuance costs that may be achieved.

There are several disadvantages
to investors of a security being deemed a covered security. These include:

·Lack of Suitability Standards — Since there are no investor eligibility requirements, there is no prohibition on the sale of the securities to certain investors, including investors that may not be suitable to purchase the securities.

·No State Review — Investors will not receive an additional level of review and possible protection afforded by the various state regulators.

Corporate Information

We were formed on December 16,
2021 in Maryland. The address of our principal executive office is 919 Third Avenue, 40th Floor, New York, NY 10022. Our telephone number
is (212) 843-1601. We maintain an Internet website at www.bluerockhomes.com. Our website and the information contained
therein or connected thereto will not be deemed to be incorporated by reference herein, and you should not rely on any such information
in making an investment decision.

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RISK FACTORS</div>

The purchase of shares of our Series B Redeemable Preferred Stock involves a number of risks. You should carefully consider the following material risks in conjunction with the other information contained in this prospectus before purchasing our Series B Redeemable Preferred Stock. The risks discussed in this prospectus could adversely affect our business, operating results, prospects and financial condition. This could cause the value of our Series B Redeemable Preferred Stock to decline and/or