Company: BHM
Filing Date: 2025-10-08
Form Type: S-11
Source: 0001104659-25-097905
Chunk: 316

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-10-08
Form: S-11
Chunk 316
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 role as general partner of our Operating Partnership and our operation 
 as a REIT;                                                                                                                       |

| · | acquire an interest in real or personal                   
 property other than through our Operating Partnership; or |

| · | except as described                                                                                             
 in “—Restrictions on Mergers, Sales, Transfers and Other Significant Transactions,” withdraw from our Operating 
 Partnership or transfer any portion of our general partnership interest.                                        |

Restrictions on Mergers, Sales, Transfers and Other Significant Transactions

We will not be able to voluntarily
withdraw from our Operating Partnership or transfer or assign our general partnership interest in our Operating Partnership or engage
in any merger, consolidation or other combination, or sale of all, or substantially all, of our assets in a transaction which results
in a change of control of the company (as general partner) unless:

| · | we receive the consent of limited                                                                                                       
 partners holding more than 50% of the Partnership Units held by the limited partners (other than those held by us or our subsidiaries); |

| · | as a result                                                                                                                                 
 of such a transaction, all limited partners (other than us or our subsidiaries) holding Partnership Units will receive for each Partnership 
 Unit an amount of cash, securities or other property equal in value to the amount of cash, securities or other property they would          
 have received if their Partnership Units had been converted 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