Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 288

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 288
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 reference to the Articles Supplementary classifying
shares of our preferred stock as shares of Series B Redeemable Preferred Stock (the “Series B Articles Supplementary”),
which have been filed with the SEC.

Rank. Our Series B
Redeemable Preferred Stock ranks, with respect to dividend rights and rights upon our liquidation, winding-up or dissolution:

| · | senior to all classes or                                                                                                                
 series of our common stock, and to any other class or series of our capital stock issued in the future unless the terms of that capital 
 stock expressly provide that it ranks senior to, or on parity with, the Series B Redeemable Preferred Stock;                            |

| · | on parity with any class                                                                                                      
 or series of our capital stock, the terms of which expressly provide that it will rank on parity with the Series B Redeemable 
 Preferred Stock, including the Series A Redeemable Preferred Stock; and                                                       |

| · | junior to any other class                                                                                                          
 or series of our capital stock, the terms of which expressly provide that it will rank senior to the Series B Redeemable Preferred 
 Stock, none of which exists on the date hereof, and subject to payment of or provision for our debts and other liabilities.        |

Investors in the Series B
Redeemable Preferred Stock should note that holders of our Series B Redeemable Preferred Stock do not have a right to receive a
return of capital prior to holders of our common stock upon the individual sale of a property.

Stated Value. Each
share of Series B Redeemable Preferred Stock has an initial “Stated Value” of $25.00, subject to appropriate adjustment
in relation to certain events as set forth in the Series B Articles Supplementary.

Dividends.
Subject to the preferential rights of the holders of any class or series of our capital stock ranking senior to our
Series B Redeemable Preferred Stock, if any such class or series is authorized in the future, the holders of Series B
Redeemable Preferred Stock are entitled to receive, when and as authorized by our board of directors and declared by us out of
legally available funds, cumulative cash dividends on each share of Series B Redeemable Preferred Stock at an annual rate of
7.5% of the Stated Value (each, a “Series B Dividend”). We expect Series B Dividends will be authorized and
declared on a quarterly basis, payable monthly on the 5th day of the month (the