Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 335

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 335
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| · | tax-exempt entities and                                                                                             
 organizations (except to the limited extent discussed in “—Taxation of Holders of Our Series B Redeemable Preferred 
 Stock—Taxation of Tax-Exempt Stockholders” below);                                                                  |

| · | financial institutions 
 or broker-dealers;     |

| · | non-U.S. individuals and                                                                                         
 foreign corporations (except to the limited extent discussed in “—Taxation of Holders of Our Series B Redeemable 
 Preferred Stock—Taxation of Non-U.S. Stockholders” below);                                                       |

| · | former citizens or former                 
 long-term residents of the United States; |

| · | persons who mark-to-market               
 our Series B Redeemable Preferred Stock; |

| · | subchapter S corporations; |

| · | U.S. stockholders (as defined                            
 below) whose functional currency is not the U.S. dollar; |

| · | regulated investment companies 
 and REITs;                     |

| · | trusts and estates; |

| · | holders who receive our                                                                                          
 Series B Redeemable Preferred Stock through the exercise of employee stock options or otherwise as compensation; |

| · | persons holding our Series B                                                                                 
 Redeemable Preferred Stock as part of a “straddle,” “appreciated financial position,” “hedge,”               
 “conversion transaction,” “synthetic security” or other integrated investment or risk reduction transaction; |

| · | persons subject to the                          
 alternative minimum tax provisions of the Code; |

| · | pass-through entities (such                                                
 as entities treated as partnerships for U.S. federal income tax purposes); |

| · | persons subject to special                                                                                                   
 tax accounting rules as a result of their use of applicable financial statements (within the meaning of Section 451(b)(3) of 
 the Code); and                                                                                                               |

| · | persons holding our Series B                                                     
 Redeemable Preferred Stock through a partnership or similar pass-through entity. |

This summary assumes that stockholders hold our
Series B Redeemable Preferred Stock as a capital asset for U.S. federal income tax purposes, which generally means property held
for investment.

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If a partnership, including
any entity that is treated as a partnership for U.S. federal income tax purposes, holds our Series B Redeemable Preferred Stock,
the U.S. federal income tax treatment of the partner in the partnership will generally depend on the status of the partner and the activities
of