Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 384

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 384
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 Kamfar’s base salary for the second quarter
of 2023, and (b) 3,842 C-LTIP Units directly to Mr. Ruddy in payment of 80.0% of Mr. Ruddy’s base salary for the
second quarter of 2023 (together, the “Q2 Base Salaries”). The issuances of C-LTIP Units in payment of the Q2 Base Management
Fee, the Q2 Reimbursable Expenses and the Q2 Base Salaries were made in reliance upon exemptions from registration provided by Section 4(a)(2) of
the Securities Act of 1933 and Regulation D thereunder for transactions not involving any public offering. Each of the Manager and Messrs. Kamfar
and Ruddy has a substantive, pre-existing relationship with the company and is an “accredited investor” as defined in Regulation
D. No general solicitation or advertising occurred in connection with the issuance and sale of these securities. The C-LTIP Units issued
in payment of the Q2 Base Management Fee, the Q2 Reimbursable Expenses and the Q2 Base Salaries were fully vested upon issuance, and may
convert to OP Units upon reaching capital account equivalency with the OP Units held by the company, and may then be redeemed for cash
or, at the option of the company and after a one year holding period (including any period during which such C-LTIP Units were held),
settled in shares of the company’s Class A common stock. Each of the Manager and Messrs. Kamfar and Ruddy will be entitled
to receive “distribution equivalents” with respect to such C-LTIP Units at the time distributions are paid to the holders
of the company’s Class A common stock.

On November 14, 2023,
the company granted (i) 124,704 C-LTIP Units to the Manager in partial payment of the quarterly Base Management Fee to compensate
the Manager for advisory services and certain general management services rendered under the Management Agreement during the third quarter
of 2023 (the “Q3 Base Management Fee”), and (ii) 27,835 C-LTIP Units to the Manager as reimbursement from the company
for documented expenses of the Manager and its affiliates incurred on behalf of the company, the Operating Partnership, and each of their
respective subsidiaries that were reasonably necessary for the performance by the Manager of its duties and functions under the Management
Agreement during the third quarter