Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 250

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 250
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to distribute with respect to each year, at least the sum of 85% of our REIT ordinary income for such year, 95% of our REIT capital gain
income for such year, and any undistributed taxable income from prior periods, we will incur a 4% nondeductible excise tax on the excess
of such required distribution over the amounts we actually distribute. Distributions will be authorized at the discretion of our board
of directors, and will depend on, among other things, current and projected cash requirements, tax considerations and other factors deemed
relevant by our board of directors. Our board’s discretion will be directed, in substantial part, by its obligation to cause us
to comply with the REIT requirements. Because we may receive income from interest or rents at various times during our fiscal year, and
because our board of directors may take various factors into consideration in setting distributions, distributions may not reflect our
income earned in any particular distribution period and may be made in advance of actual receipt of funds in an attempt to make distributions
relatively uniform. We are authorized to borrow money, issue new securities or sell assets in order to make distributions. There are no
restrictions on the ability of our Operating Partnership to transfer funds to us. The use of sources other than cash flows from operating
activities to fund distributions and the ultimate repayment of any liabilities incurred, as well as the payment of distributions in excess
of our funds from operations, or “FFO,” could adversely impact our ability to pay distributions in future periods, decrease
the amount of cash we have available for operations and new investments and potentially reduce overall stockholder return and adversely
impact and dilute the value of an investment in our shares.

Amounts available
for distributions will be affected by our expenses, including any fees paid and distributions made to the Manager and any of its affiliates.
The amounts available for distributions will also be affected by any distributions made to the holders of OP Units.

There
can be no assurances that future cash flow will support distributions at the rate or amount per share that such distributions are paid
in any particular distribution period. In the near-term, we expect that we may need to continue to rely on sources other than cash flows
from operations, as determined on a GAAP basis, to pay cash distributions, which if insufficient could negatively impact our ability to
pay cash distributions.

Exhibit 21.1 Bluerock Homes Trust, Inc. Subsidiaries of the Registrant

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