Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 380

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 380
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, 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 fourth quarter of 2022 (collectively, the “Q4 Reimbursable Expenses”), in each case in keeping with the terms set
forth in the Management Agreement. The issuances of C-LTIP Units in payment of the Q4 Base Management Fee and the Q4 Reimbursable Expenses
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. The Manager 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 Q4 Base Management Fee and the Q4 Reimbursable
Expenses 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. The Manager 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 May 17, 2023, the
company granted (i) 99,836 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 first quarter
of 2023 (the “Q1 Base Management Fee”), and (ii) 20,531 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 first quarter of 2023 (collectively, the “Q1 Reimbursable Expenses”), in each case in keeping with the
terms set forth in the Management Agreement. In addition, on