Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 351

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 351
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 redemption
will be treated as a taxable exchange of our Series A Redeemable Preferred Stock for our common stock. Such a deemed taxable exchange
would be subject to tax under FIRPTA at the rate of tax, including any applicable capital gains rates, that would apply to a U.S. stockholder
of the same type (e.g., an individual or a corporation, as the case may be) on the excess, if any, of the fair market value of such non-U.S. stockholder’s
Class A common stock received over s11,238uch non-U.S. stockholder’s adjusted basis in its Series A Redeemable
Preferred Stock. Collection of such tax will be enforced by a refundable withholding tax at a rate of 15% of the value of the common stock.

If we elect to pay the redemption
price partly in our Class A common stock and partly in cash, so long our Series A Redeemable Preferred Stock does not constitute
a USRPI under FIRPTA, the tax consequences to a non-U.S. stockholder will generally be the same as those described above for
a U.S. stockholder. If our Series A Redeemable Preferred Stock does constitute a USRPI, our Class A common stock also constitutes
a USRPI, and non-U.S. stockholder realizes gain on the redemption our Series A Redeemable Preferred Stock, such non-U.S. stockholder
will be required to recognize gain in an amount equal to the lesser of (1) the gain realized and (2) the amount of cash
received, except with respect to any cash attributable to a fractional share and so long as certain FIRPTA-related reporting requirements
are satisfied. However, such non-U.S. stockholders will recognize no loss on the redemption. If our Class A common stock does not
constitute a USRPI, the redemption will be treated as a taxable exchange of our Series A Redeemable Preferred Stock for our Class A
common stock, as described above.

If we elect to pay the entire
redemption price in cash, such redemption of our Series A Redeemable Preferred Stock by a non-U.S. stockholder whose income derived
from the investment in shares of our Series A Redeemable Preferred Stock is not effectively connected with the conduct of a trade
or business in the U.S. will be treated under Section 302 of the Code as a distribution that is taxable as dividend income (to the
extent of our current or