Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 256

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 256
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9.8% Ownership Limitation for one or more persons and decrease the 9.8% Ownership Limitation
for all other persons.

On
June 28, 2023, pursuant to Section 6.1.8 of Article VI of our charter, our board of directors adopted resolutions decreasing
the 9.8% Ownership Limitation from 9.8% to 8.75% (in value or in number of shares, whichever is more restrictive) for all stockholders
of the company that are not Excepted Holders (as defined in our charter) (collectively, the “Decreased Ownership Limits”),
in connection with an exemption granted by our board of directors, pursuant to Section 6.1.7 of our charter, to Par Sanda and Sand
Capital Associates, LLC, a Florida limited liability company (together, the “Sand Group”) from the 9.8% Ownership Limitation
and establishing an Excepted Holder Limit (as defined in our charter) for the Sand Group, subject to certain limitations and conditions
(collectively, the “Original Exemption”). The Decreased Ownership Limits and the Original Exemption were to terminate no later
than December 28, 2024 (the “Revocation Date”). On November 5, 2024, pursuant to our charter, our board of directors
adopted resolutions to modify and extend the Original Exemption (the “Modified Exemption”) such that the Revocation Date will
be no later than December 31, 2025 (the “Extended Revocation Date”); provided, however, that the Modified Exemption is
conditioned on the same terms as the Original Exemption, with the exception of the Extended Revocation Date.

To assist us in qualifying
and preserving our status as a REIT, among other purposes, our charter also contains limitations on the ownership and transfer of shares
of capital stock that would:

| · | result                                                                                                                             
 in our capital stock being beneficially owned by fewer than 100 persons, determined without reference to any rules of attribution; |

| · | result                                                                          
 in our company being “closely held” under the U.S. federal income tax laws; and |

| · | cause                                                                                                                               
 our company to own, actually or constructively, 9.8% or more of the ownership interests in a tenant of our real property, under the 
 U.S. federal income tax laws or otherwise fail to qualify as a REIT