Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 379

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 379
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 stock may be a taxable exchange for a non-U.S. stockholder. However, even if our Series B Redeemable Preferred
Stock does constitute a USRPI, provided our Class A common stock also constitutes a USRPI, a non-U.S. stockholder generally
will not recognize gain or loss upon the redemption of our Series B Redeemable Preferred Stock for our Class A common stock
so long as certain FIRPTA-related reporting requirements are satisfied, except with respect to any cash attributable to a fractional
share. If our Series B Redeemable Preferred Stock does constitute a USRPI and such requirements are not satisfied, however, the
redemption will be treated as a taxable exchange of our Series B 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 B 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 B 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 B 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 B 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