Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 308

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 308
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 of our
Operating Partnership and, as such, will have authority to handle tax audits and to make tax elections under the Code on behalf of our
Operating Partnership.

<div align='center'>152

MATERIAL U.S. FEDERAL INCOME TAX CONSIDERATIONS</div>

This section summarizes the
material U.S. federal income tax considerations that you, as a holder of our Series A Redeemable Preferred Stock, may consider relevant
in connection with the purchase, ownership and disposition of our Series A Redeemable Preferred Stock. Vinson & Elkins L.L.P.
has acted as our special tax counsel, has reviewed this summary, and is of the opinion that the discussion contained herein is accurate
in all material respects. Because this section is a summary, it does not address all aspects of taxation that may be relevant to particular
stockholders in light of their personal investment or tax circumstances, or to certain types of stockholders that are subject to special
treatment under the U.S. federal income tax laws, such as:

| · | persons acting as nominees or otherwise not as beneficial owners; |

| · | dealers, brokers, or traders in securities or currencies; |

| · | insurance companies; |

| · | tax-exempt entities and organizations (except to the limited extent discussed in “—Taxation of Holders of Our Series A Redeemable Preferred Stock—Taxation of Tax-Exempt Stockholders” below); |

| · | financial institutions or broker-dealers; |

| · | non-U.S. individuals and foreign corporations (except to the limited extent discussed in “—Taxation of Holders of Our Series A Redeemable Preferred Stock—Taxation of Non-U.S. Stockholders” below); |

| · | former citizens or former long-term residents of the United States; |

| · | persons who mark-to-market our Series A Redeemable Preferred Stock; |

| · | subchapter S corporations; |

| · | U.S. stockholders (as defined below) whose functional currency is not the U.S. dollar; |

| · | regulated investment companies and REITs; |

| · | trusts and estates; |

| · | holders who receive our Series A Redeemable Preferred Stock through the exercise of employee stock options or otherwise as compensation; |

| · | persons holding our Series A Redeemable Preferred Stock as part of a “straddle,” “appreciated financial position,” “hedge,” “conversion transaction,” “synthetic security”