Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 117

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 117
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If we or the Operating Partnership are required to register as an investment company under the Investment Company Act, the additional expenses and operational limitations associated with such registration may reduce your investment return or impair our ability to conduct our business as planned.

If we become an investment
company or are otherwise required to register as an investment company, we might be required to revise some of our current policies, or
substantially restructure our business, to comply with the Investment Company Act. This would likely require us to incur the expense and
delay of holding a stockholder meeting to vote on proposals for such changes. Further, if we were required to register as an investment
company, but failed to do so, we would be prohibited from engaging in our business, criminal and civil actions could be brought against
us, some of our contracts might be unenforceable, unless a court were to direct enforcement, and a court could appoint a receiver to take
control of us and liquidate our business.

ERISA RISKS

If you fail to meet the fiduciary and other standards under the Employee Retirement Income Security Act of 1974, as amended (“ERISA”), or the Code as a result of an investment in our Series A Redeemable Preferred Stock, you could be subject to criminal and civil penalties.

Special considerations apply
to the purchase of stock by employee benefit plans subject to the fiduciary rules of title I of the Employee Retirement Income Security
Act of 1974, as amended, or ERISA, including pension or profit sharing plans and entities that hold assets of such plans, which we refer
to as ERISA Plans, and plans and accounts that are not subject to ERISA, but are subject to the prohibited transaction rules of Section 4975
of the Code, including IRAs, Keogh Plans, and medical savings accounts. (Collectively, we refer to ERISA Plans and plans subject to Section 4975
of the Code as “Benefit Plans” or “Benefit Plan Investors”). If you are investing the assets of any Benefit Plan,
you should consider whether:

| · | your investment will be consistent with your fiduciary obligations under ERISA and the Code; |

| · | your investment will be made in accordance with the documents and instruments governing the Benefit Plan, including the Plan’s investment policy; |

| · | your investment will satisfy the prudence and diversification requirements of Sections 404(a)(1)(B) and 404(a)(1)(C