Company: BHM
Filing Date: 2025-03-20
Form Type: 424B3
Source: 0001104659-25-026164
Chunk: 225

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-20
Form: 424B3
Chunk 225
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 the Company’s Operating Partnership will issue C-LTIP Units to the Company’s Manager pursuant
to the Management Agreement. In calculating the percentage interests of the partners in the Operating Partnership, LTIP Units are treated
as OP Units. Additional C-LTIP Units will also be issuable to the Company’s executive officers or other service providers of the
Company at the discretion of its Board.

Pursuant
to the Partnership Agreement the Company will be obligated to file a registration statement covering the issuance or resale of shares
of common stock received by limited partners who held their Partnership Units as of the date of the partnership agreement (including their
transferees and assigns) upon such limited partners’ redemption of their OP units, under which the Company will agree to use reasonable
efforts to have the registration statement declared effective, to register or qualify such shares under the securities or blue sky laws
of such jurisdictions within the United States as required by law, to list the Company’s shares of common stock issued pursuant
to the exercise of redemption rights on any securities exchange or national market system upon which the Company’s shares of common
stock are then listed, and to indemnify limited partners exercising redemption rights against all losses caused by any untrue statement
of a material fact contained in the registration statement, preliminary prospectus or prospectus or caused by any omission to state a
material fact required to be stated or necessary to make the statements therein not misleading, except insofar as such losses are caused
by any untrue statement or omission based upon information furnished to us by such limited partners.

In
general, LTIP Units will receive the same per-unit distributions as the OP Units. Initially, each LTIP Unit will have a capital account
balance of zero and, therefore, will not have full parity with OP Units with respect to any liquidating distributions. However, the Partnership
Agreement, as amended provides that “book gain,” or economic appreciation, in the Company’s assets realized by the Operating
Partnership as a result of the actual sale of all or substantially all of the Operating Partnership’s assets, or the revaluation
of the Operating Partnership’s assets as provided by applicable U.S. Department of Treasury regulations, will be allocated first
to the holders of LTIP Units until their capital account per unit is equal to the average capital account per-unit of the Company’s
OP Unit holders in the Operating Partnership.

As
of December 31, 2024, limited partners other than the Company owned approximately 69.48% of