Company: BHM
Filing Date: 2025-08-13
Form Type: 424B3
Source: 0001104659-25-077615
Chunk: 36

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-08-13
Form: 424B3
Chunk 36
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 one hundred and twenty (120) calendar days prior to the desired redemption date, limited to a semi-annual basis effective
June 30 and December 31 of each calendar year. The Lock-Out Period shall not apply to (A) the
General Partner, (B) The Special Limited Partner, and (3) participants of the Fund’s distribution reinvestment program
(“DRP”). Unless waived by the General Partner in its sole discretion, the redemption request must be for partnership units
with an aggregate partnership net asset value of at least $125,000. In no event will the General Partner, the Fund, or their respective
affiliates be obligated to sell or finance, or cause to be sold or financed, or otherwise transfer, any assets (including assets owned
directly or indirectly by the Fund), contribute additional capital or assets to the Fund, or take any other action (including incurring
indebtedness) in order to redeem any partnership units. Redemption units will be redeemed on a pro rata basis based upon the relative
number of redemption units submitted by each limited partner.

14

MARBLE CAPITAL INCOME AND IMPACT FUND, LP AND SUBSIDIARIES

NOTES TO CONSOLIDATED FINANCIAL STATEMENTS

As of and for the Year Ended December 31, 2024

6. Partners’ capital (continued)

Redemptions (continued)

The redemption price of each redemption
unit redeemed by a limited partner shall be equal to:

| (i) | with respect to the redemption units                                                                                                    
 that may have been outstanding for at least twelve (12) months but fewer than twenty-four (24) months, ninety-five percent (95%) of the 
 Fund’s Net Asset Value per partnership unit as of the last day of the quarter immediately preceding the redemption date;                |

| (ii) | with respect to redemption units                                                                                                           
 that may have been outstanding for at least twenty-four (24) months but fewer than thirty-six (36) months (as of the applicable redemption 
 date), ninety-seven and one-half percent (97.5%) of the Fund’s Net Asset Value per partnership unit as of the last day of the quarter      
 immediately preceding the redemption date; and                                                                                             |

| (iii) | with respect to redemption units                                                                                                       
 that may have been outstanding for at least thirty-six (36) months (as of the applicable redemption date), the Fund’s Net Asset        
 Value per partnership unit as of the last day of the quarter