Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 91

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 91
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45</div>

The use of the sources described
above for distributions and the ultimate repayment of any liabilities incurred, as well as the payment of distributions in excess of our
FFO, could adversely impact our ability to pay distributions in future periods, decrease the amount of cash we have available for operations
and new investments and reduce your overall return and adversely impact and dilute the value of your investment in shares of our Series A
Redeemable Preferred Stock. To the extent distributions in excess of current and accumulated earnings and profits (i) do not exceed
a stockholder’s adjusted basis in our stock, such distributions will not be taxable to a stockholder, but rather a stockholder’s
adjusted basis in our stock will be reduced; and (ii) exceed a stockholder’s adjusted tax basis in our stock, such distributions
will be included in income as long-term capital gain if the stockholder has held its shares for more than one year and otherwise as short-term
capital gain.

There may not be a broad market for our Class A common stock, which may cause our Class A common stock to trade at a discount and make it difficult for you to sell the Class A common stock for which your Series A Redeemable Preferred Stock may be redeemable at our option.

Our Class A common stock
for which the shares of our Series A Redeemable Preferred Stock may be redeemable at our option trades on the NYSE American under
the symbol “BHM.” Listing on the NYSE American or another national securities exchange does not ensure an actual or active
market for our Class A common stock. The market price of our Class A common stock may fluctuate widely as a result of a number
of factors, many of which are outside of our control. In addition, the stock market is subject to fluctuations in share prices and trading
volumes that affect the market prices of the shares of many companies. These fluctuations in the stock market may materially and adversely
affect the market price of our Class A common stock. Among the factors that could affect the market price of our common stock are:

| · | actual or anticipated quarterly fluctuations in our business, financial condition and operating results; |

| · | changes in revenues or earnings estimates or publication of research reports and recommendations by financial analysts or actions taken by rating agencies with respect to our securities or those of other REITs; |

| · | the ability of our tenants to pay rent to us and meet their other obligations to us under current lease terms; |

|