Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 378

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 378
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 withholding.

If the gain on the sale of
our Series B Redeemable Preferred Stock were taxed under FIRPTA, a non-U.S. stockholder would be taxed on that gain in the same
manner as U.S. stockholders, subject to applicable alternative minimum tax and a special alternative minimum tax in the case of nonresident
alien individuals. In addition, distributions that are subject to tax under FIRPTA also may be subject to a 30% branch profits tax when
made to a non-U.S. stockholder treated as a corporation (under U.S. federal income tax principles) that is not otherwise entitled to
treaty exemption. Finally, if we are not a domestically controlled qualified investment entity at the time our capital stock is sold
and the non-U.S. stockholder does not qualify for the exemptions described in the preceding paragraph, under FIRPTA the purchaser of
our capital stock also may be required to withhold 15% of the purchase price and remit this amount to the IRS on behalf of the selling
non-U.S. stockholder.

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With respect to individual
non-U.S. stockholders, even if not subject to FIRPTA, capital gains recognized from the sale of our capital stock will be taxable to
such non-U.S. stockholder if he or she is a non-resident alien individual who is present in the United States for 183 days or more during
the taxable year and some other conditions apply, in which case the non-resident alien individual may be subject to a U.S. federal income
tax on his or her U.S. source capital gain.

Redemptions.
As described in “Description of Capital Stock—Series B Redeemable Preferred Stock— Optional Redemption by
the Company” and “— Optional Redemption Following Death or Qualifying Disability of a Holder,” we have
the option to pay the redemption price, in whole or in part, in cash or shares of our Class A common stock.

If we elect to pay the entire
redemption price in our Class A common stock, so long our Series B Redeemable Preferred Stock does not constitute a USRPI under
FIRPTA, the tax consequences to a non-U.S. stockholder will generally be the same as those described above for a U.S. stockholder.
If our Series B Redeemable Preferred Stock does constitute a USRPI, the redemption of our Series B Redeemable Preferred Stock
for our common