Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 297

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 297
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 reasonably necessary for us to maintain our qualification as a REIT; |

| · | modify the manner in which capital accounts are computed; |

| · | include provisions referenced in future U.S. federal income tax guidance relating to compensatory partnership interests that we determine are reasonably necessary in respect of such guidance; or |

| · | satisfy any requirements, conditions or guidelines of federal or state law. |

Amendments that would, among
other things, convert a limited partner’s interest into a general partner’s interest, modify the limited liability of a limited
partner, adversely alter a partner’s right to receive any distributions or allocations of profits or losses or adversely alter or
modify the redemption rights, or alter the protections of the limited partners in connection with the transactions described in “—Restrictions
on Mergers, Sales, Transfers and Other Significant Transactions” must be approved by each limited partner that would be adversely
affected by such amendment.

<div align='center'>147</div>

In addition, we, as general
partner, will not be permitted to do any of the following except as expressly authorized in the partnership agreement:

| · | without the written consent of limited partners holding more than 66 2/3% of all of the outstanding Partnership Units held by limited partners other than us, take any action in contravention of an express prohibition or limitation contained in the partnership agreement; |

| · | enter into or conduct any business other than in connection with our role as general partner of our Operating Partnership and our operation as a REIT; |

| · | acquire an interest in real or personal property other than through our Operating Partnership; or |

| · | except as described in “—Restrictions on Mergers, Sales, Transfers and Other Significant Transactions,” withdraw from our Operating Partnership or transfer any portion of our general partnership interest. |

Restrictions on Mergers, Sales, Transfers and Other Significant Transactions

We will not be able to voluntarily
withdraw from our Operating Partnership or transfer or assign our general partnership interest in our Operating Partnership or engage
in any merger, consolidation or other combination, or sale of all, or substantially all, of our assets in a transaction which results
in a change of control of the company (as general partner) unless:

| · | we receive the consent of limited partners holding more than 50% of the Partnership Units held by the limited partners (other than those held by us or our subsidiaries); |

| · | as a result of such a transaction, all