Company: BHM
Filing Date: 2025-11-18
Form Type: S-11/A
Source: 0001104659-25-113674
Chunk: 398

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-11-18
Form: S-11/A
Chunk 398
---
 by the investor.

No volume discounts will
apply. The 7.0% selling commission will not be reduced based on volume purchases, nor for any other reason except as described above.

Neither our dealer manager
nor its affiliates will directly or indirectly compensate any person engaged as an investment advisor or a bank trust department by a
potential investor as an inducement for such investment advisor or bank trust department to advise favorably for an investment in shares
of Series B Redeemable Preferred Stock.

Underwriting Compensation

The table below sets forth the nature and estimated
amount of all items viewed as “underwriting compensation” by FINRA, assuming we sell all the shares of Series B Redeemable
Preferred Stock offered in our offering hereby.

| Selling commissions (maximum) |     | $ | 24,500,000 |
| Placement fee (maximum)       |     | $ | 10,500,000 |
| Total                         |     | $ | 35,000,000 |

We also will reimburse Bluerock
Capital Markets for reimbursements it may make to participating broker-dealers for bona fide due diligence expenses presented on detailed
and itemized invoices.

We or our affiliates also
may provide permissible forms of non-cash compensation to registered representatives of our dealer manager and the participating broker-dealers,
including gifts. In no event shall such gifts exceed an aggregate value of $100 per annum per participating salesperson, or be
pre-conditioned on achievement of a sales target. The value of such items will be considered underwriting compensation in connection
with this offering. The combined selling commissions, placement fee and such non-cash compensation under this offering will not exceed
FINRA’s 10.0% cap. Our dealer manager will repay to the company any excess payments made to our dealer manager over FINRA’s
10.0% cap if this offering is abruptly terminated before reaching the maximum amount of offering proceeds. The dealer manager’s
legal expenses will be paid by the dealer manager from the placement fee.

To the extent permitted by
law and our charter, we will indemnify the participating broker-dealers and Bluerock Capital Markets against certain civil liabilities,
including certain liabilities arising under the Securities Act and liabilities arising from breaches of our representations and warranties
contained in the dealer manager agreement. However, the SEC takes the position that indemnification against liabilities arising under
the Securities Act is against public policy and is not enforceable.

We do not expect the actual
amount of expenses incurred in connection with this