Company: BHM
Filing Date: 2025-03-28
Form Type: POS AM
Source: 0001104659-25-029225
Chunk: 390

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-03-28
Form: POS AM
Chunk 390
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 were made in reliance upon exemptions from
registration provided by Section 4(a)(2) of the Securities Act of 1933 and Regulation D thereunder for transactions not involving
any public offering. No general solicitation or advertising occurred in connection with the issuance and sale of these securities.
From the date of grant, the recipients will be entitled to receive distributions with respect to such LTIP Units, whether or not
vested, at the time distributions are paid to the holders of the company’s Class A common stock.

Also on April 30, 2024,
the company issued an aggregate of 10,435 restricted shares of Class A common stock to and among certain of the BREH Personnel, pursuant
to the BHM Individuals Plan, as equity compensation for services provided to the Manager in such capacities for the fiscal year ended
December 31, 2023. These issuances were made in satisfaction of the Manager’s obligation to its affiliate, BREH, for compensation-related
expenses incurred by BREH in connection with its employment of the BREH Personnel, and were evidenced by Restricted Stock Vesting Agreements.
Such shares of Class A common stock will vest ratably on an annual basis over a three-year period from April 30, 2024. The issuances
of such shares of Class A common stock were made in reliance upon exemptions from registration provided by Section 4(a)(2) of
the Securities Act of 1933 and Regulation D thereunder for transactions not involving any public offering. No general solicitation or
advertising occurred in connection with the issuance and sale of these securities. From the date of grant, the recipients will be
entitled to receive distributions with respect to such shares of Class A common stock, whether or not vested, at the time distributions
are paid to the holders of the company’s Class A common stock.

<div align='center'>II-4</div>

On May 14, 2024, the
company granted 45,891 C-LTIP Units to the Manager in partial payment of the quarterly Base Management Fee to compensate the Manager for
advisory services and certain general management services rendered under the Management Agreement during the first quarter of 2024 (the
“Q1 2024 Base Management Fee”), in keeping with the terms set forth in the Management Agreement.

Also on May 14, 2024,
in satisfaction of the remainder of the company’s Q1 2024 Base Management Fee obligation to the Manager and the Manager’s