Company: BHM
Filing Date: 2025-04-09
Form Type: 424B3
Source: 0001104659-25-033384
Chunk: 123

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-09
Form: 424B3
Chunk 123
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We intend to maintain our
qualification as a REIT for U.S. federal income tax purposes. The Code generally requires that a REIT annually distribute at least 90%
of its REIT taxable income, determined without regard to the deduction for dividends paid and excluding any net capital gain, and imposes
tax on any taxable income retained by a REIT, including capital gains.

To satisfy the requirements
for qualification as a REIT and generally not be subject to U.S. federal income and excise tax, we intend to make regular distributions
of all or substantially all of our REIT taxable income, determined without regard to dividends paid, to our stockholders out of assets
legally available for such purposes. All future distributions will be determined at the sole discretion of our board of directors on
a quarterly basis. When determining the amount of future distributions, we expect that our board of directors will consider, among other
factors, (i) the amount of cash generated from our operating activities, (ii) our expectations of future operating cash flows,
(iii) our determination of near-term cash needs for acquisitions of new properties, development investments, general property capital
improvements and debt repayments, (iv) our ability to continue to access additional sources of capital, (v) the requirements
of Maryland law, (vi) the amount required to be distributed to maintain our qualification as a REIT and to reduce any income and
excise taxes that we otherwise would be required to pay and (vii) any limitations on our distributions contained in our credit or
other agreements.

Subject to the preferential
rights of the holders of any class or series of our capital stock ranking senior to the Series A Redeemable Preferred Stock if any
such class or series is authorized in the future, the holders of Series A Redeemable Preferred Stock are entitled to receive, when
and as authorized by our board of directors and declared by us out of legally available funds, cumulative cash dividends on each share
of Series A Redeemable Preferred Stock at an annual rate of 6.0% of the Stated Value of $25.00 per share (each, a “Series A
Regular Dividend”). In addition, for each month for which the board of directors declares a Series A Regular Dividend, holders
of shares of the Series A Redeemable Preferred Stock will be entitled to receive an enhanced special dividend, which will be aggregated
with the Series A Regular Dividend so as to effect a dividend