Company: BHM
Filing Date: 2025-04-07
Form Type: POS AM
Source: 0001104659-25-032524
Chunk: 383

Company: Bluerock Homes Trust, Inc.
Filing Date: 2025-04-07
Form: POS AM
Chunk 383
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) 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. The shares of Class A common stock issued
as a portion of the Manager Grant will vest ratably on an annual basis over a three-year period from April 1, 2023. From the
date of grant, the recipients will be entitled to receive “distribution equivalents” with respect to such LTIP Units, and
distributions with respect to such shares of Class A common stock, in each case 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-2</div>

On August 15, 2023, the company granted (i) 109,835 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 second quarter of 2023 (the “Q2 Base Management Fee”), and (ii) 24,753 C-LTIP Units to the Manager as reimbursement from thecompany for documented expenses of the Manager and its affiliates incurred on behalf
of the company, the Operating Partnership, and each of their respective subsidiaries that were reasonably necessary for the performance
by the Manager of its duties and functions under the Management Agreement during the second quarter of 2023 (collectively, the “Q2
Reimbursable Expenses”), in each case in keeping with the terms set forth in the Management Agreement. In addition, on August 15,
2023, in satisfaction of the remainder of the company’s Q2 Base Management Fee obligation to the Manager and the Manager’s
reimbursement obligation to BREH for payroll-related expenses in connection with the payment of base salaries for the second quarter of
2023 to each of Mr. Kamfar and Mr. Ruddy for services provided to the Manager in their respective capacities as Chief Executive
Officer and President thereof, by mutual agreement of the Manager and the company and at the direction of each of the Manager and BREH,
and in keeping with formal elections made on December 31, 2022 by each of Messrs. Kamfar and Ruddy, the company further issued
(a) 11,814 C-LTIP Units directly to Mr. Kamfar in payment of 98.4% of Mr.