Aster & Links Achieves Leasing Milestone with One-Third of Residential Units Now Leased

Rhea-AI Summary

Belpointe PREP (NYSE: OZ) has announced a significant leasing milestone for its flagship property Aster & Links, with approximately one-third of its 424 residential units now leased following its grand opening in April 2025. Located in downtown Sarasota, Florida, this luxury mixed-use development offers one-, two-, and three-bedroom apartments, including two-level penthouses.

The property features approximately 60,000 square feet of retail space, with confirmed tenants including Sprouts Farmers Market, OfKors Cafe, Isabel Boutique, Servis1st Bank, and SkinSpirit. The development's success demonstrates strong demand for upscale residential properties combining modern design, resort-style amenities, and prime downtown location with walkable access to arts, dining, and waterfront attractions.

Positive

• Successfully leased 33% of 424 residential units shortly after grand opening
• Secured multiple high-profile retail tenants across 60,000 sq ft of retail space
• Strategic location in downtown Sarasota with access to key attractions
• Diverse unit mix including premium penthouses showing market positioning

Negative

• 67% of residential units remain unleased
• Retail space not fully occupied with more tenants still needed

News Market Reaction

-1.62%

1 alert

-1.62% News Effect

On the day this news was published, OZ declined 1.62%, reflecting a mild negative market reaction.

Data tracked by StockTitan Argus on the day of publication.

Sarasota, FL, May 13, 2025 (GLOBE NEWSWIRE) -- Belpointe PREP, LLC (“Belpointe OZ,” “we,” “us,” “our” or the “Company”) (NYSE American: OZ), a publicly traded qualified opportunity fund, is proud to announce that its flagship asset, Aster & Links, a premier 424-unit mixed-use luxury apartment community, has successfully leased approximately one-third of its residential units. This milestone follows Aster & Links’ highly anticipated grand opening celebration held in early April, marking the official debut of what we believe is one of Sarasota’s most exciting new residential addresses.

Situated in the heart of downtown Sarasota, Aster & Links offers residents an elevated living experience with thoughtfully designed and spacious one-, two- and three-bedroom apartments, many featuring powder rooms or dens perfect for entertaining. Two-level penthouses provide soaring ceilings, grand townhome-style layouts, and premium appliance packages, complemented by world-class amenities that rival high-end resorts. Perfectly positioned in the heart of Sarasota—just steps from vibrant arts, dining, and waterfront attractions—Aster & Links continues to attract discerning residents seeking a dynamic yet relaxed coastal lifestyle.

“We are thrilled with the overwhelmingly positive response from the Sarasota community,” said Brandon Lacoff, CEO of Belpointe OZ. “Reaching this milestone validates the demand for a sophisticated residential offering that combines modern design, resort-style amenities, and unparalleled walkability.”

In addition, Aster & Links features approximately 60,000 square feet of curated retail, including Sprouts Farmers Market^®, OfKors^® Cafe, Isabel Boutique, Servis1st Bank^®, and SkinSpirit^®, with more retailers coming soon.

For additional information or to schedule a private tour, please visit asterandlinks.com or call 888-680-3897.

About Aster & Links

Aster & Links is one of Sarasota’s premier mixed-use luxury communities, offering sophisticated rental residences and vibrant retail in the heart of downtown. With distinctive design, upscale amenities, and an unbeatable location, Aster & Links delivers an exceptional living experience infused with comfort, connection, and culture. Learn more at asterandlinks.com or calling 888-680-3897.

About Belpointe OZ

Belpointe OZ is a publicly traded qualified opportunity fund, listed on NYSE American under the symbol “OZ.” To date, Belpointe OZ has over 2,500 units in its development pipeline throughout four cities, representing an approximate total project cost of over $1.3 billion.

Belpointe OZ has filed two registration statements (including a combined prospectus) with the U.S. Securities and Exchange Commission (“SEC”) for the offer and sale of up to an aggregate of $1,500,000,000 of Class A units representing limited liability interests in Belpointe OZ (the “Class A units”). Before you invest, you should read Belpointe OZ’s most recent prospectus and the other documents that it has filed with the SEC for more complete information about Belpointe OZ and the offering. Investing in Belpointe OZ’s Class A units involves a high degree of risk, including a complete loss of investment. Prior to making an investment decision, you should carefully consider Belpointe OZ’s investment objectives and strategy, risk factors, fees and expenses and any tax consequences that may results from an investment in Belpointe OZ’s Class A units. To view Belpointe OZ’s most recent prospectus containing this and other important information visit sec.gov or investors.belpointeoz.com. Alternatively, you may request Belpointe OZ send you the prospectus by calling (203) 883-1944 or emailing IR@belpointeoz.com. Read the prospectus in its entirety before making an investment decision.

Cautionary Note Regarding Forward-Looking Statements

Certain statements in this press release may be considered forward-looking, such as statements containing estimates, projections and other forward-looking information. Forward-looking statements are typically identified by words and phrases such as “anticipate,” “estimate,” “believe,” “continue,” “could,” “intend,” “may,” “plan,” “potential,” “predict,” “seek,” “should,” “will,” “would,” “expect,” “objective,” “projection,” “forecast,” “goal,” “guidance,” “outlook,” “effort,” “target” or the negative of such words and other comparable terminology. However, the absence of these words does not mean that a statement is not forward-looking. Any forward-looking statements expressing an expectation or belief as to future events is expressed in good faith and believed to be reasonable at the time such forward-looking statement is made. However, these statements are not guarantees of future events and involve risks, uncertainties and other factors beyond our control. Therefore, we caution you against relying on any of these forward-looking statements. Actual outcomes and results may differ materially from what is expressed in any forward-looking statement. Except as required by applicable law, including federal securities laws, we do not intend to update any of the forward-looking statements to conform them to actual results or revised expectations.

Investor Relations and Media Contact:

Cody H. Laidlaw
Belpointe PREP, LLC
255 Glenville Road
Greenwich, Connecticut 06831
IR@belpointeoz.com
203-883-1944

FAQ

What is the current occupancy rate at Belpointe OZ's Aster & Links property?

Approximately one-third (33%) of the 424 residential units at Aster & Links have been leased following its grand opening in April 2025.

How many residential units does Aster & Links (NYSE: OZ) have in total?

Aster & Links features 424 residential units, including one-, two-, and three-bedroom apartments, as well as two-level penthouses.

What retail tenants are confirmed for Aster & Links in Sarasota?

Confirmed retail tenants include Sprouts Farmers Market, OfKors Cafe, Isabel Boutique, Servis1st Bank, and SkinSpirit within its 60,000 square feet of retail space.

Where is Belpointe OZ's Aster & Links property located?

Aster & Links is located in downtown Sarasota, Florida, with walkable access to arts, dining, and waterfront attractions.

What types of residential units are available at Aster & Links?

The property offers one-, two-, and three-bedroom apartments, many with powder rooms or dens, plus premium two-level penthouses featuring soaring ceilings and townhome-style layouts.