Here are the 10-K annual reports from Belpointe PREP, LLC (OZ) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow OZ and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full OZ filings page.
Belpointe PREP, LLC is a Delaware limited liability company and the only publicly traded qualified opportunity fund listed on a U.S. exchange, investing primarily in commercial and mixed‑use real estate within opportunity zones. As of March 13, 2026, it had 3,896,184 Class A units outstanding, with non‑affiliate Class A units valued at about $210.9 million as of June 30, 2025 based on NYSE American prices. The company raised aggregate gross offering cash proceeds of $368.6 million by December 31, 2025 and reported a net asset value of $116.17 per Class A unit as of that date. Operations are externally managed by Belpointe PREP Manager, LLC, which is affiliated with sponsor Belpointe, LLC.
The portfolio includes large developments such as Aster & Links in Sarasota, Florida and VIV in St. Petersburg, Florida, alongside multiple Nashville and Storrs, Connecticut projects. Belpointe employs property‑level and corporate debt, targets 50–70% leverage on stabilized properties, and is structured as a partnership for U.S. federal income tax purposes while aiming to maintain qualified opportunity fund status under evolving OZ 1.0 and OZ 2.0 rules.