Every 10-Q that Belpointe PREP, LLC (OZ) has filed with the SEC in the last 24 months is listed below, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-Q covers the quarterly report filed between annual reports, 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 (OZ) filed its Q3 2025 10‑Q, showing continued ramp-up as developments come online. Total assets were $570.8 million, up from $517.6 million at year-end, driven by properties placed in service. Rental revenue rose to $2.38 million for the quarter (from $0.86 million a year ago) and $6.12 million year-to-date (from $1.58 million), reflecting lease-up progress.
The company reported a net loss of $12.1 million for Q3 and $28.4 million year-to-date, primarily due to property expenses, interest expense, and depreciation. Debt, net, increased to $251.4 million from $177.0 million after closing the Aster & Links refinancing, adding SOFR-based mortgage and mezzanine facilities up to $204.1 million and recording a $3.0 million loss on extinguishment of prior debt. Cash and cash equivalents were $29.6 million; total cash and restricted cash was $35.8 million.
VIV (1000 First Ave N, St. Petersburg) reached substantial completion on September 30, 2025, triggering a $180.8 million reclassification to operating real estate. As of November 7, 2025, units outstanding were 3,791,177 Class A, 100,000 Class B and one Class M. The Manager announced a NAV of $116.74 per Class A unit as of June 30, 2025.