Belpointe PREP sets Q2 NAV at $116.37 per unit

Q: What NAV per Class A unit did Belpointe PREP, LLC (OZ) report as of June 30, 2026?

Belpointe PREP, LLC reported a NAV per Class A unit of $116.37 as of June 30, 2026, based on its valuation policies applied to its real estate portfolio, cash, other assets, and liabilities.

Q: What is Belpointe PREP, LLC’s total NAV as disclosed in this 8-K?

Belpointe PREP, LLC reported a total net asset value (NAV) of $455,013,467 as of June 30, 2026. This represents total assets less total liabilities for the company at that date.

Q: What were Belpointe PREP, LLC’s total assets and liabilities as of June 30, 2026?

Belpointe PREP, LLC reported total assets of $761,525,631 and total liabilities of $306,512,164 as of June 30, 2026, resulting in the disclosed total NAV.

Q: How much of OZ’s assets are invested in real properties versus cash?

As of June 30, 2026, Belpointe PREP, LLC held $727,299,889 in investments in real properties and $15,636,979 in cash and cash equivalents, with additional other assets of $18,588,763.

Q: What types of liabilities does Belpointe PREP, LLC include when determining NAV?

The NAV includes debt and other borrowings of $282,311,738 and other liabilities of $24,200,426, as well as allocations for management fees, distributions on Class B units, and reimbursable expenses.

Belpointe PREP, LLC (OZ) reported its quarterly determination of net asset value (NAV) as of June 30, 2026.

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Filing Sentiment

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Form Type

8-K

Rhea-AI Filing Summary

Belpointe PREP, LLC (OZ) reported its quarterly determination of net asset value (NAV) as of June 30, 2026. The company calculated a total NAV of $455,013,467 and a NAV per Class A unit of $116.37, based on 3,909,902 Class A units outstanding.

Total assets were $761,525,631, including $727,299,889 in investments in real properties, $15,636,979 in cash and cash equivalents, and $18,588,763 in other assets. Total liabilities were $306,512,164, consisting primarily of $282,311,738 in debt and other borrowings and $24,200,426 in other liabilities.

The NAV per Class A unit is derived under the company’s valuation policies, which seek to estimate the price that might be received for assets in an arm’s-length transaction. The company states this NAV is not a guarantee of realizable value or of future trading prices of its Class A units on NYSE American.

Filing Explained

Against the latest reported quarterly operating cash outflow, the June 30 cash balance equaled 364.2 days of that historical outflow rate; this is a liquidity comparison, not a projection.

Sources and calculations

Belpointe PREP, LLC Form 8-K (2026-08-28)
Belpointe PREP, LLC latest quarterly fundamentals (2026-06-30)

Available liquidity against the last reported quarterly operating outflow, in days at that rate $15,637,000 / ($3,907,000 / 91) = 364.2 days

8-K Event Classification

Item 8.01 — Other Events

1 item

Item 8.01 Other Events Other

Voluntary disclosure of events the company deems important to shareholders but not covered by other items.

Key Figures

Investments in real properties: $727,299,889 Cash and cash equivalents: $15,636,979 Total assets: $761,525,631 +5 more

8 metrics

Investments in real properties $727,299,889 Component of assets as of June 30, 2026

Cash and cash equivalents $15,636,979 Component of assets as of June 30, 2026

Total assets $761,525,631 As of June 30, 2026

Debt and other borrowings $282,311,738 Component of liabilities as of June 30, 2026

Total liabilities $306,512,164 As of June 30, 2026

Net asset value (NAV) $455,013,467 Total NAV as of June 30, 2026

Number of Class A units outstanding 3,909,902 Units used to compute NAV per unit as of June 30, 2026

NAV per Class A unit $116.37 As of June 30, 2026

Key Terms

net asset value, NAV per Class A unit, emerging growth company, arm’s-length transaction, +1 more

5 terms

net asset value financial

"has approved the Company’s quarterly determination of net asset value"

Net asset value is the total value of an investment fund's assets minus any liabilities, divided by the number of shares or units outstanding. It represents the per-share worth of the fund, similar to how the value of a house is determined by its total worth after debts are subtracted. Investors use it to gauge the true value of their holdings and to compare different investment options.

NAV per Class A unit financial

"NAV per Class A unit as of the Determination Date"

emerging growth company regulatory

"Emerging growth company"

An emerging growth company is a recently public or smaller public firm that qualifies for temporary, lighter regulatory and disclosure rules to reduce the cost and effort of being public. For investors, it means the company may provide less historical financial detail and face fewer reporting requirements than larger firms, so it can grow more quickly but also carries higher uncertainty—like buying a promising early-stage product with fewer user reviews.

arm’s-length transaction financial

"price that would be received for our assets and investments in an arm’s-length transaction"

construction loans financial

"liabilities (such as our construction loans)"

FAQ

AI-generated questions and answers. How Rhea-AI works. Not financial advice.

What NAV per Class A unit did Belpointe PREP, LLC (OZ) report as of June 30, 2026?

Belpointe PREP, LLC reported a NAV per Class A unit of $116.37 as of June 30, 2026, based on its valuation policies applied to its real estate portfolio, cash, other assets, and liabilities.

What is Belpointe PREP, LLC’s total NAV as disclosed in this 8-K?

Belpointe PREP, LLC reported a total net asset value (NAV) of $455,013,467 as of June 30, 2026. This represents total assets less total liabilities for the company at that date.

How many Class A units of OZ were outstanding at the June 30, 2026 NAV determination date?

At the June 30, 2026 determination date, Belpointe PREP, LLC had 3,909,902 Class A units outstanding, which were used to calculate the NAV per Class A unit.

What were Belpointe PREP, LLC’s total assets and liabilities as of June 30, 2026?

Belpointe PREP, LLC reported total assets of $761,525,631 and total liabilities of $306,512,164 as of June 30, 2026, resulting in the disclosed total NAV.

How much of OZ’s assets are invested in real properties versus cash?

As of June 30, 2026, Belpointe PREP, LLC held $727,299,889 in investments in real properties and $15,636,979 in cash and cash equivalents, with additional other assets of $18,588,763.

What types of liabilities does Belpointe PREP, LLC include when determining NAV?

The NAV includes debt and other borrowings of $282,311,738 and other liabilities of $24,200,426, as well as allocations for management fees, distributions on Class B units, and reimbursable expenses.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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Available on EDGAR 08/28/2026 - 08:45 AM EDT Accepted by SEC EDGAR 08/28/2026 - 06:15 AM EDT

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 OR 15(d) of The Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 28, 2026

Belpointe PREP, LLC

(Exact name of registrant as specified in its charter)

Delaware

001-40911

84-4412083

(State or other jurisdiction

of incorporation)

(Commission

File Number)

(IRS Employer

Identification No.)

255 Glenville Road

Greenwich, Connecticut

06831

(Address or principal executive offices)

(Zip Code)

(203) 883-1944

(Registrant’s telephone number, including area code)

Not Applicable

(Former name or former address, if changes since last report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act :

Title of Class		Trading Symbol		Name of Exchange on which registered
Class A units		OZ		NYSE American

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 7(a)(2)(B) of the Securities Act.

☐

Item 8.01 Other Events.

Belpointe PREP, LLC (“we,” “us,” “our,” or the “Company”) has approved the Company’s quarterly determination of net asset value (“NAV”) and NAV per Class A unit as of June 30, 2026 (the “Determination Date”), in accordance with our valuation policies.

The following table provides a breakdown of the major components of our NAV and NAV per Class A unit as of the Determination Date:

Assets
Investments in real properties	$	727,299,889
Cash and cash equivalents		15,636,979
Other assets		18,588,763
Total Assets	$	761,525,631

Liabilities
Debt and other borrowings		282,311,738
Other liabilities		24,200,426
Total Liabilities	$	306,512,164

NAV	$	455,013,467
Number of Class A units outstanding		3,909,902
NAV per Class A unit	$	116.37

Our NAV per Class A unit is based on the NAV of our assets and investments (such as our portfolio of commercial real estate properties) in addition to any other assets (such as cash on hand following any distributions to Belpointe PREP Manager, LLC (our “Manager”) pursuant to its Class B units, if any), less any liabilities (such as our construction loans), including the allocation or accrual of management fees, allocation or accrual of gains or distributions distributable to our Manager pursuant to its Class B units and expenses reimbursable to our Manager and its affiliates, including our Belpointe, LLC, our sponsor.

We calculate NAV per Class A unit using a process designed to produce a fair and accurate estimate of the price that would be received for our assets and investments in an arm’s-length transaction between a willing buyer and a willing seller in possession of all material information about our assets and investments. Our Manager periodically reviews our valuation methodologies and policies to determine whether they remain in the best interests of our unitholders and may adjust our methodologies as it deems appropriate. Our determination of NAV is not a representation or guarantee that we will be able to fully realize our NAV upon a sale of our assets and investments, or that our Class A units will trade at our NAV per Class A unit on the NYSE American.

SIGNATURES

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

Dated: August 28, 2026

	BELPOINTE PREP, LLC

	By:	/s/ Brandon E. Lacoff
		Brandon E. Lacoff
		Chairman of the Board and Chief Executive Officer

Source: View Original Filing on SEC EDGAR

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