Every 8-K 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 8-K covers material events a company has to report between its quarterly 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, 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.
Belpointe PREP, LLC entered into a Loan Modification Agreement on June 10, 2026 for its fixed-rate loan secured by 900 8th Avenue South in Nashville, Tennessee. The agreement extends the loan’s maturity date from July 2, 2026 to July 2, 2027, giving the company an additional year before repayment is due.
In connection with the modification, 900 Eighth, LP and certain affiliates paid the lender about $2.4 million, including $1.5 million of principal paydown and roughly $0.9 million of prepaid interest and fees. After this payment, the principal balance on the 900 8th Land Loan is $8.5 million, clarifying the remaining debt tied to this property.
Belpointe PREP, LLC reported a net asset value (NAV) of $453,157,249 as of March 31, 2026, with a reported NAV per Class A unit of $116.25 based on 3,898,104 Class A units outstanding.
Total assets were $755,611,260, including $724,820,038 of investments in real properties and $19,568,237 in cash and cash equivalents. Total liabilities were $302,454,011, primarily from $279,428,825 of debt and other borrowings. The Manager applies its valuation policies to estimate the price that would be received for the company’s assets in an arm’s-length transaction and notes there is no guarantee units will trade at NAV.
Belpointe PREP, LLC filed an amended report to correct a scrivener’s error and fully restate details of a new financing arrangement. Through its indirect subsidiary BPOZ 100 Tokeneke Holding, LLC, the company made a $5,000,000 convertible loan to 100 Tokeneke Road, LLC on March 3, 2026.
The loan bears interest at 3.6% per annum and, unless converted, is due March 3, 2028. It is convertible at the lender’s discretion into Class A units of 100 Tokeneke Partners, LLC at a $14.50 conversion price per unit. Proceeds were applied to purchase real property at 100 Tokeneke Road in Darien, Connecticut.
Concurrently, a related party entity made a separate $3,250,000 convertible loan on similar terms, with $625,000 mandatorily converted post-closing into Class A units of Tokeneke Partners, resulting in the related party becoming a 50% beneficial owner. The company’s Conflicts Committee reviewed and approved both related-party transactions.
Belpointe PREP, LLC entered into a material financing arrangement tied to a real estate acquisition in Darien, Connecticut. Through its indirect subsidiary BPOZ 100 Tokeneke Holding, LLC, it provided a $5,000,000 convertible loan to 100 Tokeneke Road, LLC at 3.6% interest, evidenced by a convertible promissory note.
This note can be converted at Belpointe’s discretion into Class A units of 100 Tokeneke Partners, LLC at a conversion price of $14.50 per unit. Concurrently, a related party extended a separate $3,250,000 convertible loan on similar terms, including a mandatory conversion of $625,000 that resulted in the related party becoming a 50% beneficial owner of Tokeneke Partners. Both loans funded the purchase of the 100 Tokeneke Road property and were reviewed and approved by the Board’s Conflicts Committee.
Belpointe PREP, LLC entered into a Letter Agreement on January 6, 2026 with 100 Tokeneke Partners, LLC and Daniel Suozzi. Suozzi contributed his indirect ownership interest in real property at 100 Tokeneke Road in Darien, Connecticut to Tokeneke Partners in exchange for 243,000 Class B Tokeneke Units.
Suozzi received a put right, allowing him from the Effective Date until May 31, 2027, subject to adjustment, to require Belpointe PREP or its affiliate to purchase all or part of these Tokeneke Units at $14.50 per Tokeneke Unit, payable in Belpointe PREP Class A units valued at the average of the high and low trading prices immediately before each notice. Tokeneke Manager, LLC received a corresponding call right from June 1, 2027 through December 31, 2027, subject to adjustment, on the same price and payment terms.
Belpointe PREP also agreed to register the Class A units issuable to Suozzi for resale and to use commercially reasonable efforts to keep that registration effective for up to 30 months or until Suozzi can sell under Rule 144 without limitation.
Belpointe PREP, LLC filed an amended report describing new debt financing for its Aster & Links property at 1991 Main Street in Sarasota, Florida. Through majority-owned subsidiaries, the company entered into a variable-rate mortgage and mezzanine loan facility for up to approximately $204.14 million, with about $172.83 million funded at closing.
About $165.76 million of the initial advance was used to repay existing construction and mezzanine loans, with remaining and future advances available for leasing costs, capital expenditures, up to $9 million in Earnouts, and up to $9 million in Approved Debt Service and Carry Expenses. The loans are interest-only, priced at Term SOFR with a 3.25% floor plus a blended 2.55%, initially maturing on October 11, 2027, with two one-year extension options subject to lender approval.
The debt is secured by a first-priority mortgage on Aster & Links and a pledge of the borrower entity interests. Belpointe PREP guarantees certain obligations, including maintaining specified net worth and liquid asset levels, and has put in place a $204.14 million interest rate cap at a 6.0% Term SOFR strike through October 15, 2027.
Belpointe PREP, LLC reports that its indirect majority-owned subsidiaries have entered into new financing arrangements for the Aster & Links development in Sarasota, Florida. BPOZ 1991 Main obtained a variable-rate mortgage loan agreement for up to $163.3 million, with an initial advance of $138.3 million, of which about $114.1 million refinanced the remaining balance of a prior construction loan with Bank OZK. The loan bears interest at Term SOFR plus 1.5% and initially matures on October 11, 2027, with two one-year extension options.
BP Mezz 1991 Main entered into a mezzanine loan agreement for up to $40.8 million, secured by its interest in BPOZ 1991 Main, also maturing on October 11, 2027 with two one-year extension options. Approximately $34.6 million from the mezzanine facility and about $17.1 million from the mortgage advance refinanced an existing mezzanine loan with Southern Realty Trust Holdings, LLC. The mezzanine loan bears interest at Term SOFR plus 6.75%, and remaining advances under both facilities may be used for leasing costs, capital expenditures, debt service, carry amounts and earnouts.
Belpointe PREP, LLC has entered into a material definitive agreement to sell its approximately 3.2-acre property at 900 8th Avenue South in Nashville, Tennessee for an aggregate purchase price of $19.3 million, subject to adjustment based on the number of units the buyer is permitted and intends to construct. The seller is 900 Eighth, LP, an indirect majority-owned subsidiary, and the buyer is WP South Acquisitions, L.L.C.
The contract date is set as August 26, 2025, with an entitlement date 120 days later (plus a possible 30-day extension), an inspection date 30 days after the entitlement date, and closing expected on the earlier of 180 days after the inspection date or a closing date chosen by the buyer with seven days’ notice, subject to up to three 30-day extensions by the buyer. The buyer has posted a $150,000 earnest money deposit, which becomes non-refundable after the inspection date except as otherwise provided, and the agreement includes customary representations, warranties and closing conditions.
Belpointe PREP, LLC held its annual meeting of unitholders. As of the record date of June 16, 2025, the company had 3,698,562 Class A units, 100,000 Class B units and 1 Class M unit outstanding. Holders of Class A and Class B units are entitled to one vote per unit. The single Class M unit is entitled to votes equal to ten times the aggregate number of Class A and Class B units outstanding on matters in which it may vote, indicating a concentrated voting power in the Class M holder. The filing includes signatures from authorized representatives, including Brandon E. Lacoff as Chairman and CEO.