Greenwich, CT, Sept. 01, 2023 (GLOBE NEWSWIRE) -- Belpointe PREP, LLC (NYSE American: OZ) ("Belpointe OZ"), a publicly traded qualified opportunity fund, today announced its unaudited quarterly net asset value ("NAV") as of June 30, 2023 of $351.6 million or $98.58 per Class A unit.
"We are pleased to announce our new per unit NAV of $98.58, which we believe is a testament to our prudent investment practices and our unwavering focus on executing high value real estate developments," said Brandon Lacoff, CEO of Belpointe OZ. "Despite the challenging economic climate," Lacoff continued, "our portfolio, primarily consisting of multifamily projects in prime markets with robust fundamentals, has demonstrated exceptional resilience."
CEO Brandon Lacoff also expressed enthusiasm for the ongoing progress of one of Belpointe OZ's flagship projects: "I am excited to share that our 424-unit Class A luxury development, Aster & Links, located at 1991 Main Street in Sarasota, Florida, is steadily advancing on schedule and is looking exceptional. I believe Aster & Links is poised to redefine luxury living with its prime location, top-tier amenities, and exceptional design, and the development's progress serves as a symbol of Belpointe OZ's ability to navigate complex real estate landscapes and bring visionary projects to life."
You can view Aster & Links' website by visiting: asterandlinks.com
In calculating the NAV, Belpointe OZ adjusted for the transaction costs and equity premium associated with its acquisition of Belpointe REIT, Inc., however, did not adjust for gains or distributions distributable to the manager pursuant to its Class B units based on the conclusion that such amounts would be immaterial.
The fair value of Belpointe OZ's real estate assets may have been impacted after June 30, 2023 by circumstances and events that are as of yet unknown. Past performance is not necessarily indicative of future results. All investments involve risk including the loss of principal.
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
