Belpointe acquires 99.99% interest in 418-unit Sarasota apartment development via debt satisfaction

Belpointe PREP, LLC

Acquired 99.99% interest in BPOZ 1991 Main from CEO-affiliate BI Holding for full satisfaction of $24.773M secured note.
Property is a 5.3-acre site planned as 418 apartments and ~60k sq ft retail, two high-rise buildings up to 10 stories.
Original purchase price ~$20.7M; existing $10.8M acquisition loan at 4.75% from First Florida Integrity Bank, due May 6, 2022.
Interest of $262,946 on the note paid November 30, 2021; transaction approved by conflicts committee of the board.

This headline and bullets were generated automatically by deepseek-v4-flash:cloud@v2 from the public filing. Read the source on SEC.gov before relying on any specific claim. Not investment advice. See methodology for how this pipeline works.