other material
confidence high
sentiment neutral
materiality 0.70
Belpointe PREP provides $30M loan to CEO-affiliated entity at 5% interest
Belpointe PREP, LLC
- Loan of $30M to Norpointe, LLC, an affiliate of CEO Brandon Lacoff.
- Interest at 5% per annum; maturity on December 31, 2022.
- Secured by first mortgage on property at 41 Wolfpit Avenue, Norwalk, CT.
- Note and mortgage filed as exhibits to the 8-K.
- Related-party transaction; CEO's affiliation disclosed.