Belpointe subsidiary secures $104M construction loan for Viv project in St. Pete

Belpointe PREP, LLC

Loan up to $104M with interest at 3.8% + 1-month SOFR, secured by first-lien mortgage on Viv property.
Initial maturity June 28, 2027; two one-year extension options available.
Proceeds fund continued development and leasing costs of Viv at 1000 1st Avenue North, St. Petersburg.
Company provided debt service, completion, and non-recourse carveout guarantees to lenders.
Covenants require net worth ≥$110M and liquidity ≥$10M during loan term.

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